State Farm is not an expensive insurance company. The company ranks fifth in Wallethub's cheapest car insurance companies nationwide ranking with an average cost of $919 per year. Your premium however will vary based on the policies you select, your driving record, and your area of residence, among others.
In a nutshell, State Farm is not a very expensive company but it’s also not the cheapest company. Although cost is a deciding factor when it comes to insurance for most people, our advice would be to see what your options are from multiple companies. After you decide on the type of policy you want to have, you can start comparing premiums and include costs in your final decision.
Yes, State Farm insurance rates are competitive, since the company is one of the five cheapest insurers nationally, according to WalletHub’s cheap car insurance analysis. State Farm car insurance costs an average of $919 annually or $77 per month.
These sample quotes are representative of State Farm’s insurance prices, but individual results will vary. To learn more about how we obtained these sample quotes, check out the methodology section of our complete State Farm car insurance review.
The best car insurance for new drivers under 25 years old is from companies like Allstate, Geico, Progressive, and Safeco. They are among the cheapest car insurance companies for drivers of all ages, both under 25 and older, according to WalletHub’s Cheap Car Insurance Report. These companies provide a variety of coverage choices at affordable prices, along with numerous discounts applicable to drivers under 25.… read full answer
Drivers under 25 typically pay higher insurance premiums than older drivers, so options for reducing those high costs are especially important. When shopping for auto insurance, new drivers under 25 should consider their state’s car insurance requirements, as well as what coverage they will need to be fully protected on the road. Then, they should look into opportunities for discounts.
Many major insurance providers offer discounts that can help reduce the cost of premiums for young drivers. Companies like Geico and Allstate provide good student discounts for drivers under 25 years old who maintain at least a B grade-point average. Young drivers who take a driver’s education course or a defensive driving course are eligible for savings, too.
Finally, some companies, like Metromile and Esurance, offer usage-based auto insurance policies that calculate premiums based on how much you drive. These policies can offer an affordable alternative for young drivers who don’t drive frequently.
Once a driver turns 25, they are considered to be more experienced and less likely to be involved in an accident, thus their insurance premiums are likely to decrease. Estimates show that premiums decrease by approximately 10% for people with a good driving history once they turn 25.
The average cost of State Farm full coverage car insurance is $2,617. Full coverage from State Farm is more expensive than a State Farm … read full answerliability-only policy, since it provides more coverage.
A State Farm full coverage policy is a good choice for drivers who don’t want to pay out of pocket to repair or replace their car, even if they are at fault in an accident. Collision insurance covers the cost of fixing or replacing the policyholder’s vehicle after an accident, regardless of who was at fault. Similarly, comprehensive insurance covers the policyholder’s car if it’s damaged by something besides an accident, like vandalism, a fire, or a natural disaster. Collision and comprehensive are not mandatory in any state, but they are required for leased and financed cars.
Still, it’s worth noting that full coverage is not the official name of any type of insurance, so be sure to clarify whether collision and comprehensive are included if you’re purchasing a State Farm policy. To learn more, check out WalletHub’s guide to full coverage car insurance.
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