Cheap Car Insurance Companies In Idaho

The average semiannual cost of car insurance in the state of Idaho is $654.25. An insured premiums are influenced by more variables than purely their place of residence. Car insurance underwriters calculate auto insurance rates after assessing a range of criteria such as the policyholder’s age, driving record, marital status, and credit rating. We examined typical car insurance costs in Idaho across each of the predominant rating factors. We aim to provide consumers insight to identify a car insurance policy that meets their needs and budget.

*Data Methodology – Updated 2/28/2024

The Idaho car insurance rates are based on a 35-year-old male with the most popular car (Honda Accord) living in ID. The Quote is for full coverage with comprehensive at $500 deductible and collision at $500 deductible.

Idaho Minimum Liability Coverage

When driving a vehicle in Idaho, you are required by law to have minimum liability insurance coverage. This type of coverage helps pay for damage and injuries you cause to others in an accident. The minimum liability coverage in Idaho includes:

• Bodily Injury Liability: $25,000 per person and $50,000 per accident. This coverage pays for injuries that you cause to other people in an accident, up to these limits.
• Property Damage Liability: $15,000. This coverage pays for damage that you cause to other people’s vehicles or property, up to this limit.
• Uninsured and Underinsured Motorist Coverage: $25,000/$50,000. This coverage helps pay for your injuries if you are in an accident caused by a driver who does not have insurance or does not have enough insurance.

Penalties for Driving Without Insurance in Idaho

If you drive a vehicle in Idaho without insurance, you are breaking the law and subjecting yourself to penalties. Idaho requires all drivers to have liability insurance coverage, which pays for damages to others if you cause an accident. Not having insurance shows a lack of responsibility and puts others at risk financially. The penalties for driving uninsured in Idaho can be severe.

The first time you are caught driving without insurance in Idaho, you will receive a misdemeanor charge and a fine between $150 and $1,000. You will also have your driver’s license suspended for up to six months. This means you cannot legally drive any vehicle during your suspension period. In addition, your vehicle registration may be suspended or revoked.

For a second offense within five years, the penalties increase significantly. You face another misdemeanor charge, a fine between $300 and $1,000, and license suspension for one year. Your vehicle registration will also be suspended for one year.

For a third or subsequent offense within five years, you face a felony charge, a fine up to $5,000, and license suspension for two years. Your vehicle registration will be suspended for two years as well. You may also face jail time of up to five years.

Auto Insurance Rates in Idaho

Auto insurance rates in Idaho tend to be among the cheapest in the nation. There are a few reasons why this is the case.

Idaho is a rural state with a relatively low population density. This means fewer drivers on the road, resulting in fewer car crashes and insurance claims. The lack of congestion and traffic also contributes to lower overall accident rates.

Idaho also has relatively low vehicle theft rates. When fewer cars are being stolen, insurance companies have to pay out fewer claims related to theft, keeping premium costs down.

Idaho has some of the nation’s most lenient driving laws. While some may see this as less safe, from an insurance standpoint it means fewer tickets and violations on drivers’ records. Insurance rates tend to be higher for drivers with a history of citations.

The economy in Idaho also plays a role. The state has a lower cost of living compared to most of the country. When combined with relatively high median incomes, many Idaho residents can afford auto insurance without it being a significant financial burden. This allows insurance providers to set somewhat lower rates.

Overall, the combination of Idaho’s rural environment, lenient driving laws, lower vehicle crime, and reasonable economy have aligned to make auto insurance more affordable for residents. However, factors like a driver’s personal history, type of vehicle, and coverage levels will still impact individual premium costs. But on the whole, Idaho tends to offer some of the cheapest auto insurance rates nationwide.

Low Cost Car Insurance Programs and Discounts in Idaho

There are several options for reducing the cost of your Idaho car insurance. Some insurance companies offer low-cost programs specifically designed for lower-income individuals or those with poor credit histories. These programs can provide basic liability coverage at affordable rates.

Many standard insurance companies also offer a variety of discounts that can lower your premiums. Common discounts include:

• Multi-policy discounts – Bundling your home and auto insurance with the same company can save you 5-10% on both policies.
• Good student discounts – Full-time students under 25 with at least a B average can receive up to 25% off their premiums.
• Defensive driving course completion – Completing an approved defensive driving course can reduce your rates by up to 10%.
• Multi-vehicle discounts – Insuring two or more vehicles with the same company typically qualifies for a 5-10% discount.
• Anti-theft devices – Having an alarm system, immobilizer, or other anti-theft device can lower your rates by 3-8%.
• Annual payment discounts – Paying your full premium once per year can save you 1-3% compared to monthly payments.
• Low annual mileage – Driving under 8,000 to 10,000 miles per year may qualify you for a lower-risk premium.
• Senior citizen discounts – Drivers over 55 often see premium reductions of 5-25% due to lower accident rates.
• Military discounts – Active or retired military members may receive a discount of up to 25% from some insurers.

Idaho Car Insurance Statistics

Idaho has some interesting statistics when it comes to car insurance. Idaho has one of the lowest average insurance rates in the country at around $800 per year. There are a few reasons for this.

First, Idaho has a low population density. With only 1.7 million residents spread across a large land area, there are simply fewer cars on the road compared to more populated states. This means less traffic and fewer accidents, translating to lower insurance costs.

Secondly, Idaho has a low crime rate overall which carries over to fewer vehicle thefts and acts of vandalism against vehicles. When insurance companies calculate risk, places with less crime result in lower premiums.

Another factor is Idaho’s weather. The state experiences all four seasons but has a relatively mild climate with less extreme weather events compared to some other states. This means fewer claims for weather-related incidents like hail damage, flooding, and fallen trees hitting cars.

Idaho also has relatively young vehicles on the road. The average age of a vehicle in the state is around 9 years old. Newer vehicles tend to have more safety features that reduce collision claims, so they are considered lower risk by insurers.

All these factors combined help explain why Idaho continues to be one of the most affordable states for car insurance. However, rates can vary significantly between different cities and regions within the state. Urban areas like Boise tend to have higher insurance costs due to more traffic, more claims, and higher repair costs. But even in Boise, rates remain below the national average.

The 10 Largest Idaho Car Insurance Companies

Idaho drivers have many insurance companies to choose from when shopping for car insurance. Here are the 10 largest car insurance companies in the state of Idaho based on market share:

1. State Farm – State Farm has the largest share of the Idaho car insurance market at nearly 23%. They offer a wide range of coverage options and are known for providing competitive rates.
2. Farmers Insurance – Farmers holds the second largest market share in Idaho at around 13%. They have been operating in the state for over 70 years and offer many discounts and coverage options.
3. GEICO – GEICO has grown quickly in Idaho and now holds around 11% of the market. They are known for offering some of the lowest car insurance rates in the state.
4. Allstate – Allstate has a market share of just over 10% in Idaho. They offer many discounts and usage-based insurance programs to help lower premiums.
5. Progressive – Progressive holds around 9% of the Idaho car insurance market. They are known for offering simple coverage options and a wide range of discounts.
6. Liberty Mutual – Liberty Mutual insures over 6% of Idaho drivers. They offer many coverage options and discounts targeted towards specific customer groups.
7. USAA – Only available to military members and their families, USAA has a small but loyal customer base in Idaho. They are well known for providing excellent customer service.
8. AAA – AAA has a long history in Idaho and insures over 3% of drivers. They offer many discounts for members of their automobile club.
9. Travelers – Travelers has a small but growing market share in Idaho of around 3%. They offer commercial auto insurance in addition to personal auto policies.
10. Amica – Amica is a smaller national insurer that holds around 2% of the Idaho market. They are known for providing high-quality customer service.