Best Co-Op Car Insurance in 2024 (Your Guide to the Top 10 Companies)
Geico, Progressive, and Allstate lead as the best co-op car insurance providers, each offering plans starting at $32 monthly. These companies excel by combining superior customer service, comprehensive coverage options, and competitive pricing, making them the top choices in the co-op car insurance sector.
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Joel Ohman
Certified Financial Planner
Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...
Certified Financial Planner
UPDATED: Sep 19, 2024
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Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Sep 19, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Finding the best co-op car insurance can be daunting, but Geico, Progressive, and Allstate stand out as the top providers in the market.
These companies have been recognized for their commitment to providing comprehensive coverage and exceptional customer service. Learn more in our “What is the best car insurance?”
Our Top 10 Company Picks: Best Co-Op Car Insurance
Company Rank Multi Vehicle-Discount A.M. Best Best For Jump to Pros/Cons
#1 25% A++ Low Rates Geico
#2 12% A+ Flexible Coverage Progressive
#3 25% A+ Reliable Service Allstate
#4 10% A+ Customer Satisfaction Erie
#5 20% B Comprehensive Coverage State Farm
#6 8% A++ Trusted Provider Travelers
#7 25% A Policy Options Liberty Mutual
#8 10% A++ Military Focus USAA
#9 20% A Affordable Plans American Family
#10 12% A Coverage Options Safeco
By pooling resources, they offer competitive advantages that are hard to match in traditional insurance settings. Whether you’re looking for reliability, affordability, or excellent support, these co-op insurers provide options that cater to diverse needs and budgets.
Our free online comparison tool above allows you to compare cheap car insurance quotes instantly — just enter your ZIP code to get started.
- Geico is the top pick for the best co-op car insurance
- Co-Op car insurance focuses on mutual benefits and lower costs
- Tailored solutions meet diverse driver needs effectively
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#1 – Geico: Top Overall Pick
Pros
- Substantial Multi-Vehicle Discount: Geico offers a 25% discount for multi-vehicle policies.
- Top Tier Financial Strength: With an A++ rating from A.M. Best, Geico is highly reliable.
- Affordable Premiums: Known for offering some of the lowest rates in the industry. Discover more about offerings in our Geico car insurance review.
Cons
- Limited Customization: Fewer options for personalizing policies compared to competitors.
- Customer Service Variability: Some customers report inconsistent service experiences.
#2 – Progressive: Best for Flexible Coverage
Pros
- Innovative Tools: Progressive offers tools like the Name Your Price® tool for tailored premiums.
- Moderate Multi-Vehicle Discount: Provides a 12% discount for insuring multiple vehicles.
- Strong Financial Rating: Progressive has a robust A+ rating from A.M. Best. Delve into our evaluation of Progressive car insurance review.
Cons
- Higher Rates for Risky Drivers: Rates can be relatively high for high-risk drivers.
- Complex Claims Process: Some users find the claims process to be complicated and lengthy.
#3 – Allstate: Best for Reliable Service
Pros
- High Multi-Vehicle Discount: Allstate also offers a 25% discount for multi-vehicle coverage.
- Extensive Agent Network: Provides personalized service through a widespread agent network.
- A+ Financial Rating: Allstate is financially strong, ensuring reliability. Discover more about offerings in our Allstate car insurance review.
Cons
- Premium Pricing: Allstate’s rates can be higher than some of its competitors.
- Claims Satisfaction Issues: There are occasional complaints regarding the claims process.
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#4 – Erie: Best for Customer Satisfaction
Pros
- High Client Satisfaction: Erie is well-regarded for customer service and satisfaction.
- Focused Regional Service: Offers specialized services tailored to regional needs. Learn more in our Erie car insurance review.
- Competitive Discounts: Although lower at 10%, the discounts are competitive within its operating regions.
Cons
- Limited Availability: Erie’s coverage is not available nationwide.
- Less Flexibility: Fewer choices in policy customization compared to larger insurers.
#5 – State Farm: Best for Diverse Coverage
Pros
- Bundling Policies: State Farm offers significant discounts for bundling multiple insurance policies.
- High Low-Mileage Discount: State Farm provides a substantial discount for low-mileage usage.
- Wide Coverage: Offers various coverage options tailored to different business needs. Unlock details in our State Farm car insurance review.
Cons
- Limited Multi-Policy Discount: The multi-policy discount is not as high compared to some competitors.
- Premium Costs: Despite discounts, premiums might still be relatively higher for certain coverage levels.
#6 – Travelers: Best for Trusted Provider
Pros
- Extensive Coverage Options: Offers a wide range of coverage options for diverse needs.
- High Financial Stability: Rated A++ by A.M. Best, indicating excellent financial health. See more details on our Travelers car insurance review.
- Risk Management Services: Provides advanced risk management services for policyholders.
Cons
- Lower Multi-Vehicle Discounts: Offers a relatively lower discount of 8% for multiple vehicles.
- Complex Policy Offerings: Some customers find their policy options complex and difficult to understand.
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#7 – Liberty Mutual: Best for Policy Options
Pros
- Wide Range of Policy Options: Offers a diverse range of options to suit various needs.
- High Multi-Vehicle Discount: Provides a 25% discount for insuring multiple vehicles.
- Adaptive Offerings: Flexible policies that adapt to different customer requirements. Read up on the Liberty Mutual car insurance review for more information.
Cons
- Higher Premiums: Generally, premiums are higher compared to some other insurers.
- Mixed Customer Reviews: Receives mixed feedback regarding customer service and claims handling.
#8 – USAA: Best for Military Focus
Pros
- Tailored for Military: Specializes in serving military members and their families.
- Exceptional Financial Strength: Holds an A++ rating from A.M. Best. Unlock details in our USAA car insurance review.
- Highly Competitive Rates: Offers some of the best rates, particularly for its target demographic.
Cons
- Eligibility Restrictions: Only available to military members, veterans, and their families.
- Limited Physical Presence: Fewer physical locations compared to other major insurers.
#9 – American Family: Best for Affordable Plans
Pros
- Cost-Effective Solutions: Known for providing affordable insurance plans.
- Strong Customer Loyalty: High levels of customer loyalty and satisfaction.
- Substantial Discounts: Offers a 20% discount for multi-vehicle policies. See more details on our American Family car insurance review.
Cons
- Regional Limitations: Not as widely available across the country.
- Average Financial Rating: Holds an A rating from A.M. Best, which is good but not top-tier.
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#10 – Safeco: Best for Comprehensive Coverage
Pros
- Broad Coverage Options: Offers a wide variety of options that cater to different needs. Discover insights in our Safeco car insurance review.
- Moderate Multi-Vehicle Discount: Provides a 12% discount on multi-vehicle policies.
- Flexible Payment Options: Offers various payment plans to accommodate different budgets.
Cons
- Customer Service Concerns: Some reports of less than satisfactory customer service.
- Claim Resolution: Occasionally, claims resolution may take longer than expected.
Comparative Monthly Rates for Co-Op Car Insurance
The cost of co-op car insurance varies significantly depending on the provider and the level of coverage chosen. This section breaks down the monthly rates for both minimum and full coverage across several insurance companies.
Co-Op Car Insurance Monthly Rates by Coverage Level & Provider
Insurance Company Minimum Coverage Full Coverage
Allstate $69 $144
American Family $49 $128
Erie $56 $133
Geico $58 $146
Liberty Mutual $63 $139
Progressive $59 $108
Safeco $32 $149
State Farm $54 $148
Travelers $62 $138
USAA $40 $143
Allstate offers minimum coverage at $69 and full coverage at $144, positioning it as a middle-range option in terms of cost. American Family and Erie provide more economical choices with minimum coverages at $49 and $56 respectively, and full coverages at $128 and $133.
Geico and Liberty Mutual are slightly above the average, with Geico charging $58 for minimum and $146 for full coverage, while Liberty Mutual sets their rates at $63 and $139. Progressive stands out with the lowest full coverage rate at $108 and a competitive minimum coverage rate of $59. Safeco offers the lowest minimum coverage rate at $32, but the highest full coverage rate at $149.
State Farm and Travelers offer comparable rates, with State Farm at $54 for minimum and $148 for full, and Travelers at $62 and $138. Finally, USAA provides the most favorable rates for those eligible, at $40 for minimum and $143 for full coverage, reflecting its focus on affordability for its specific customer base.
Read more: Compare Comprehensive Car Insurance: Rates, Discounts, & Requirements
What Is Co-Op Insurance
It is a group of people working together for the good of the group, an idea that has been around for many years. There are stores, farms, and living situations that still work by the idea of cooperation.
Traditional car insurance uses a portion of the money paid through each policyholder’s premium to pay employees and executives at the company.
Since a portion of each premium is put towards future claims that will be paid out by the insurance company, premiums must cover the cost of overhead.
There are no executives, only other members serving in leadership positions. Typically a board of members makes important decisions. There are some employees but they are limited to adjusters, operators, and clerical workers who are paid an average salary.
A co-op car insurance company is not in the business to make a profit.
So, if it’s not for profit, what is my excess payment going toward? After paying employees, all money goes into a fund to pay for the car insurance needs of the members. Because of this, premium rates remain fairly low. Discover insights in our “What Is a Car Insurance Premium?”
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Does a Car Insurance Co-Op Save You Money
The main question is does a car insurance co-op save you money?
There are many things to consider when answering this question.
For example, it typically does not offer discounts.
Traditional car insurance companies offer numerous discounts such as:
- Student Discounts
- Safe Driver Discounts
- Safety Device Discounts
- Anti-theft Device Discounts
- Military Discount
- No Accidents Discount
These discounts may save you more money than a co-op depending on what discounts you qualify for.
This table shows a sample of available discounts by insurer.
Car Insurance Discount Availability by Provider
| Discount Name | Allstate | American Family | Farmers | Geico | Liberty Mutual | Nationwide | Progressive | State Farm | Travelers | USAA |
|---|---|---|---|---|---|---|---|---|---|---|
| Adaptive Cruise Control | NA | NA | 10% | 10% | 5% | 3% | NA | 7% | 10% | NA |
| Adaptive Headlights | 15% | 15% | 10% | 5% | 5% | 10% | 15% | 5% | 5% | 15% |
| Anti-Lock Brakes | 10% | 10% | 10% | 5% | 5% | 5% | 10% | 5% | NA | NA |
| Anti-Theft | 10% | NA | NA | 23% | 20% | 25% | 20% | 15% | NA | NA |
| Claim Free | 35% | 10% | 15% | 26% | 15% | 10% | 15% | 15% | 23% | 12% |
| Continuous Coverage | NA | 10% | 10% | NA | 15% | 15% | 10% | 10% | 15% | 5% |
| Daytime Running Lights | 2% | NA | 2% | 3% | 5% | 5% | 7% | 3% | NA | NA |
| Defensive Driver | 10% | 10% | NA | 10% | 10% | 5% | 10% | 5% | 10% | 3% |
| Distant Student | 35% | 15% | 30% | 30% | 20% | 10% | 20% | 20% | 7% | NA |
| Driver's Education | 10% | 10% | 8% | NA | 10% | 8% | 10% | 15% | 8% | 3% |
| Early Signing | 10% | 12% | 15% | 15% | 8% | 8% | 8% | 15% | 10% | 12% |
| Electronic Stability... | 2% | 3% | 3% | 2% | 5% | NA | 5% | NA | 3% | 2% |
| Emergency Deployment | 5% | NA | 20% | 25% | NA | NA | NA | NA | 20% | 25% |
| Engaged Couple | 10% | 10% | 5% | NA | 5% | 10% | 5% | NA | NA | 10% |
| Family Legacy | NA | 10% | NA | 5% | 10% | 5% | 5% | NA | 5% | 10% |
| Family Plan | 20% | NA | 15% | NA | 10% | 25% | NA | 15% | 15% | NA |
| Farm Vehicle | 10% | NA | 10% | NA | 10% | 5% | NA | 5% | 10% | NA |
| Fast 5 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| Federal Employee | 13% | 15% | NA | 12% | 10% | 16% | NA | 15% | NA | NA |
| Forward Collision Warning | 5% | 10% | 5% | 10% | 5% | NA | 5% | 5% | 5% | 10% |
| Full Payment | 10% | 10% | 8% | NA | $50 | 8% | 10% | NA | 8% | NA |
| Further Education | NA | NA | NA | NA | 10% | 15% | NA | NA | NA | NA |
| Garaging/Storing | NA | NA | NA | NA | NA | NA | NA | NA | NA | 90% |
| Good Credit | 10% | NA | 5% | 10% | 5% | NA | 10% | NA | 10% | NA |
| Good Student | 20% | 23% | NA | 15% | 23% | 10% | 8% | 25% | 8% | 3% |
| Green Vehicle | 10% | NA | 5% | NA | 10% | NA | NA | 10% | 10% | NA |
| Homeowner | 3% | 3% | 5% | NA | 5% | 5% | NA | 3% | 5% | NA |
| Lane Departure Warning | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| Low Mileage | 30% | 30% | 25% | 25% | 30% | 25% | NA | 25% | 30% | 25% |
| Loyalty | 5% | 15% | 5% | NA | 15% | 5% | 15% | 15% | 5% | NA |
| Married | 5% | NA | 5% | NA | NA | NA | 5% | NA | NA | NA |
| Membership/Group | NA | 7% | NA | NA | 10% | 7% | NA | NA | NA | 7% |
| Military | NA | NA | 15% | 15% | 4% | 10% | NA | NA | NA | 30% |
| Military Garaging | NA | NA | NA | NA | NA | NA | NA | NA | NA | 15% |
| Multiple Drivers | 25% | 20% | 20% | NA | NA | 25% | NA | NA | 25% | NA |
| Multiple Policies | 10% | 29% | 20% | 10% | 20% | 10% | 12% | 17% | 13% | NA |
| Multiple Vehicles | NA | 10% | 8% | 25% | 10% | 20% | 10% | 20% | 8% | NA |
| New Address | NA | 5% | NA | NA | 5% | 5% | NA | 5% | NA | NA |
| New Customer/New Plan | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| New Graduate | 5% | 15% | 10% | NA | 5% | 15% | 10% | 5% | 15% | 10% |
| New Vehicle | 30% | NA | 30% | 15% | 40% | NA | 40% | 10% | 12% | NA |
| Newly Licensed | NA | NA | NA | NA | 5% | NA | NA | NA | NA | NA |
| Newlyweds | 10% | NA | 5% | 5% | 5% | NA | 10% | NA | 10% | NA |
| Non-Smoker/Non-Drinker | NA | NA | 10% | NA | 10% | 10% | NA | NA | NA | 10% |
| Occasional Operator | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| Occupation | NA | NA | NA | NA | 10% | 15% | NA | NA | NA | NA |
| On-Time Payments | 5% | 10% | NA | 10% | 10% | 15% | 15% | NA | 15% | NA |
| Online Shopper | 10% | NA | NA | NA | 10% | NA | 7% | NA | 10% | NA |
| Paperless Documents | 10% | 5% | NA | 5% | 5% | 5% | $50 | 10% | 5% | 10% |
| Paperless/Auto Billing | 5% | 5% | NA | NA | 3% | $30 | NA | $20 | 3% | 3% |
| Passive Restraint | 30% | 30% | NA | 40% | NA | 20% | NA | 40% | NA | NA |
| Recent Retirees | NA | NA | NA | NA | 4% | NA | NA | NA | NA | NA |
| Renter | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| Roadside Assistance | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| Safe Driver | 45% | NA | NA | 15% | NA | 35% | 31% | 15% | 23% | 12% |
| Seat Belt Use | NA | NA | NA | 15% | NA | NA | NA | NA | NA | NA |
| Senior Driver | 10% | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| Stable Residence | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| Students & Alumni | NA | NA | NA | NA | 10% | 7% | NA | NA | NA | NA |
| Switching Provider | NA | NA | NA | NA | 10% | NA | NA | NA | NA | NA |
| Usage-Based Discount | 20% | 40% | 20% | NA | 30% | 40% | 20% | 50% | 30% | 5% |
| Utility Vehicle | 15% | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| Vehicle Recovery | 10% | NA | NA | 15% | 35% | 25% | NA | 5% | NA | NA |
| VIN Etching | NA | NA | NA | NA | 5% | NA | NA | NA | NA | NA |
| Volunteer | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| Young Driver | NA | NA | NA | NA | NA | NA | NA | NA | NA | $75 |
Discounts are an important feature that traditional car insurance companies use to gain customers. Co-Ops also don’t take into consideration the type of vehicle, vehicle condition, where you live, and how often you drive. Depending on your answers to these variables, a traditional car insurance company may raise your premium or lower it. Unlock details in our “Why is my car insurance so expensive?”
Why Are Co-Ops So Small
Co-Op car insurance companies are small because the larger a company gets, the more overhead and expenses are involved. See more details on our “Are small car insurance companies a good option?”
The whole point is to save its members money. If co-ops begin to expand, they will typically divide into smaller ones to cover particular areas and still meet demands while staying small.
The service within is not as all inclusive as with a traditional car insurance company.
Though co-ops still have insurance adjusters for accidents and individuals to answer the phone when questions arise, there typically is not a 24/7 mentality as there is with large traditional companies. All the major needs are still met, the response just may not be as quick and efficient as with a large company.
How Do I Make a Claim on My Co-Op Car Insurance
Much like traditional insurers, these co-op car insurance companies often have online options. The car insurance claims process is similar to a traditional insurer’s. Access comprehensive insights into our “How do you file a car insurance claim?”
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What Are My Other Alternatives for Traditional Car Insurance
For most individuals, a traditional car insurance company is going to be your only choice. And you can certainly do a lot to find cheaper coverage.
But the best way to save is to shop around. You can find a list of the top-rated companies at J.D. Powers, or you can use sites like the Better Business Bureau or A.M. Best to check up on car insurance companies. Discover insights in our “Where to Find Car Insurance Company Reviews.”
In some cases, you will find that your state participates in a state-funded insurance program. These programs are often reserved for individuals who cannot get car insurance from a traditional source because they have such a bad driving record or have multiple driving convictions.
In some states, you can opt for alternative car insurance, such as a bond that shows you can be responsible for paying for the damage from the car accident. These bonds aren’t cheap, often requiring $10,000 or more to cover the cost.
Geico consistently delivers exceptional value, making it a top choice for co-op car insurance.
Brad Larson Licensed Insurance Agent
In order to weigh your options, you have to know what is available. If you’re sick of Allstate, Chubb, Progressive, or State Farm, co-op insurance coverage might be for you. But if you don’t have the best driving record, you can still get discounts and shop around for cheaper coverage.
Finding cheap car insurance quotes is easy. Just enter your ZIP code into our free comparison tool below to instantly compare quotes near you.
Frequently Asked Questions
How can I get in touch with a co-op insurance contact for policy inquiries?
To contact co-op insurance for any policy inquiries or customer support, you can reach them through their main customer service line or via their official website’s contact page.
To find out more, explore our guide titled “How do you get competitive quotes for car insurance?“
What makes a company the best co-op insurance provider in the market?
A company is often considered the best co-op insurance provider if it combines excellent customer service, competitive pricing, comprehensive coverage options, and a strong financial stability rating.
Does it save you money?
Co-Op insurance may or may not save you money compared to traditional insurance. While premiums are generally lower, co-ops often offer fewer discounts and don’t consider certain factors that can affect costs.
By entering your ZIP code below, you can get instant car insurance quotes from top providers.
Why are co-op insurance companies smaller?
Co-Op insurers tend to stay small to keep costs down and ensure affordability for members. If they grow too large, overhead expenses increase, which can raise insurance costs.
How do I make a claim?
Making a claim on co-op car insurance is similar to traditional insurance. You can typically do it online or contact their customer service for guidance.
For additional details, explore our comprehensive resource titled “How long does a car insurance claim take to process?“
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Joel Ohman
Certified Financial Planner
Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...
Certified Financial Planner
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
