The vehicle model driven is one of the biggest factors when comparing the cheapest auto insurance for low credit scores. Vehicles with more horsepower, poor crash test ratings, or a high likelihood of having liability claims will cost more to insure than more modest models.
The information below outlines coverage rates for a selection of the most cost-effective automobiles to insure in California.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$863|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$948|
|Hyundai Elantra GLS Touring Station Wagon||$987|
|Ford Edge Limited 2WD||$1,001|
|Ford Escape Limited 2WD||$1,015|
|Chevrolet Malibu LS||$1,024|
|Toyota RAV4 Sport 2WD||$1,031|
|Honda Accord EX-L 4-Dr Sedan||$1,077|
|Toyota Camry XLE||$1,079|
|Kia Optima LX||$1,098|
|Ford Fusion Sport 4-Dr Sedan||$1,100|
|Dodge Grand Caravan SE||$1,106|
|Toyota Corolla XRS||$1,100|
|GMC Sierra SLE Crew Cab 4WD||$1,109|
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Premium data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Premium costs do not factor in Riverside, CA location which can increase or decrease premium rates significantly.
By looking at the data, we can tell that vehicles like the Honda CR-V, Jeep Wrangler, and Hyundai Elantra are some of the most budget-friendly vehicles to insure for bad credit.
Locating affordable insurance is not always easy, and deciding which companies have the best auto insurance rates for low credit scores involves more quotes for comparison. Every auto insurer uses a little different formula for setting prices, so let’s begin by taking a look at the most affordable auto insurance companies in California.
It’s important to know that Riverside auto insurance rates are calculated based on many things that will increase or decrease the price of your policy. This price fluctuation is why it is critical to perform a complete rate comparison to find the most budget-friendly auto insurance quotes for low credit scores. Rates are made up of many things and change frequently, so the best price when you last compared rates may now be priced much higher than other options.
Best Auto Insurance Prices in California
|Rank||Company||Cost Per Year|
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USAA generally has some of the lowest car insurance rates in Riverside at around $1,143 per year. Wawanesa, CSAA, Nationwide, and Century National would also make the list of some of the most economical Riverside, CA auto insurance companies.
In the above example, if you currently buy coverage from Century National and switched to Wawanesa, you may realize savings of in the neighborhood of $57. Drivers with 21st Century may save as much as $209 a year, and Grange policyholders might realize rate reductions of up to $334 a year.
To compare your rates to other California insurance companies, click here or visit any of the companies below.
Be aware that those premium estimates are averages for all types of drivers and the different vehicles they drive and are not factoring in an exact location for low credit scores. So the car insurance company that fits you best may not even be in the top 24 companies shown above. That points out the importance of why you need to compare rates from as many companies as possible using your own specific driver information and vehicle.
For bad credit, one of the more important things that are used to help calculate the amount you pay each year for auto insurance is your zip code in Riverside. Areas with increased crime or more people tend to pay slightly more, whereas areas with lower vehicle theft rates and fewer weather claims tend to receive slightly lower rates.
The information below lists the most expensive cities in California for low credit scores to buy an auto insurance policy in. Riverside shows up at #14 with an annual cost of $1,497 for the average policy, which is about $125 monthly.
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Prices are comparative as the specific Riverside residence address can impact insurance rates significantly.
Impact of speeding/accidents on auto insurance rates
In a perfect world, the ideal way to get the most affordable auto insurance rates for bad credit is to pay attention while driving and avoid accidents and violations. The illustration below shows how traffic citations and at-fault collisions can drive up auto insurance rates for different age groups. The prices are based on a single male driver, full physical damage coverage, $1,000 deductibles, and no other discounts are factored in.
The data in the chart shows the average cost of auto insurance in Riverside per year with no accidents and a clean driving record is $2,467. Get one speeding ticket and the average cost rises to $2,787, an increase of $320 each year. Then add in two accidents along with the one speeding ticket and the yearly cost of auto insurance for low credit scores goes up to an average of $5,801. That’s an increase of $3,334, or $278 per month, just for not driving safely!
Discount Riverside car insurance rates
Car insurance companies that offer quotes for low credit scores may also provide special discounts that could potentially reduce rates by 40% or more if you meet eligibility requirements. The best auto insurance companies and a summarized list of policyholder discounts are detailed below.
- Progressive discounts include online signing, multi-vehicle, multi-policy, good student, homeowner, online quote discount, and continuous coverage.
- MetLife may include discounts for defensive driver, accident-free, multi-policy, good driver, good student, and claim-free.
- Mercury Insurance offers premium reductions for anti-theft, low natural disaster claims, accident-free, good driver, location of vehicle, and age of vehicle.
- Nationwide has savings for business or organization, easy pay, multi-policy, family plan, anti-theft, and good student.
- GEICO policyholders can earn discounts including military active duty, anti-lock brakes, driver training, daytime running lights, and five-year accident-free.
- AAA includes discounts for pay-in-full, good driver, AAA membership discount, multi-policy, multi-car, good student, and education and occupation.
The diagram below visualizes the comparison of auto insurance rates with and without discounts applied to the policy premium. The premium estimates are based on a male driver, no accidents or driving violations, California state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with anti-theft, safe-driver, homeowner, defensive driving course, multiple policy, and passive restraint discounts applied. When drivers qualify for the discounts, the average amount saved each year on auto insurance for low credit scores is 28% or $516.
You may be paying too much for car insurance
Riverside auto insurance rates are impacted by many factors which can substantially change the price you pay for coverage. Simply having another birthday, having a teen driver, or getting a couple of tickets may cause policy rate changes resulting in some rates now being more affordable than others.
Additionally, insurers file new California auto insurance rates without warning to adjust for gains or losses. Higher than usual claims can result in a rate increase, while lower claim levels may cause cheaper Riverside car insurance rates.
The bar chart below shows a variety of companies that have the cheapest car insurance in Riverside, CA for a 35-year-old male driver with a good driving record, no prior claims, and excellent credit. If we look at prices based on his personal risk profile, USAA offers the most affordable car insurance rates in Riverside at $1,326 annually. This is $325 less than the average price paid by California drivers of $1,651. Wawanesa, CSAA, Nationwide, and Century National also make the list of the cheapest Riverside, CA auto insurance companies.
Now we will pretend the driver from the first rate comparison a claim, a lower credit score, and a speeding citation. Since each auto insurer uses a different method for filing rates in each state, comparing prices may now present a slightly different list of the cheapest companies as shown below.
Grange now has the best insurance rate in Riverside, CA with Allstate, Mercury, Progressive, and The Hartford also being competitive. This example proves why it is crucial to compare many different companies to find the best car insurance quotes for low credit scores.
Prices are calculated by many different factors and can change substantially, so the most economical option three years ago may now be wasting a lot of money.
The Riverside auto insurance agencies shown below can probably answer your questions and help you decide which coverages you need, since some people prefer to get some help when trying to find lower insurance rates for low credit scores. It’s not always easy to find the cheapest rates, so insurance agents licensed in the state of California can provide satisfaction knowing your policy gives you enough protection. To locate an agency nearest to you, click the link after the list or click here to compare rates now.
Gary Echito – State Farm Insurance Agent
3239 Chicago Ave – Riverside, CA 92507 – (951) 684-8450
Riverside Insurance Agency Inc.
#B, 125 W La Cadena Dr – Riverside, CA 92501 – (951) 684-3500
Applied General Agency
1485 Spruce St – Riverside, CA 92507 – (951) 686-6120
How to find cheaper auto insurance for low credit scores
It’s not impossible to find cheaper rates, and here are some of the better money-saving ideas that can help you find lower-cost coverage.
- Avoid accidents
- Higher physical damage deductibles lower rates
- Do not get traffic tickets
- Try to pay small claims out-of-pocket
- Good credit scores may lower your rates
- Home or renters coverage can save on auto insurance
- Check for cheaper rates once a year
The final tip is extraordinarily significant, as was pointed out in this write-up. Prices charged by car insurance companies adjust frequently, so don’t be tentative to switch to a new company if you find a better deal.
We understand brand loyalty, but it’s not a great idea if your bullheadedness ends up costing you money that could be used for better things. It only take a few minutes to shop around to find cheaper insurance for low credit scores in Riverside.