Trying to find low-priced auto insurance is hard enough, and deciding which company quotes the most affordable auto insurance rates for drivers with good credit involves a bit more work.
Each auto insurance company has a unique approach to determine rates, so we’ll take a look at the most affordable auto insurance companies in California. We do need to point out that Los Angeles auto insurance rates are impacted by many things that may substantially change the price you have to pay. This price fluctuation is why consumers need to take the time to perform an extensive rate comparison when trying to get the cheapest auto insurance rates for drivers with good credit. Rates can be altered by many risk factors and can change without notice, so the best option three years ago may now be an over-priced policy.
Best Cheap Insurance Rates for High Credit
USAA quotes some of the cheapest car insurance rates in Los Angeles at around $1,121 a year. This is $530 less than the average price paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide also rank well as some of the best Los Angeles, CA insurance companies.
As shown in the rates above, if you are a policyholder with CSAA and switched to Wawanesa, you may see savings of roughly $65. Customers with Nationwide could save as much as $69 a year, and 21st Century customers might cut rates by $209 a year.
To find out how your current rates compare, click here to begin a quote or visit several of the following companies.
These policy rates are averaged for all types of drivers and the different vehicles they drive and are not factoring in a specific vehicle garaging location for drivers with good credit. So the car insurance company that has the cheapest rates for you may not even be in the top 24 companies in the list above. That point stresses why you need to compare rates from as many companies as possible using your own specific driver and vehicle information.
The vehicle model requiring coverage is a large consideration when comparing affordable insurance for drivers with good credit. Vehicles with higher performance, a lack of advanced safety features, or a history of substantial liability claims will cost significantly more to insure than more modest models.
The information below features coverage rates for a selection of the cheaper vehicles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX 4WD||$2,393|
|Chevrolet Malibu LS||$2,525|
|Ford Escape Limited 4WD||$2,604|
|Honda Civic VP 4-Dr Sedan||$2,610|
|Ford Edge Sport 2WD||$2,659|
|Nissan Rogue S AWD||$2,706|
|Jeep Wrangler Sahara 4WD 2-Dr||$2,712|
|Chevrolet Impala LS||$2,721|
|Toyota Tacoma Double Cab 4WD||$2,768|
|Honda Odyssey EX||$2,778|
|Ford Explorer Eddie Bauer 4WD||$2,821|
|Toyota RAV4 Limited 4WD||$2,844|
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Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Premium amounts do not factor in Los Angeles, CA location which can revise prices greatly.
Looking at the numbers, we can infer that models like the Honda CR-V, Chevrolet Malibu, and Ford Escape are a few of the more affordable vehicles to insure for financially responsible drivers.
For financially responsible drivers, one of the more important considerations that are looked at to help calculate the cost of insurance is where you live in Los Angeles. Cities with more crime and/or more people will most likely have higher rates, whereas areas with less crime or weather claims profit from lower rates.
The information below sorts the highest-priced places in California for drivers with good credit in which to buy car insurance. Los Angeles ranks #1 with an annual rate of $2,083 for the average policyholder, which is around $174 per month.
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Premium amounts are approximated as the specific geographic location can alter premiums greatly.
Impact of careless driving on Los Angeles auto insurance rates
The best way to snag good auto insurance prices in Los Angeles for financially responsible drivers is to be a cautious driver and not receive tickets or have accidents. The illustration below shows how violations and at-fault fender-benders can influence yearly insurance costs for different insured age categories. The price estimates are based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no policy discounts are applied.
In the example above, the average cost of auto insurance per year with no accidents or violations is $2,772. Factor in one speeding ticket and the average cost hikes up to $3,128, an increase of $356 each year. Now get one accident along with the one speeding ticket and the 12-month cost of auto insurance for drivers with good credit increases to an average of $4,127. That’s an increase of $1,355, or $113 per month, just for not being a responsible driver!
The illustration below illustrates how choosing a deductible can affect insurance prices when researching cheap insurance for drivers with good credit. Data assumes a single male driver, comprehensive and collision coverage, and no other discounts are factored in.
The data above shows that a 50-year-old driver could pocket $362 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $546 by switching to a $1,000 deductible. Youthful drivers, like the Age 20 category, could potentially save $1,190 annually by using higher deductibles when buying full coverage. When increasing deductibles, it is necessary to have additional savings on hand to enable you to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Why you should be shopping around
California auto insurance rates are calculated based on many things that can increase the cost of a policy. Simply getting older, getting divorced, or getting a DUI can cause premium changes that can cause some rates to be more affordable than the competition.
In addition, companies amend premium rates every year or even multiple times each year as an adjustment for underwriting gains or losses. Significantly higher losses may cause higher rates, while less frequent claims may produce cheaper Los Angeles car insurance rates.
The graph below shows which company has the cheapest car insurance in Los Angeles, CA for a 30-year-old male driver with no accidents, a clean driving record, and good credit. If we estimate rates based on his current risk profile, USAA may offer the lowest car insurance rates in Los Angeles at $1,882 annually. This is $231 more than the average rate paid by California drivers of $1,651. Century National, Wawanesa, CSAA, and Nationwide are the remaining top five cheapest Los Angeles, CA auto insurance companies.
In this next rate comparison, we will give the driver from the above example a couple of claims, poor credit, and a speeding ticket. Due to the fact that every auto insurer has a unique approach to set premium rates, comparing insurance quotes may now show a completely different list of affordable companies as shown below.
Grange now has the cheapest insurance rate in Los Angeles with Mercury, Progressive, Allstate, and Allied now rounding out the top five. This shows why it is so important to compare many different companies when trying to find cheap auto insurance rates for drivers with good credit.
Prices are made up of many risk factors and change dramatically, so the cheapest rate the last time you shopped around may now not even be in the top five.