It is important to recognize that these are averages, and your actual premium for cheap full coverage insurance could be substantially higher or lower depending on numerous personal factors . One driver might pay under $100 per month while another with similar coverage could exceed $400, highlighting the importance of personal research.
State-by-State Variations
The cost of cheap full coverage insurance varies dramatically across states due to differences in regulations, population density, weather patterns, and claim frequencies . Some states consistently rank as more affordable, while others impose significantly higher premiums.
Among the most affordable states for cheap full coverage insurance, Hawaii stands out with an average monthly rate of just $123 . North Carolina follows at $185 per month, North Dakota at $282, Alaska at $283, and Wyoming at $283 . These lower rates often reflect lower population density, fewer extreme weather events, and favorable state regulations.
Conversely, some states impose much higher costs for cheap full coverage insurance. Louisiana ranks as the most expensive state, with average monthly premiums reaching $657 . New York follows at $625 per month, Florida at $557, Michigan at $526, and Rhode Island at $509 . Factors such as high claim frequencies, expensive repair costs, and no-fault insurance requirements contribute to these elevated rates.
Top Companies Offering Cheap Full Coverage Insurance
USAA: The Military Advantage
For eligible military members, veterans, and their families, USAA consistently offers the most competitive cheap full coverage insurance rates. According to WalletHub’s analysis, USAA charges an average of $234 per month for full coverage . Forbes Advisor similarly identifies USAA as the cheapest option for military families at approximately $147 monthly .
USAA’s reputation extends beyond pricing. The company consistently earns the highest customer satisfaction scores in the industry and maintains an excellent claims handling record . Its deployment rate discounts for service members posted overseas provide additional savings opportunities . For those who qualify, USAA represents exceptional value in cheap full coverage insurance.
Travelers: The Good Driver Champion
For drivers with clean records, Travelers frequently offers the most affordable cheap full coverage insurance options. Forbes Advisor’s analysis found Travelers pricing for good drivers to be 28% below the national average . MoneyGeek’s extensive analysis of over 2.4 million quotes similarly identified Travelers averaging $97 per month for full coverage .
Travelers stands out for its IntelliDrive telematics program, which can save safe drivers up to 30% on their premiums . The company’s new car replacement coverage, which lasts five years instead of the standard two to three years, adds value for drivers of newer vehicles . However, potential customers should note that Travelers cannot finalize policies online and requires a phone call to purchase coverage.
GEICO: Digital Excellence and Youth Appeal
GEICO ranks among the top providers for cheap full coverage insurance, particularly for younger drivers and those seeking strong digital tools. The company’s rates average approximately $160 per month according to Forbes Advisor , with WalletHub analysis showing similar competitive pricing .
