I can't think of a single person who looks forward to buying auto insurance, particularly when the cost is way too high.
Shockingly, most auto insurance buyers have purchased from the same company for over three years, and just under half have never compared auto insurance rates at all. The average driver in Lakewood could save almost 35% a year just by comparing rates, but most undervalue how much savings they would realize if they bought a different policy.
People have multiple insurers to purchase coverage from, and though it is a good thing to have a selection, it can be more difficult to adequately compare rates.
Our goal in writing this article help you learn how car insurance quotes work and some tips to save money. If you have coverage now, you stand a good chance to be able to shop for the lowest rates using these techniques. Although California vehicle owners can benefit by having an understanding of how companies charge you for coverage and use it to find better rates.
Find cheap auto insurance with these tips
One of the most helpful ways to save on auto insurance is to to have a grasp of some of the elements that come into play when calculating your premiums. If you understand what impacts premium levels, this enables you to make decisions that can help you get big savings. Lots of things are taken into consideration when pricing auto insurance. Most are fairly basic like a motor vehicle report, but some are more obscure such as your credit history or your financial responsibility.
The factors shown below are some of the major factors used by companies to determine your prices.
- Excellent credit equals lower costs - An insured's credit score is a big factor in determining premium rates. Therefore, if your credit could use some work, you could be paying less to insure your vehicle by repairing your credit. Insureds that have high credit ratings tend to file fewer claims and have better driving records than those with bad credit.
- Cut prices and deter theft - Owning a car with advanced anti-theft systems can earn a premium discount. Advanced theft deterrents such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all hinder auto theft.
- Expect high rates for teens - Inexperience drivers tend to get distracted easily when behind the wheel so they pay higher auto insurance rates. Older drivers are more cautious drivers, cost insurance companies less in claims, and are generally more financially stable.
- Being married is a good thing - Having a significant other may cut your premiums on your policy. Having a significant other may mean you are more stable financially it has been statistically shown that married drivers tend to file fewer claims.
To find cheaper prices, there are a couple of ways to compare rate quotes from lots of California auto insurance companies. The best way to find cheaper rates consists of obtaining rate quotes online.
Comparison shopping rate quotes online is easy and it makes it obsolete to drive around to and from local Lakewood insurance agencies. The ability to buy insurance online can eliminate the need for a local agent unless your situation requires the professional assistance only provided by licensed Lakewood agents. Some companies do allow you to comparison shop online and still use a local Lakewood agent.
When comparison shopping, making a lot of price comparisons increases the chance that you will find a better price. Some companies don't provide quotes over the internet, so it's important to compare quotes from those companies as well.
The auto insurance companies shown below are ready to provide price comparisons in Lakewood, CA. If multiple companies are listed, we suggest you visit two to three different companies to get the best price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Silverado LS Crew Cab 2WD||$1,340||$670||$112|
|Dodge Grand Caravan SXT||$1,416||$708||$118|
|Dodge Ram Crew Cab Sport 2WD||$1,788||$894||$149|
|Ford Escape XLS 4WD||$1,482||$741||$124|
|Ford Explorer Limited AWD||$1,566||$783||$131|
|Ford F-150 Lariat Crew Cab 4WD||$1,194||$597||$100|
|Ford Focus SE 4-Dr Sedan||$1,364||$682||$114|
|GMC Sierra SL Crew Cab 2WD||$1,258||$629||$105|
|Honda Accord LX 4-Dr Sedan||$1,002||$501||$84|
|Honda CR-V EX 2WD||$1,128||$564||$94|
|Honda Civic DX 4-Dr Sedan||$1,848||$924||$154|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$1,292||$646||$108|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,606||$803||$134|
|Toyota Camry XLE||$1,664||$832||$139|
|Toyota Corolla S||$1,648||$824||$137|
|Toyota RAV4 Limited 4WD||$1,348||$674||$112|
|Get Your Own Custom Quote Go|
Data rating is based on married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Rate quotes do not factor in specific Lakewood garaging location which can alter coverage rates noticeably.
How accidents and violations affect rates
The chart below shows how violations and accidents drive up Ford Escape insurance costs for different insured age categories. The rate quotes are based on a married female driver, full coverage, $100 deductibles, and no discounts are factored in.
Ford Escape rates are for example purposes only. To get rates for your specific vehicle, click here.
Insuring your vehicle just makes sense
Despite the high insurance cost in Lakewood, maintaining insurance is required for several reasons.
- Most states have minimum liability requirements which means state laws require specific limits of liability protection in order to get the vehicle licensed. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
- If your vehicle has a loan, almost all lenders will have a requirement that you carry insurance to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the bank may insure your vehicle at a much higher premium rate and require you to pay for the much more expensive policy.
- Car insurance protects both your car and your personal assets. Insurance will also pay for many types of medical costs for not only you but also any passengers injured in an accident. As part of your policy, liability insurance will also pay to defend you if someone files suit against you as the result of an accident. If mother nature or an accident damages your car, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of having insurance are definitely more than the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver is currently overpaying as much as $810 a year so it's very important to do a rate comparison at every policy renewal to make sure the price is not too high.
Take advantage of every insurance discount
Companies that sell car insurance don't list the complete list of policy discounts in a way that's easy to find, so the following list contains both the well known as well as the least known insurance savings.
- Save with More Vehicles Insured - Drivers who insure multiple vehicles with the same company can reduce rates for all insured vehicles.
- Seat Belts Save more than Lives - Drivers who require all vehicle occupants to buckle up could cut 10% or more off PIP or medical payments premium.
- Theft Deterrent Discount - Anti-theft and alarm system equipped vehicles have a lower chance of being stolen and will qualify for a discount on a Lakewood auto insurance quote.
- Passive Restraints and Air Bags - Vehicles equipped with air bags or motorized seat belts can qualify for discounts as much as 30%.
- Include Life Insurance and Save - Not every insurance company offers life insurance, but if they do you may earn a small discount if you purchase some life insurance too.
- Discount for Multiple Policies - If you can bundle your auto and home insurance and place coverage with the same company you could earn a discount of approximately 10% to 15%.
- Mature Driver Discount - If you're over the age of 55, you could receive a slight reduction on a Lakewood auto insurance quote.
- Defensive Driver Discounts - Successfully completing a safe driver class could cut 5% off your bill depending on where you live.
- Memberships - Joining specific professional or occupational memberships or organizations could qualify you for a break on your bill.
- Paperwork-free - Many companies will provide an incentive for signing up on their website.
Keep in mind that most discount credits are not given to all coverage premiums. Some only reduce specific coverage prices like medical payments or collision. So when the math indicates it's possible to get free car insurance, nobody gets a free ride.
To locate companies that offer some of these discounts in California, follow this link.
Cheap insurance prices are available
When shopping online for insurance, never skimp on critical coverages to save a buck or two. There are too many instances where an insured dropped uninsured motorist or liability limits to discover at claim time that the small savings ended up costing them much more. Your focus should be to buy enough coverage for the lowest price while still protecting your assets.
Budget-friendly insurance in Lakewood can be purchased both online and from local insurance agents, so you need to shop Lakewood auto insurance with both to have the best rate selection. Some insurance providers may not provide online price quotes and usually these regional carriers only sell coverage through local independent agents.
We just showed you some good ideas how you can shop for insurance online. It's most important to understand that the more companies you get premium rates for, the better your chances of lowering your premium rates. Consumers could even find that the lowest car insurance rates are with a small local company. These smaller insurers may often insure only within specific states and give getter rates compared to the large companies like Progressive and GEICO.
More tips and info about insurance is located in these articles:
- Insurance Losses by Make and Model (iihs.org)
- What is the Cheapest Car Insurance in San Diego, California? (FAQ)
- Who Has Affordable California Car Insurance Quotes for Unemployed Drivers? (FAQ)
- How Much is Car Insurance for Business Use in California? (FAQ)
- What is the Cheapest Car Insurance in San Francisco, California? (FAQ)
- Property Damage Coverage (Liberty Mutual)
- Rollover Crash FAQ (iihs.org)
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)