You’ve seen the captivating commercials from auto insurance companies like State Farm and Liberty Mutual that claim big savings. So drivers should just pick the one with the catchiest commercial, right?
Unfortunately, it’s just not that easy, as there are a whole slew of unknown elements like your marital status, your gender, the area where you live, and if you have a tendency to get into accidents, that all impact the cost of your policy. We will touch on the best ways to save on auto insurance and hopefully give you enough understanding to have some help in finding cheaper rates.
The vehicle model to be insured is probably the biggest factor when comparing the most economical auto insurance for good students. Vehicles with reasonable performance levels, an excellent safety record, or low incidents of liability claims will cost quite a bit less to insure than high performance models.
The table below illustrates car insurance rates for a selection of the most economical vehicles to buy insurance for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$4,226|
|Ford Escape Limited 2WD||$4,263|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$4,715|
|Toyota Tacoma 4WD||$4,752|
|Ford Explorer XLT 2WD||$4,762|
|Ford Focus S 4-Dr Sedan||$4,972|
|Ford Edge SE AWD||$4,979|
|Chevrolet Impala LS||$4,972|
|GMC Sierra SLE Regular Cab 2WD||$5,010|
|Chevrolet Malibu LS||$5,020|
|Ford Fusion S 4-Dr Sedan||$5,010|
|Toyota RAV4 4WD||$5,016|
|Chevrolet Equinox LS 2WD||$5,010|
|Dodge Grand Caravan Crew||$5,047|
|Find Cheaper Rates Go|
Price data assumes single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate information does not factor in specific garaging location which can alter premium rates noticeably.
Looking at the data, we can presume that vehicles like the Honda CR-V, Ford Escape, Toyota Prius, Jeep Wrangler, and Toyota Tacoma are some of the cheapest vehicles to insure for student drivers.
One of the many considerations that determine the amount you pay each year for auto insurance is where your car is garaged in Riverside. Regions with larger populations or more claims will most likely have higher rates, whereas less populated areas tend to receive slightly lower rates.
The following table lists the most expensive areas in California for good students to buy an auto insurance policy in. Riverside is ranked #14 with a yearly premium of $1,527 for the average insured, which is around $127 each month.
|Rank||City||Premium Per Year|
|Find Cheaper Rates Go|
Information shown are approximated as zip code location can impact auto insurance rates significantly.
Ending up with a good quality auto insurance provider can be difficult considering how many companies there are to choose from in Riverside. The information below can help you decide which auto insurance companies to look at when insurance shopping for good students.
The rankings below are only comprised of major nationwide insurance companies, so smaller companies will not be included in these rankings. To compare prices from these top-rated insurers and more, click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|AAA of Southern California||91||94||97||92%||A+||94.1|
|Compare Rates Now Go|
Data Source: Insure.com Best Car Insurance Companies
Rate comparison of full coverage and liability-only
Saving on insurance is important to the majority of vehicle owners, and one of the easiest ways to save on the cost of insurance for good students is to not insure for full coverage. The diagram below shows the difference between insurance costs with liability coverage only compared to full coverage. The rates are based on no tickets, no at-fault accidents, $100 deductibles, single status, and no discounts are taken into consideration.
As an overall average, physical damage coverage on your policy costs an additional $2,812 per year more than just insuring for liability. That may make you wonder if you should buy full coverage. There is no definitive rule to exclude physical damage coverage, but there is a general guideline. If the annual cost of having full coverage is more than around 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s say your vehicle’s settlement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $3,000 after paying your policy deductible. If premium cost is more than $300 a year to have full coverage, then you might want to think about dropping full coverage.
There are some circumstances where buying only liability insurance is not recommended. If you haven’t paid off your loan, you have to keep full coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not opt for liability only.
How to find budget-friendly insurance for good students
Below you’ll find some of the recommended penny-pinching ideas that can help you find cheap car insurance.
- Avoid getting citations and tickets
- Do not get into accidents
- Vehicles with good safety ratings are usually cheaper to insure
- Buying home and auto together can help save money
- If possible, do not file small claims
- Keep rates low by comparing prices once a year
That last idea is highly important, as we stressed in this piece. Prices charged by car insurance companies in Riverside can change in a short period of time, so drivers shouldn’t hesitate to switch companies if you can save money. Having a favorite company is great, but it’s not a great idea if your bullheadedness ends up costing you hundreds every year. It only take a few minutes to compare rates to find cheaper insurance for good students.
The agents listed below can help you decide which insurance coverage will be best for you, as some drivers wish to get some help when comparing insurance rates for student drivers. It can be challenging to find the best policy yourself, so getting advice from a licensed California insurance agent can add comfort knowing your policy gives you suitable coverage if you ever need to use it.
To find a Riverside insurance agent by location nearest to you, click the link at the bottom.
Enrique Martinez – State Farm Insurance Agent
9305 Magnolia Ave – Riverside, CA 92503 – (951) 351-2085
Mike Orme – State Farm Insurance Agent
10452 Magnolia Ave – Riverside, CA 92505 – (951) 688-8206
6809 Indiana Ave – Riverside, CA 92506 – (877) 898-9333
Chris Folsom Insurance Agency
3727 6th St – Riverside, CA 92501 – (951) 680-0575
AIS | Auto Insurance Specialists | Riverside
1600 Iowa Ave #100 – Riverside, CA 92507 – (951) 782-8100