Which Car Insurance Company Is Least Likely To Raise Rates?

A majority of U.S. drivers say their car insurance rates went up last year, according to new research from Consumer Reports, with some reporting premium increases of more than $200 a year.
Of the 40,566 car owners surveyed by the consumer nonprofit, 60% said they faced a rate hike between 2023 and 2024. Three brands — Erie, NJM and Hanover — were the least likely to be more expensive at renewal time.
Erie Auto Insurance
Cost
The best way to estimate your costs is to request a quote
App available
Yes
Policy highlights
Erie Insurance offers auto insurance for many different situations and affordable premiums. Several different coverages allow you to customize your policy.
Terms apply.
Hanover Auto Insurance
Policy highlights
Policies must be purchased through an agent, but they include deductible dividends, transportation expenses, and newer car replacement. The Prestige policy covers high-value vehicles.
Discounts
Include bundling, good students, taking a defensive driving course, paying in full and having anti-theft devices.
Availability
Hanover writes auto insurance policies in Arizona, California, Connecticut, Colorado, Georgia, Illinois, Indiana, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Kansas, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin and Washington, D.C.
Accident forgiveness
Your first accident in any 36-month period is forgiven.
Terms apply.
Just 37% of Erie customers reported a price increase, while 43% of NJM policyholders and 52% of Hanover users saw increases.
On the other end of the spectrum, prices went up for 91% of PEMCO customers and 80% of Cincinnati Insurance customers.
More than half (53%) of PEMCO users reported an increase of $200 or more, the highest percentage of the 29 insurers profiled.
State Farm, the nation’s largest car insurance company, was firmly in the middle, with 62% of policyholders reporting an increase (20% of them by $200 or more).
State Farm Auto Insurance
Cost
The best way to estimate your costs is to request a quote
App available
Yes
Policy highlights
State Farm is one of the largest auto insurers in the U.S. based on market share. It has an excellent reputation for customer satisfaction and offers discounts for safe driving and young drivers.
Terms apply.
Read our State Farm Auto Insurance review