The vehicle model that is being insured is probably the biggest factor that determines if you can find cheap auto insurance for high mileage drivers. Vehicles with high performance features, poor crash test ratings, or a history of substantial liability claims will cost more to insure than safer models.
The next table illustrates car insurance premiums for a selection of the most budget-friendly automobiles to insure in California.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$1,938|
|Toyota Tacoma Double Cab 4WD||$2,292|
|Jeep Wrangler Sport 4WD 2-Dr||$2,301|
|Honda Accord LX 4-Dr Sedan||$2,380|
|Honda CR-V LX 4WD||$2,388|
|Volkswagen Jetta S 2.5 Station Wagon||$2,405|
|GMC Sierra SLT Extended Cab 2WD||$2,456|
|Nissan Altima 3.5 SR 4-Dr Sedan||$2,462|
|Nissan Rogue S 2WD||$2,459|
|Chevrolet Silverado LT Extended Cab 2WD||$2,468|
|Honda Civic GX 4-Dr Sedan||$2,532|
|Ford Edge SEL AWD||$2,576|
|Toyota RAV4 Limited 2WD||$2,627|
|Dodge Grand Caravan CV||$2,668|
|Compare Cheap Rates Go|
Price data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Information does not factor in zip code location which can impact rates considerably.
By looking at the data, cars like the Ford Escape, Toyota Prius, and Toyota Tacoma should be the cheapest vehicles to insure for high mileage drivers.
Deciphering which company quotes the best insurance rates for high mileage drivers may require a bit more effort in order to find the best policy. Every car insurance company uses a little different formula for determining rates in each state, so let’s take a look at the insurance companies with the overall cheapest rates in Los Angeles, CA.
It’s a good idea to be aware that Los Angeles, CA insurance rates are calculated based on many things that can increase the price you pay. Turning one year older, becoming a homeowner, or having a fender bender can produce rate changes that can make some companies affordable when they were higher priced.
Best Insurance Companies in California
USAA offers some of the cheapest car insurance rates in Los Angeles at around $1,109 each year. Wawanesa, Century National, CSAA, and Nationwide also rank well as some of the more affordable Los Angeles, CA insurance companies.
As depicted above, if you are insured with Century National and switched to USAA, you may realize an annual premium reduction of about $69. Drivers with CSAA may save as much as $113 a year, and Nationwide policyholders might cut rates by $117 a year.
These estimates are averages for all types of insureds and vehicles and do not factor in an exact zip code location for high mileage drivers. So the auto insurance company that fits you best may not even be in the top 24 companies shown above. That is why you need to quote rates from many companies using your own driver information and specific vehicle type.
Should you buy full coverage?
Buying cheaper insurance is important to the majority of drivers, and one great way to find cheap insurance for high mileage drivers is to not pay for full coverage. The diagram below illustrates the comparison of insurance prices with liability coverage only compared to full coverage. The price estimates are based on no violations or claims, $1,000 deductibles, drivers are single, and no additional discounts are factored in.
If all age groups are averaged, comprehensive and collision coverage on your policy costs an additional $1,849 per year more than insuring for liability only. That proposes the question if you should buy full coverage at all. There is no exact formula for phasing out full coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is more than around 10% of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.
The example below illustrates how choosing a deductible can impact insurance costs when quoting cheap insurance for high mileage drivers. The data is based on a single male driver, comprehensive and collision coverage, and no other discounts are factored in.
In the chart above, a 30-year-old driver could save $552 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $830 by selecting a $1,000 deductible. Even younger drivers, like the Age 20 category, could lower their rates $1,640 or even more just by choosing higher deductibles. When raising deductibles, it is important to have enough funds in savings to be able to cover the extra out-of-pocket expense, which deters some people from using high deductibles.
Get discount Los Angeles car insurance
Car insurance companies that offer quotes for high mileage drivers may also provide discounts that could potentially reduce rates by as much as 25% or more if you meet specific eligibility requirements. Companies and a partial list of their discounts are:
- Progressive may include discounts for homeowner, good student, online signing, multi-policy, and multi-vehicle.
- The Hartford offers discounts for defensive driver, bundle, vehicle fuel type, air bag, and anti-theft.
- Mercury Insurance may offer discounts for professional/association, good student, multi-policy, age of vehicle, low natural disaster claims, anti-theft, and accident-free.
- GEICO offers discounts including anti-lock brakes, multi-policy, seat belt use, membership and employees, and multi-vehicle.
- AAA has discounts for good student, education and occupation, anti-theft, good driver, pay-in-full, and AAA membership discount.
- State Farm may have discounts that include Steer Clear safe driver discount, driver’s education, safe vehicle, good student, passive restraint, and multiple autos.
The example below illustrates the comparison of yearly insurance costs with and without discounts applied to the policy rates. The costs are based on a male driver, a clean driving record, no at-fault accidents, California state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with claim-free, homeowner, marriage, accident-free, multiple vehicle, and multiple policy discounts applied. When discounts are applied, the average amount saved each year on insurance for high mileage drivers is 28% or $698.
Tips to find the cheapest insurance for high mileage drivers
Here are some of the recommended thrifty ideas that can help you quote more affordable auto insurance.
- Raise your deductibles
- Do not insure for full coverage
- Get cheaper liability coverage by choosing a safer vehicle
- Home or renters coverage can save on auto insurance
- Pay for small claims rather than turning them in to your insurance company
- Better credit rating means better rates
- Shop around and save
The last item on the list is extremely critical, as we stressed in the prior article. Prices charged by companies in Los Angeles go up and down frequently, so don’t be hesitant to change insurance companies if a better rate can be found.
We understand brand loyalty, but it’s not a good idea if that devotion results in you overpaying money that could be used for better things. Now is a great time to compare rates to find cheaper insurance for high mileage drivers.