Comparing quotes for cost effective insurance is confusing at best, and figuring out which insurers offer the best insurance rates for electric cars takes even more rate comparisons. Each auto insurance company uses different criteria for establishing rates, so we’ll take a look at the lowest cost insurance companies in California.
It’s a good idea to know that California insurance rates are based on many factors that control the cost of having a policy. This price variability is why it is critical to compare lots of rates when trying to find the best car insurance quotes for electric cars. Prices are impacted by many things and change substantially, so the best company three years ago may now be an over-priced policy.
Find the Best Cheap Insurance for EV’s
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,121 |
| 2 | Wawanesa | $1,146 |
| 3 | Century National | $1,190 |
| 4 | Nationwide | $1,226 |
| 5 | CSAA | $1,234 |
| 6 | 21st Century | $1,325 |
| 7 | Grange | $1,447 |
| 8 | GEICO | $1,529 |
| 9 | Allied | $1,541 |
| 10 | Allstate | $1,543 |
| 11 | Mercury | $1,548 |
| 12 | Progressive | $1,558 |
| 13 | MetLife | $1,590 |
| 14 | The Hartford | $1,639 |
| 15 | Esurance | $1,688 |
| 16 | Unitrin | $1,699 |
| 17 | State Farm | $1,733 |
| 18 | Bristol West | $1,795 |
| 19 | Travelers | $1,860 |
| 20 | Farmers | $1,966 |
| Find Your Rate Go | ||
USAA may offer some of the best car insurance rates in Riverside at around $1,121 annually. Wawanesa, Century National, Nationwide, and CSAA would also be considered some of the cheaper Riverside, CA auto insurance companies.
In the rate table above, if you have coverage with Wawanesa and switched to USAA, you could realize savings of about $25. Customers with Century National could save as much as $69 a year, and Nationwide customers might reduce prices by as much as $105 a year.
Bear in mind that those prices are averages for all types of drivers and the different vehicles they drive and do not take into consideration an exact location for electric cars. So the insurer that can offer you the best rate may not even be in the top 24 companies shown above. That emphasizes why you need to get car insurance quotes using your own individual information.
The vehicle model to be insured is one of the biggest factors in finding the best cheap auto insurance for electric cars. Vehicles with lots of horsepower, poor crash test ratings, or high incidents of liability claims will cost significantly more to insure than more modest models.
The data below presents auto insurance costs for a number of the most economical vehicles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $981 |
| Honda Accord LX 4-Dr Sedan | $986 |
| Toyota Tacoma 4WD | $1,102 |
| Chevrolet Equinox LT AWD | $1,163 |
| Toyota RAV4 Sport 4WD | $1,170 |
| Jeep Grand Cherokee Laredo 4WD | $1,163 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,170 |
| Chevrolet Impala LTZ | $1,223 |
| Toyota Prius | $1,244 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,259 |
| Dodge Grand Caravan CV | $1,264 |
| Ford Edge SEL AWD | $1,304 |
| Nissan Rogue SL AWD | $1,307 |
| Ford Escape Limited 4WD | $1,311 |
| Kia Optima SX | $1,329 |
| Nissan Altima 2.5 S 2-Dr Coupe | $1,338 |
| Chevrolet Silverado 3500HD LTZ Crew Cab Diesel 2WD | $1,352 |
| Ford Explorer Limited AWD | $1,354 |
| Honda Civic DX 2-Dr Coupe | $1,361 |
| Chevrolet Silverado 2500HD LT Crew Cab 2WD | $1,390 |
| Find Cheaper Rates Go | |
Prices above based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Rate information does not factor in vehicle location which can affect rates considerably.
Looking at the data, we can assume that makes and models like the Honda CR-V, Honda Accord, Toyota Tacoma, Chevrolet Equinox, and Toyota RAV4 should be the most economical vehicles to insure for eco-friendly vehicles.
For eco-friendly vehicles, one of the largest things that aid in calculating the amount you pay for auto insurance is where you live in Riverside. Areas with more people or even just a higher incidence of claims tend to pay slightly more, whereas areas with lower crime rates and fewer weather claims have the enjoyment of a little cheaper coverage.
The next table shows the highest-priced areas in California for electric cars to purchase a policy in. Riverside makes the list at #12 with an annual premium of $1,542 for the average insurance policy, which is approximately $129 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Glendale | $2,142 |
| 2 | Los Angeles | $2,104 |
| 3 | San Francisco | $1,745 |
| 4 | Oakland | $1,704 |
| 5 | Sacramento | $1,703 |
| 6 | San Bernardino | $1,644 |
| 7 | Long Beach | $1,578 |
| 8 | Garden Grove | $1,570 |
| 9 | Fontana | $1,566 |
| 10 | Stockton | $1,556 |
| 11 | Moreno Valley | $1,551 |
| 12 | Riverside | $1,542 |
| 13 | Santa Clarita | $1,533 |
| 14 | Modesto | $1,487 |
| 15 | Santa Ana | $1,483 |
| 16 | Fresno | $1,457 |
| 17 | Anaheim | $1,444 |
| 18 | Huntington Beach | $1,416 |
| 19 | Irvine | $1,384 |
| 20 | San Jose | $1,381 |
| Find Cheaper Rates Go | ||
Information shown are comparative as specific Riverside garaging address can revise prices noticeably.
The chart below demonstrates how deductibles can increase or decrease insurance costs when searching for cheap insurance for electric cars. The premiums assume a married male driver, full coverage, and no additional discounts are factored in.
A 30-year-old driver could save $460 a year by switching from a $100 deductible to a $500 deductible, or save $692 by choosing a $1,000 deductible. Young drivers, like the Age 20 chart data, have the ability to save as much as $1,398 or more by using a higher deductible.
When using a larger deductible, it will be important to have plenty of money set aside to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Discount Riverside insurance
Car insurance companies that offer cheap quotes for electric cars may also give you discounts that could reduce prices by 25% or more if you can meet the requirements. The best insurance companies and the discounts they provide are:
- Travelers has savings for payment discounts, good student, hybrid/electric vehicle, new car, and IntelliDrive.
- 21st Century discounts include driver training, good student, air bags, anti-lock brakes, teen driver, and homeowners.
- State Farm may offer discounts for Drive Safe & Save, student away at school, good student, defensive driving training, and good driver.
- GEICO may include discounts for anti-lock brakes, good student, emergency military deployment, military active duty, air bags, and membership and employees.
- SAFECO offers premium reductions for teen safety rewards, teen safe driver, bundle discounts, accident prevention training, and anti-theft.
- AAA policyholders can earn discounts including good student, AAA membership discount, good driver, education and occupation, anti-theft, multi-car, and multi-policy.
The information below illustrates the comparison of insurance rates with and without some available policy discounts. Data assumes a male driver, no tickets, no at-fault accidents, California state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multiple policy, claim-free, marriage, passive restraint, accident-free, and homeowner discounts applied. When these discounts are applied to the policy premium, theamount saved on insurance for electric cars is 28% or $863.
Your low-price policy may be costing you money
California insurance rates are impacted by many factors that can increase the policy premium. Getting older, buying a different home, or having an accident can trigger rate changes that can cause some rates to be more affordable than others. In addition, insurance companies file new rates every year or even multiple times each year to adjust for gains or losses. Higher than normal claims may cause price increases, while profitable underwriting may cause more affordable Riverside car insurance rates.
The bar chart below shows rates for the cheapest car insurance in Riverside, CA for a 45-year-old male driver with no accidents or violations, and a high credit rating. If we estimate rates based on his current situation, USAA has the lowest car insurance rates in Riverside at $1,260 a year. This is $391 less than the average rate paid by California drivers of $1,651. Wawanesa, CSAA, Century National, and Nationwide are also included in the cheapest Riverside, CA auto insurance companies.
Now we will pretend the driver in the first chart a chargeable accident, a lower credit rating, and a couple of points charged on his driving record. Since each auto insurance company has a different process to determine rates, getting updated rate quotes may result in a different list of companies as shown below.
Grange now has the cheapest insurance rate in Riverside with GEICO, Mercury, Allied, and Progressive also having competitive pricing. This example shows why Riverside drivers need to perform an extensive rate comparison when trying to get the most economical auto insurance quotes for electric cars. Insurance prices can be determined by many factors and can increase or decrease at any time, so the best option three years ago may now cost much more than other companies.