Figuring out which companies offer the best insurance rates for drivers with bad credit involves more time than just comparing a company or two. Each auto insurance company has their own formula for establishing rates, so we’ll go over the insurance companies with the overall cheapest rates in California.
Keep in mind that California insurance rates are calculated based on many things that can increase the cost of a policy. Simply improving your credit, buying another vehicle, or getting a ticket for careless driving may prompt premium changes resulting in some rates now being cheaper than competitors.
Cheapest Insurance Rates with Bad Credit
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,109 |
| 2 | Wawanesa | $1,181 |
| 3 | CSAA | $1,186 |
| 4 | Nationwide | $1,213 |
| 5 | Century National | $1,226 |
| 6 | 21st Century | $1,366 |
| 7 | Mercury | $1,488 |
| 8 | Grange | $1,491 |
| 9 | GEICO | $1,529 |
| 10 | Progressive | $1,542 |
| 11 | Allstate | $1,559 |
| 12 | The Hartford | $1,575 |
| 13 | Allied | $1,588 |
| 14 | MetLife | $1,606 |
| 15 | Esurance | $1,688 |
| 16 | Unitrin | $1,699 |
| 17 | State Farm | $1,699 |
| 18 | Travelers | $1,788 |
| 19 | Bristol West | $1,831 |
| 20 | Farmers | $1,946 |
| Find Your Rate Go | ||
USAA has some of the most affordable car insurance rates in Riverside at around $1,109 a year. Wawanesa, CSAA, Nationwide, and Century National also are some of the lowest-priced Riverside, CA car insurance companies.
As illustrated above, if you are currently insured with Nationwide and switched to USAA, you might achieve savings of in the vicinity of $104. Insureds with Century National could save as much as $117 a year, and 21st Century insureds might see rate reductions of $257 a year.
Be aware that those estimates are averages for all drivers and vehicles in California and and are not figured with an exact zip code location for drivers with bad credit. So the car insurance company that fits you best may not even be in the list above. That underscores the importance of why you need to quote rates from many companies using your own driver information and specific vehicle type.
The vehicle you are trying to insure is one of the main factors when looking for the best coverage for drivers with bad credit. Vehicles with high performance features, a lack of safety features, or an increased likelihood of liability claims will cost substantially more to insure than safer, lower-performance models. The next list outlines auto insurance rates for some of the most economical automobiles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $1,115 |
| Honda Accord EX 4-Dr Sedan | $1,193 |
| Honda CR-V EX 2WD | $1,198 |
| Dodge Grand Caravan SE | $1,221 |
| Dodge Ram Quad Cab ST 2WD | $1,313 |
| Ford F-150 Lariat Super Cab 2WD | $1,315 |
| Toyota Prius | $1,327 |
| Ford Explorer Eddie Bauer 2WD | $1,334 |
| Toyota Camry XLE | $1,360 |
| Honda Odyssey EX W/Rear Entertainment | $1,383 |
| Chevrolet Equinox LTZ 2WD | $1,393 |
| Volkswagen Jetta SE 4-Dr Sedan | $1,383 |
| Toyota RAV4 Limited 4WD | $1,412 |
| Chevrolet Malibu LT | $1,440 |
| Nissan Rogue SL AWD | $1,452 |
| Find Cheaper Rates Go | |
Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Rate quotes do not factor in specific Riverside, CA garaging location which can modify coverage rates substantially.
Looking at the numbers, you can conclude that vehicles like the Ford Escape, Honda Accord, and Honda CR-V should be a few of the most economical vehicles to insure for people with poor credit.
How to get discounts on Riverside insurance
Auto insurance companies that provide policies for drivers with bad credit may have special discounts that could lower prices by 40% or more if you qualify. A few popular companies and their possible discounts are outlined below.
- Farmers Insurance has savings for homeowner, alternative fuel, bundle discounts, multi-car, electronic funds transfer, and youthful driver.
- State Farm policyholders can earn discounts including Drive Safe & Save, Steer Clear safe driver discount, anti-theft, good student, driver’s education, defensive driving training, and multiple policy.
- Liberty Mutual may have discounts that include teen driver discount, new move discount, preferred payment discount, hybrid vehicle, multi-policy, newly retired, and newly married.
- MetLife offers premium reductions for multi-policy, good student, claim-free, accident-free, and defensive driver.
- Progressive may offer discounts for multi-policy, online signing, online quote discount, multi-vehicle, continuous coverage, and homeowner.
The chart below illustrates the difference between premium costs with and without discounts applied to the rates. The rates are based on a female driver, no claims or driving citations, California state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with multiple policy, accident-free, homeowner, anti-theft, claim-free, and multiple vehicle discounts applied. When taking advantage of discounts, theamount saved on insurance for drivers with bad credit is 28% or $532.
The illustration below demonstrates how deductibles can raise or lower insurance premiums when searching for cheap insurance for drivers with bad credit. The prices are based on a single female driver, comp and collision included, and no additional discounts are factored in.
The chart above illustrates that a 50-year-old driver could reduce rates by $420 a year by switching from a $100 deductible up to a $500 deductible, or save $632 by selecting a $1,000 deductible. Even younger drivers, like the 20-year-old example, could possibly save up to $1,068 or more by choosing a higher deductible. When raising deductibles, it’s a good idea to have emergency funds available to be able to cover the extra out-of-pocket expense associated with higher deductibles.
How to find low-cost insurance for drivers with bad credit
The list below shows some of the recommended penny-pinching ideas that can help you locate low-cost coverage.
- If possible, do not file small claims
- Safer vehicles cost less to insure
- At-fault accidents can raise rates significantly
- Do not get traffic citations
- Buy your homeowners policy from the same company as your auto insurance
- Do not insure for full coverage
- Compare rate quotes frequently
The final tip is particularly vital, as we emphasized in the article above. Prices charged by car insurance companies can change in a short period of time, so drivers shouldn’t be resistant to buy a different policy if a more affordable price is available.
Staying with the same car insurance company is fine, but we do not recommend it if your bullheadedness ends up costing you a wad of cash every year. If you have a few minutes, shop around and find cheaper insurance for drivers with bad credit in Riverside.