You have probably seen the commercials from car insurance companies like Allstate and GEICO that guarantee enormous savings. So you should just choose any of them, right?
It’s just not that simple, as there are a lot of unknown aspects such as what coverage limits you need, if you want the added protection of full coverage, and if you own a home, that all help calculate your car insurance rates. In this article, we will cover the different ways you can keep rates low and also should give you some help in finding cheaper rates.
One of the many considerations that help determine the amount you pay for auto insurance is where you live in San Diego. Cities with larger populations will most likely pay more, whereas areas with less people or fewer weather incidents benefit from lower prices.
The illustration below sorts the most expensive areas in California for high risk drivers to buy auto insurance in. San Diego shows up at #21 costing $1,381 on average, which is about $115 each month.
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Rate information is approximated as specific location information can influence price quotes greatly.
The make and model of vehicle you are insuring is a large factor when comparing the best cheap auto insurance for high risk drivers. Vehicles with high performance features, a lack of modern safety features, or a track record of large liability claims will cost substantially more to insure than safer models.
The next table shows insurance costs for the most economical vehicles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$3,279|
|Honda Accord EX 4-Dr Sedan||$3,289|
|Ford Escape XLT 2WD||$3,357|
|Chevrolet Impala LS||$3,673|
|Chevrolet Malibu LS||$3,707|
|Ford Explorer Eddie Bauer 2WD||$3,714|
|Ford F-150 XL Crew Cab 4WD||$3,745|
|Chevrolet Silverado LS Regular Cab 4WD||$3,753|
|Dodge Grand Caravan CV||$3,796|
|Jeep Wrangler Sahara 4WD 2-Dr||$3,803|
|Ford Edge SE AWD||$3,844|
|Nissan Altima 2.5 S 4-Dr Sedan||$3,874|
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Price data assumes single female driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-vehicle, and multi-policy. Price information does not factor in specific garaging location which can increase or decrease coverage rates substantially.
Looking at the rates, models like the Honda CR-V, Honda Accord, Ford Escape, Toyota Prius, and Chevrolet Impala are likely to be the cheaper vehicles to insure for high risk drivers. The cost of auto insurance will be more expensive just due to the fact that there is more exposure for high risk drivers, but in general those particular vehicles will most likely have the best rates available.
Liability only or full coverage
Lowering the price of car insurance should be important to most vehicle owners, and one of the fastest ways to buy cheaper insurance for high risk drivers is to not buy full coverage. The information below compares car insurance rates when comparing full coverage to liability only. The rates are based on a clean driving record, no claims, $500 deductibles, single marital status, and no policy discounts are applied.
If we average the cost for all age groups, physical damage coverage on your policy costs an extra $2,772 per year over and above liability only. That is a large expense which might make you wonder if physical damage coverage is worth the money. There is no written rule to drop physical damage insurance, but there is a general guideline you can use. If the yearly cost for physical damage coverage is 10% or more of replacement cost minus your deductible, then it may be the right time to buy liability only.
For example, let’s pretend your vehicle’s claim settlement value is $11,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company will settle for is $10,000 after paying the physical damage deductible. If you are paying over $1,000 annually for comprehensive and collision coverage, then you might consider buying liability only.
San Diego car insurance companies
Choosing the highest-rated car insurance provider can be a challenge considering how many companies there are to choose from in San Diego. The information in the lists below may help you choose which car insurance companies to look at buying from. The rankings below include the largest companies in America, so companies without a large exposure will not be included in these rankings.
Top 10 Major Auto Insurance Companies in San Diego Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA of Southern California – 92%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- The Hartford – 89%
- GEICO – 89%
- The General – 88%
- 21st Century – 88%
The chart below demonstrates how choosing different deductibles can increase or decrease yearly insurance costs when trying to find cheap insurance for high risk drivers. Data assumes a married female driver, comprehensive and collision coverage, and no discounts are factored in.
The chart above illustrates that a 40-year-old driver could reduce rates by $408 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $614 by switching to a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could save $1,008 each year by using higher deductibles when buying full coverage.
When choosing a higher deductible, it will now be necessary to have enough in a savings account to enable you to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
How to find low-cost auto insurance for high risk drivers
Below you’ll find a few money-saving solutions that can help you locate low-cost coverage.
- Discounts for being claim-free can be substantial
- Pay cheaper rates with good credit scores
- Save money by observing traffic laws and speed limits
- Safe vehicles generally have lower rates
- Do not get into accidents
- Shop around and save
The last tip is certainly significant, as we emphasized in this write-up. Car insurance prices vary considerably, so drivers shouldn’t be reluctant to switch to a new company if a cheaper price is available. Having a favorite company is fine, but it’s not a good idea if that devotion results in you overpaying a considerable chunk of change every month. Now is a great time to shop around and find cheaper auto insurance for high risk drivers in San Diego.