For older drivers, one of the largest considerations that help determine the price you pay for insurance is your zip code in Riverside. Areas with more people or even just a higher incidence of claims tend to pay more, whereas areas with less crime or weather claims benefit from having to pay less for coverage.
The illustration below sorts the highest-priced places in California for drivers over age 60 to purchase a policy in. Riverside shows up at #12 costing $1,542 for car insurance, which is approximately $129 monthly.
|Rank||City||Premium Per Year|
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Premium costs are approximated as the vehicle garaging location can influence premiums substantially.
Finding reliable, cheap auto insurance is difficult, and determining which company offers the cheapest car insurance rates for drivers over age 60 will take even more perseverance.
Every auto insurer has their own process for setting prices, so we need to take a look at the car insurance companies that tend to be cheaper in Riverside, CA. It’s important to understand that Riverside car insurance rates are influenced by many factors that can increase the price of coverage. Getting older, buying higher coverage limits, or having a fender bender can produce rate changes that can make some companies more affordable than others.
Cheap Insurance Rates for Age 60+
USAA quotes some of the cheapest car insurance rates in Riverside at around $1,143 each year. This is $508 less than the average policy premium paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide are also some of the more affordable Riverside, CA auto insurance companies.
As shown above, if you are insured with CSAA and switched to USAA, you could realize an annual premium reduction of around $79. Drivers with Nationwide may save as much as $107 a year, and 21st Century insureds might reduce rates by $236 a year.
Understand that those rates are averaged for all drivers and vehicles in California and do not take into consideration a specific zip code for drivers over age 60. So the company that can offer the best rates for your situation may not even be in the top 24 companies in the list above. That affirms the importance of why you need to get rate quotes from many companies using your own personalized driver profile and vehicle information.
The vehicle model you are insuring is a large consideration that determines whether or not you find the lowest-priced coverage for drivers over age 60. Vehicles with average performance, good safety features, or a low likelihood of having liability claims will cost much less to insure than adrenaline junky models.
The list below ranks insurance premiums for a selection of the cheaper vehicles to insure in California.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$949|
|Honda CR-V EX 4WD||$969|
|Honda Accord EX-L 4-Dr Sedan||$1,030|
|Dodge Grand Caravan SE||$1,064|
|Honda Civic DX 4-Dr Sedan||$1,104|
|Ford Edge Limited 2WD||$1,113|
|Chevrolet Impala LT||$1,124|
|Volkswagen Jetta LE 4-Dr Sedan||$1,130|
|Toyota RAV4 Limited 4WD||$1,124|
|Chevrolet Equinox LT 2WD||$1,129|
|Chevrolet Malibu LT||$1,145|
|Ford Explorer Limited 4WD||$1,152|
|Ford F-150 Lariat Super Cab 4WD||$1,145|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,155|
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Prices above based on single female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Estimates do not factor in vehicle garaging location which can lower or raise rates substantially.
Looking at the data, we can conclude that vehicles like the Ford Escape, Honda CR-V, and Honda Accord will be some of the cheaper vehicles to insure for older drivers.
Cost comparison with and without full coverage
Finding cheaper car insurance should be important to most drivers, and a great way to lower the cost of insurance for drivers over age 60 is to buy only liability coverage. The information below illustrates the comparison of insurance premiums with liability coverage only compared to full coverage. The prices are based on no claims, a clean driving record, $250 deductibles, marital status is single, and no policy discounts are applied.
Averaged for all ages 20 through 70, comprehensive and collision coverage on your policy costs an additional $2,314 per year more than insuring for liability only. Lot’s of drivers question if you should buy full coverage. There is no definitive rule of when to eliminate comp and collision coverage, but there is a general convention. If the annual cost of your full coverage insurance is more than 10% of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your vehicle’s book value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $5,000 after you pay the deductible. If premiums are more than $500 annually for full coverage, then it may be the right time to buy liability only.
Insuring your vehicle with a good quality insurance provider can be challenging considering how many companies there are in California. The rank data shown below can help you select which providers to look at when buying insurance for drivers over age 60.
These rankings include insurance companies that insure vehicles in the majority of U.S. states, so companies without a large exposure are not included in these rankings. To check rates and find the cheapest rates for drivers over age 60, follow this link.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|AAA of Southern California||91||94||97||92%||A+||94.1|
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Data Source: Insure.com Best Car Insurance Companies
The importance of shopping around
Riverside, CA car insurance rates are calculated based on many things which can substantially decrease or increase the cost of your policy. Simply getting older, moving across town, or getting a DUI can trigger changes in premium that can make some companies cheaper in comparison to the competition.
Not only may your risk profile change, but car insurance companies modify pricing as often as every quarter to help ensure profitability. Unexpectedly high claims may cause additional price hikes, while long-term profits can result in lower-cost Riverside car insurance rates.
As an example, the bar chart below shows the companies that have the cheapest car insurance in Riverside, CA for a 45-year-old male driver with no accidents, a clean driving record, and a good credit history. If we look at prices based on his current risk factors, USAA quotes the best car insurance rates in Riverside at $1,286 a year. This is $365 less than the average price paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide also make the list of the cheapest Riverside, CA auto insurance companies.
Let’s now give the driver from the first example an at-fault accident, a lower credit rating, and an imperfect driving record. Since each insurance company has a proprietary method to determine rates, comparing rates may result in a different list of affordable companies as shown below.
Grange now has the best car insurance rate in Riverside with Progressive, GEICO, Allied, and Allstate also having competitive pricing. This demonstrates why it is critical to compare many different companies to find cheap auto insurance rates for drivers over age 60. Prices consist of many risk factors and change substantially, so the cheapest rate the last time you checked may now be one of the more expensive options.