Which Car Insurance Companies Offer the Best Deals?
With stay-at-home orders and shelter-in-place orders this spring, there were far fewer drivers on the road and this led to fewer accident claims. As a result, most auto insurance companies were able to give their customers credits on auto insurance premiums for two or three months. Because of the financial hardships from COVID-19, auto insurance companies extended payments, waived late fees and paused collections. They also deferred deductibles to help customers who could not pay out of their own pocket to get their cars repaired. It is the autumn now and there are still deals and special offers available from auto insurance companies, although many of them have nothing to do with COVID-19. Here is a roundup of the discounts and special offers available from 15 auto insurance companies.
Even if it was your fault, an accident won’t make your rates go up when you sign up for accident forgiveness from Allstate. With Allstate Rewards you can earn points for good driving habits and redeem them for designer products and gift cards. If you sign up for Deductible Rewards, you’ll get $100 off your deductible, plus $100 each year you are accident-free. Allstate’s Drivewise measures your good driving habits like safe speeds and safe stops and rewards you for being smart behind the wheel with cash-back rewards.
The Amica COVID-19 Auto Refund Program provided customers with a 20 percent refund on two months of car premiums this spring. The second round of support will refund up to 10 percent of a customer’s monthly auto premium over a period of up to four months. New auto policies written before the end of 2020 also will receive a refund for up to four months. These refunds apply to auto, motorcycle, RV and trailer insurance policies.
This spring, American Family offered new and current customers a 10 Percent Auto Premium Relief Credit with the plan of returning $425 million in premium relief to personal auto insurance customers. The program continues through the end of the year. Eligible customers will receive a 10 percent credit on personal auto premiums for personal auto policies in force between July and December 2020.
If you’re in a covered accident, Chubb pays for original equipment manufacturer parts to restore your car. And if you need a rental car while your car is being fixed, there is no per-day limit on your rental car.
If your pet gets hurt in an accident while riding in your car, Erie will help cover vet treatment costs, up to $500 per pet, $1,000 total limit. With physical damage coverage, Erie will help cover loss to clothing, luggage and personal belongings that are inside a car that Erie insures, up to $350.
Earn discounts for being a focused driver using Signal. Farmers auto policyholders can use the Signal app for an opportunity to earn an initial 5 percent discount for safe driving and up to 15 percent each time your policy renews. You can save another 10 percent by enrolling drivers under the age of 25 in your household.
Geico offers a multi-policy discount for home and auto insurance customers that bundle their policies together. Geico also offers discounts for vehicle equipment, driving history and habits, driver’s education, driver affiliations and customer loyalty.
Hanover’s platinum home and auto insurance coverage offers savings and a single, bundled account for convenience. With deductible dividends, your collision deductible is reduced as soon as the endorsement is added to your policy.
The Hartford offers 12-month auto insurance rate protection, meaning the rate will stay the same through the 12-month period and not change every six months. With The Hartford’s disappearing deductible, your car’s collision deductible will go down each year all the way to zero as long as you keep a clean driving record.
Liberty Mutual offers accident forgiveness and offers discounts for purchasing your auto insurance policy online, bundling your auto insurance with your home insurance and using the RightTrack app, which rewards good driving behavior.
Nationwide offers discounts for having multi-policies, being a safe driver, being a good student, being an affinity member, being accident-free and using a SmartRide usage-based auto policy.
Plymouth Rock Assurance
Plymouth Rock Assurance offers auto discounts for anti-theft devices in cars, away at school, driver training, good student, new driver, safety pledge and affinity group.
At Progressive, you save 12 percent on your auto insurance when you combine your auto policy with a home, renters or condo policy. And you can save $145 a year when you sign up for Progressive’s Snapshot program, a usage-based insurance program. Progressive offers discounts for continuous coverage, teen driver, good student, distant student and homeowner.
State Farm is working to reduce auto rates in every state. These planned rate reductions will total about $2.2 billion nationally. These reductions are in addition to a $2 billion dividend, flexible payment options and philanthropic relief included in State Farm’s Good Neighbor Relief Program. Together auto customers should see about $4.2 billion in savings.
Travelers offers savings of up to 13 percent on car insurance when you also purchase home or condo insurance coverage from Travelers. Insuring more than one car with Travelers may get you a discount of up to 8 percent. And you may be eligible for a discount up to 5 percent if you own a home or condo, even if you insure your home or condo somewhere besides Travelers.
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In the United States, 721,885 motor vehicles were stolen in 2019. The National Insurance Crime Bureau (NICB) offers yearly car theft statistics for the United States. Here is a look at the states with the most motor vehicle thefts as well as a look at the states with the top 10 fewest motor vehicle thefts.
According to U.S. News, the cheapest car insurance companies in New Jersey are Geico, Progressive, Travelers, State Farm, Allstate and Farmers.
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Traditional insurance states and no-fault states are different in how they handle accidents. In a traditional (or tort law) state, there is fault assigned in an accident whereas in no-fault states your own car insurance pays for damages and injuries even when the accident was someone else’s fault. Below, we break down for you which 12 states are no fault states and what it means if you live in one.
What you need to know before you compare rates.
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