Who Has Affordable Car Insurance for a 20 Year Old Male in Riverside?

The words “economical” and “auto insurance” really shouldn’t be used in the same sentence, in particular when you are searching for the best car insurance rates for 20 year old guys. Because of the high cost, let’s get started by showing you a few of the factors that influence insurance rates, and see if we can help you lower the cost of your next policy.

One of the more important factors that are looked at to help calculate insurance cost is where you live. Cities with more crime and/or more people are more likely to pay higher prices, whereas more rural areas have the benefit of cheaper car insurance.

The table below lists the highest-priced areas in California for 20 year old guys to purchase car insurance in. Riverside makes the list at #11 with an annual cost of $1,527 for the average insured, which is around $127 each month.

How much does car insurance cost in Riverside, CA?
Rank City Annual Rate
1 Los Angeles $2,146
2 Glendale $2,079
3 Sacramento $1,720
4 San Francisco $1,711
5 Oakland $1,687
6 Long Beach $1,610
7 Santa Clarita $1,595
8 Stockton $1,588
9 San Bernardino $1,580
10 Garden Grove $1,570
11 Riverside $1,527
12 Fontana $1,519
13 Moreno Valley $1,491
14 Modesto $1,487
15 Santa Ana $1,483
16 Fresno $1,472
17 Anaheim $1,430
18 Huntington Beach $1,416
19 Fremont $1,403
20 Bakersfield $1,381
21 San Jose $1,381
22 Oxnard $1,358
23 San Diego $1,340
24 Chula Vista $1,337
25 Irvine $1,330
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Information shown are estimated as vehicle location can increase or decrease insurance rates substantially.

Determining which company quotes the best car insurance rates for 20 year old guys takes a tad more effort than just quoting one company’s rates. Every insurance company has a unique formula to determine rates, so let’s take a look at the car insurance companies with the overall best prices in Riverside.

It’s important that you understand Riverside car insurance rates are impacted by many things which can substantially decrease or increase the price you have to pay for coverage. Improving your credit rating, becoming a homeowner, or getting a DUI can produce rate changes that may make certain companies cheaper than competitors.

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Cheapest auto insurance in California ranked by cost per year
Rank Company Cost Per Year
1 USAA $1,143
2 Century National $1,178
3 Wawanesa $1,192
4 CSAA $1,198
5 Nationwide $1,213
6 21st Century $1,379
7 Grange $1,447
8 Allstate $1,497
9 Mercury $1,503
10 GEICO $1,529
11 Progressive $1,542
12 Allied $1,556
13 MetLife $1,590
14 The Hartford $1,591
15 State Farm $1,699
16 Unitrin $1,699
17 Esurance $1,756
18 Travelers $1,842
19 Bristol West $1,849
20 Farmers $2,026
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USAA generally has some of the best car insurance rates in Riverside at around $1,143 annually. This is $508 less than the average premium paid by California drivers of $1,651. Century National, Wawanesa, CSAA, and Nationwide are also some of the best Riverside, CA car insurance companies.

As the example above demonstrates, if you have coverage with CSAA and switched to Century National, you might realize savings of roughly $20. Policyholders with Nationwide might save as much as $35 a year, and 21st Century insureds might see rate reductions of $201 a year.

Understand that those premiums are averaged across all drivers and vehicles in California and do not take into consideration an exact vehicle garaging location for 20 year old guys. So the car insurance company that fits you best may not even be in the top 24 companies in the list above. That point stresses why you need to get quotes using your own driver and vehicle profiles.

Rate difference between full and liability-only coverage

Saving on car insurance is the goal of most people, and an effective way to pay less for insurance for 20 year old guys is to only pay for liability coverage. The information below illustrates the comparison of car insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums assume no accidents or driving violations, $500 deductibles, single marital status, and no other discounts are factored in.

If averaged for all ages, comprehensive and collision coverage on your policy costs $2,075 per year more than buying just liability insurance. That touches on the question if it’s worth it to buy full coverage. There is no set guideline of when to phase out physical damage coverage on your policy, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than around 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s say your vehicle’s replacement value is $11,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $10,500 after the deductible is paid. If you are paying in excess of $1,050 a year for physical damage coverage, then it may be the right time to buy liability only.

The information below shows how different deductible levels can influence insurance costs when getting quotes for cheap insurance for 20 year old guys. The premiums are based on a single male driver, comprehensive and collision coverage, and no discounts are applied.

The data above shows that a 30-year-old driver could lower rates by $410 a year by increasing from a $100 deductible to a $500 deductible, or save $616 by selecting a $1,000 deductible. Young drivers, such as the Age 20 example, could reduce their rates $1,190 every year by choosing a higher deductible.

When using a larger deductible, it is necessary to have enough funds in savings to enable you to cover the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.

Tickets and at-fault accidents raise rates

In a perfect world, the best way to maintain low car insurance rates in Riverside for young men is to drive cautiously and avoid accidents and traffic citations. The chart below demonstrates how traffic citations and at-fault collisions can drive up yearly insurance costs for different ages of insureds. The price estimates are based on a single female driver, full physical damage coverage, $500 deductibles, and no other discounts are factored in.

In the previous example, the average cost of car insurance per year with no violations or accidents is $1,978. Factor in one speeding ticket and the average cost rises to $2,243, an increase of $265 each year. Next add two accidents along with the one speeding ticket and the annual cost of car insurance for 20 year old guys increases to an average of $4,627. That’s an increase of $2,649, or $221 per month, just for not driving carefully!

How to find economical car insurance for 20 year old guys

Lowering your rates is not difficult, and here are many penny-pinching ideas that can help you quote lower-cost coverage.

The last idea is highly crucial, as we discussed in the prior information. Insurance rates can be changed at any time, so drivers shouldn’t hesitate to change to a new company if a lower price can be found. Having brand loyalty is commendable, but is isn’t recommended if that dedication is costing several hundred dollars every year. If you have a few minutes, now is a great time to shop around to find cheaper car insurance for 20 year old guys in Riverside.