Carrier vs. Carrier Comparisons
Related Companies
The top picks for cheap car insurance for used cars are Geico, State Farm, and Progressive, with rates starting as low as $70 per month.
Geico stands as the cheapest used car insurance company. State Farm offers broad coverage options at competitive rates, while Progressive provides discounts based on driving habits. Compare these options to find the best deal for your used car.
| Company | Rank | Monthly Rates | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
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#1 | $70 | A++ | Cheap Rates | Geico |
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#2 | $75 | B | Broad Coverage | State Farm |
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#3 | $80 | A+ | Usage-Based Discounts | Progressive |
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#4 | $85 | A+ | Bundling Benefits | Nationwide |
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#5 | $88 | A | Loyal Customers | American Family |
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#6 | $89 | A++ | Risk Assessment | Travelers |
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#7 | $92 | A | Competitive Pricing | Farmers |
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#8 | $93 | A | Safety Discounts | Safeco |
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#9 | $98 | A+ | Customizable Plans | Allstate |
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#10 | $105 | A | Flexible Options | Liberty Mutual |
Car make and model impacts car insurance rates, but finding affordable used car insurance doesn’t have to be a challenge. Enter your ZIP code into our free comparison tool to find the lowest prices in your area.
What You Should Know
- Geico offers the best rates for used car insurance at $70 per month
- State Farm and Progressive provide affordable coverage for used cars
- Discounts and bundling options help lower used car insurance costs
#1 – Geico: Top Overall Pick
Pros
- Affordable Monthly Rates: Geico provides some of the most affordable monthly used car insurance rates at $70.
- Top-Rated Financial Strength: Geico’s A++ rating ensures reliable, cheap car insurance for used cars. See our Geico vs. Progressive car insurance comparison for more.
- Numerous Discounts: Geico provides various discounts, including multi-vehicle and safe driver discounts, which can help lower the cost of cheap car insurance for used cars.
Cons
- Limited Coverage Options: Geico’s policies can be limited, which may be a drawback for those seeking specific car insurance for used cars.
- Customer Service: Some users report issues with Geico’s customer service, which may be a concern if quality service is a priority for cheap car insurance for used cars.
#2 – State Farm: Cheapest for Broad Coverage
Pros
- Broad Coverage Options: State Farm offers great options for cheap car insurance for used cars. Read more in our State Farm review article.
- Discount Opportunities: They offer discounts like safe driver and multi-car, helping lower premiums for cheap car insurance for used cars.
- Comprehensive Customer Service: State Farm’s extensive network of agents provides personalized service, which is useful for navigating cheap car insurance for used cars.
Cons
- Low Financial Ratings: With a B rating from A.M. Best, State Farm has a lower rating than other cheap used car insurance companies.
- Limited Usage-Based Discounts: State Farm may not offer as many usage-based discounts as other used car insurance companies.
#3 – Progressive: Cheapest With Usage-Based Discounts
Pros
- Usage-Based Discounts: Our Progressive Snapshot review shows how usage-based discounts reduce costs on used car insurance for safe drivers.
- Competitive Pricing: Progressive offers cheap car insurance for used cars, with monthly rates starting at $80 for minimum coverage.
- Strong Financial Stability: An A+ rating from A.M. Best ensures Progressive’s financial stability, providing reliable support for car insurance on used cars.
Cons
- Higher Costs for High-Risk Drivers: Progressive may charge higher premiums for drivers with claims or poor records, affecting cheap car insurance rates for used cars.
- Customer Service Variability: Customer service experiences can vary, with some used car drivers reporting difficulties with claims and support.
#4 – Nationwide: Best Bundling Benefits
Pros
- Bundling Discounts: Nationwide offers savings through bundling, reducing car insurance costs for used cars.
- Discount Programs: It offers more discount programs, including for multi-policy holders and telematics users, which can lower the cost of used car insurance.
- A+ Financial Rating: With an A+ rating from A.M. Best, Nationwide’s strong financial stability supports reliable coverage for cheap car insurance for used cars.
Cons
- Regional Availability: Coverage options can vary by region, impacting access to cheap car insurance for used cars. Learn more in our Nationwide review.
- Complex Bundling Options: While bundling can save money, it may also complicate the policy structure, making it harder to manage cheap car insurance for used cars.
#5 – American Family: Cheapest for Loyal Customers
Pros
- Loyal Customer Benefits: Read our American Family Insurance review to learn how to qualify for loyalty discounts.
- A Financial Strength: With an A rating from A.M. Best, American Family provides reliable financial backing for cheap car insurance for used cars.
- Comprehensive Coverage Options: AmFam offers a range of coverage options and customization, allowing for tailored and cheap used car insurance.
Cons
- Higher Rates: At $88 per month, American Family used car insurance rates are higher than other companies.
- Limited Discounts for High-Risk Drivers: There may be fewer discount opportunities for high-risk drivers, impacting affordability for cheap car insurance for used cars.
#6 – Travelers: Best for Risk Assessment
Pros
- Risk Assessment Tools: Travelers offers fleet risk assessment for businesses utilizing used vehicles. Learn more in our Travelers review.
- A++ Financial Rating: With an A++ rating from A.M. Best, Travelers ensures robust financial stability, supporting reliable cheap car insurance for used cars.
- Flexible Coverage Options: Travelers provides a range of coverage options and add-ons, allowing for customized cheap car insurance for used cars.
Cons
- Complex Policy Choices: The wide range of options can be overwhelming, potentially complicating the selection of cheap car insurance for used cars.
- Mixed Customer Service Reviews: There are mixed reviews regarding customer service, which might impact overall satisfaction with cheap car insurance for used cars.
#7 – Farmers: Best for Competitive Pricing
Pros
- Competitive Pricing: Farmers offers competitive pricing starting at $92 per month, making it a good option for cheap car insurance for used cars.
- Wide Range of Discounts: Farmers offers more used car insurance discounts than other companies, including for safe driving and bundling, which can help lower monthly rates.
- Customizable Policies: Find all the ways to customize your used car insurance policy in our Farmers Insurance review.
Cons
- Higher Premiums: Farmers’ rates may be higher for some demographics, affecting those looking for cheap car insurance for used cars.
- Limited Usage-Based Discounts: Compared to other insurers, Farmers might offer fewer usage-based discounts than other used car insurance companies.
#8 – Safeco: Best for Safety Discounts
Pros
- Safety Discounts: Safeco provides significant discounts for safe drivers and those who install safety features into their used vehicles.
- A Financial Rating: With an A rating from A.M. Best, Safeco’s financial stability supports reliable coverage for cheap car insurance for used cars.
- Coverage Options: Safeco offers cheap car insurance for used cars with various coverage options. For more insights, check our Safeco Insurance review.
Cons
- Higher Rates for High-Risk Drivers: Safeco might have higher premiums for high-risk drivers, which can impact affordability for cheap car insurance for used cars.
- Customer Service Complaints: Some used car drivers report mixed experiences with customer service, which might affect satisfaction.
#9 – Allstate: Cheapest Customizable Plans
Pros
- Customizable Plans: Allstate provides customizable plans for cheap car insurance for used cars. Learn more in our Allstate review.
- A+ Financial Rating: With an A+ rating from A.M. Best, Allstate provides strong financial stability for reliable cheap car insurance for used cars.
- Extensive Discounts: Allstate offers a variety of discounts, including for safe driving and bundling, which can help reduce the cost of cheap car insurance for used cars.
Cons
- Higher Premiums: At $98 per month, Allstate's rates may be higher for those looking for cheap used car auto insurance.
- Mixed Reviews on Claims Processing: Some customers have mixed experiences with claims, affecting satisfaction with cheap car insurance for used cars.
#10 – Liberty Mutual: Cheapest Flexible Options
Pros
- Flexible Options: Liberty Mutual offers a variety of flexible insurance options that used car drivers can tailor to their needs.
- Discount Opportunities: It offers multiple discounts, including for safe driving, bundling, and unique savings for teachers.
- Comprehensive Coverage: Liberty Mutual offers a long list of comprehensive add-ons, including new car replacement. Read more in our Liberty Mutual review.
Cons
- Higher Monthly Rates: Liberty Mutual’s $105 monthly rate is higher, which may not suit those looking for cheap car insurance for used cars.
- Mixed Customer Service Feedback: There are mixed reviews about customer service, which could impact satisfaction with cheap car insurance for used cars.
Comparing Used Car Insurance Rates by Coverage Level
Which type of insurance would be best for a very old and cheap vehicle? Depending on how old your vehicle is, minimum coverage is typically enough for used cars since it includes liability insurance to meet legal requirements. Monthly rates for minimum used car insurance can start at $70.
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
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$98 | $180 |
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$88 | $170 |
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$92 | $182 |
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$70 | $155 |
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$105 | $190 |
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$85 | $171 |
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$80 | $161 |
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$93 | $155 |
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$75 | $160 |
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$89 | $173 |
Geico offers the lowest rates at $70 a month, while State Farm provides broader coverage for $75 monthly. Progressive, known for usage-based discounts, starts at $80 per month, and Nationwide, which offers bundling benefits, is slightly higher at $85 a month.
In contrast, full coverage adds collision and comprehensive insurance and ranges from $155 to $190 monthly. Although pricier, it offers better protection against accidents, theft, and natural disasters, making it a wise choice for used car owners in high-risk areas.
Learn More: Liability vs. Full Coverage Car Insurance
Used Car Insurance Rates by Make and Model
Used car insurance rates are significantly lower than those for new cars, with drivers paying around 40% less on premiums than they would for a more recent model. Compare car make and model impact on insurance rates below:
| Vehicle | 2015 Model | 2024 Model | % Increase |
|---|---|---|---|
| Ford F-150 | $125 | $175 | 41.7% |
| Honda Accord | $110 | $160 | 45.5% |
| Honda Civic | $100 | $145 | 38.1% |
| Honda CR-V | $135 | $185 | 38.5% |
| Nissan Altima | $130 | $180 | 40.0% |
| Toyota Camry | $115 | $165 | 39.1% |
| Toyota Corolla | $105 | $150 | 42.9% |
| Toyota RAV4 | $120 | $170 | 37.5% |
Why is used car insurance cheaper? Newer models have higher replacement values, costly repairs, and advanced features that make them pricier to insure. Luxury brands and sports cars often carry higher insurance costs, even when used, due to costly repairs and higher performance risks.
Ways to Save Money on Used Car Insurance
Car insurance discounts are essential for finding cheap car insurance for used cars. Providers like Geico and Progressive offer discounts for multiple vehicles, safe driving, and good student status, all of which can significantly reduce premiums.
| Insurance Company | Safe Driver | Bundling | Multi-Car | Defensive Driving | Low Mileage |
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25% | 20% | 10% | 10% | 25% |
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20% | 15% | 10% | 10% | 25% |
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30% | 20% | 10% | 10% | 25% |
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20% | 20% | 10% | 10% | 20% |
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20% | 15% | 10% | 10% | 20% |
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25% | 20% | 10% | 10% | 25% |
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20% | 15% | 10% | 10% | 20% |
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20% | 15% | 10% | 10% | 20% |
Having advanced safety features in your vehicle can significantly lower your insurance premiums. Options like anti-lock brakes, air bags, rearview cameras, and electronic stability control reduce the risk of accidents, leading to fewer claims and, consequently, lower rates.
Additionally, telematics programs like Progressive’s track driving behavior and alert drivers to hazards, incentivizing safe driving and further lowering costs.
Nationwide also stands out with its bundling discounts, allowing you to combine auto and home insurance for additional savings. By leveraging both safety features and available car insurance discounts, you can effectively reduce your insurance costs and secure better value in your quest for cheap car insurance for used cars.
Finding Affordable Car Insurance for Used Cars
To find cheap car insurance for used cars, compare premiums, coverage options, and discounts. Geico offers the lowest rates from $70 per month, while State Farm and Progressive provide broader coverage and usage-based discounts. Nationwide is great for bundling.
Car insurance online marketplaces can streamline used car insurance company comparisons and help you find the best deals. Consider discounts for safety features and safe driving, and check the ease of the claims process and customer reviews for a better overall experience.
Ready to find cheaper car insurance coverage? Enter your ZIP code below to begin.
Frequently Asked Questions
Is it cheaper to insure a used car?
Yes, used car insurance quotes are cheaper than newer vehicles due to depreciation.
Who typically has the cheapest used car insurance?
Geico typically offers the cheapest car insurance for used cars, with rates starting as low as $70 per month.
Is an older car cheaper to insure?
Most older vehicles are cheaper to insurance unless you are insuring a collector or classic car.
What is the lowest form of used car insurance?
What kind of car insurance do you really need? The lowest form of car insurance when buying a used car is minimum coverage, which usually includes liability-only insurance. This meets legal requirements but offers limited protection, covering only damages you cause to others in an accident.
How much is insurance for a used car?
User car insurance costs between $70 and $190 per month, depending on the level of coverage and the make and model of the vehicle.
What is the cheapest used car to insure?
Used Toyotas and Volkswagen often have the cheapest used car insurance rates. Enter your ZIP code to start comparing insurance quotes by make and model.
Which type of used car insurance is the cheapest?
The cheapest type of auto insurance is liability insurance. What does liability car insurance cover?. It only covers the costs of damage you may cause to others in an accident. It does not cover damage to your own vehicle.
How long do you have to get insurance after buying a used car?
Most dealerships require proof of insurance before you can buy a car, and you typically have up to a week to update your insurance policy. You may not need to prove you have insurance when buying a used car from private seller, but check the laws in your state to be sure.
What age has the highest used car insurance rates?
Teens and young drivers, particularly those under the age of 25, generally face the highest car insurance premiums due to their inexperience and higher likelihood of being involved in accidents. Compare the best car insurance companies for new drivers to get the best rates.
How do I get lower used car insurance rates?
Qualifying for discounts, signing up for usage-based insurance, and avoiding accidents or filing claims will help you secure cheap used car insurance quotes.
What age is used car insurance the cheapest?
Car insurance tends to be the cheapest for drivers between the ages of 50 and 65, as they are considered lower risk due to experience and cautious driving habits.
What used car insurance company is cheaper than Allstate?
Geico, State Farm, and Progressive all have cheaper used car insurance than Allstate. Read our State Farm Drive Safe and Save review to learn how to lower your rates with telematics.