PHILADELPHIA - As a new driver, you can save car insurance money by shopping for the best deal. Some companies with cheap insurance include GEICO, Erie Insurance, USAA, and State Farm. Check out their financial strength ratings to find out how financially sound they are. The best scores are "A++." All of the companies included in this article have good financial strength ratings.
GEICO
If you're a new driver looking for a policy, GEICO is a good choice. The company offers standard coverage plans at low prices, and its agents are easy to work with. Geico is the nation's second-largest car insurance company.
GEICO's online system makes it easy to compare different car insurance plans. There are many different discounts and unique features that may be beneficial to you. They also offer accident forgiveness and competitive rates for drivers with bad credit. GEICO also has a usage-based insurance program that lowers rates based on driving habits.
GEICO also offers a student discount for drivers under 26 years of age. Drivers over 26 can also get a 25 percent discount for taking approved defensive driving classes. GEICO also offers discounts for anti-lock brakes and airbags.
USAA
If you're considering purchasing car insurance, USAA offers an attractive new driver offer. The company offers a free mobile app for new drivers that rewards them for safe driving behaviors and reduces their insurance rates. Drivers who enroll in the program can earn up to 30% off of their initial policy price and continue to enjoy discounts for their policy renewals. The program is available in 43 states and Washington, D.C., and is slated to expand to nearly all states by 2023.
The telematics app and automatic crash detection technology will streamline the claims process, according to USAA. Despite the improvements in the claims process, auto accidents have increased. The company handled 500,000 more claims in 2021 than in 2020. This trend is felt broadly, as auto accident numbers have surpassed pre-pandemic levels. The increase in auto accidents exacerbates supply chain challenges and results in longer wait times for consumers.
Erie Insurance
Erie is one of the most affordable car insurance providers, especially for new drivers. Their car insurance rates depend greatly on your credit score and driving history. In addition, they offer several discounts, including for safety devices on your car and bundling multiple insurance policies. You can also pay your premiums annually. However, you should note that this company only operates in 12 states.
The company offers discounts for drivers under the age of 21, a legacy discount for teenage drivers, and youth longevity discounts. Their policies are also highly rated and include special insurance features such as a diminishing deductible. This means that your deductible will decrease yearly without a claim.
