The words “low-priced” and “insurance” probably shouldn’t be used in the same sentence, in particular when you are trying to find the lowest insurance rates for low credit scores. To help control this cost, let’s introduce you to some situations that have a considerable impact on car insurance prices, and find some ways to reduce the cost of your next policy.
For bad credit, one of the largest components that are used to help calculate car insurance rates is the neighborhood you call home. Areas with more people or higher crime rates are more likely to pay higher prices, whereas more rural areas can boast about having cheaper rates.
The next table ranks the most expensive cities in California for low credit scores to buy an auto insurance policy in. Oakland is ranked at #4 with a yearly cost of $1,738 on average, which is approximately $145 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Los Angeles | $2,104 |
| 2 | Glendale | $2,058 |
| 3 | San Francisco | $1,745 |
| 4 | Oakland | $1,738 |
| 5 | Sacramento | $1,669 |
| 6 | San Bernardino | $1,596 |
| 7 | Long Beach | $1,578 |
| 8 | Stockton | $1,556 |
| 9 | Garden Grove | $1,554 |
| 10 | Fontana | $1,535 |
| 11 | Santa Clarita | $1,533 |
| 12 | Fresno | $1,502 |
| 13 | Moreno Valley | $1,491 |
| 14 | Anaheim | $1,488 |
| 15 | Modesto | $1,487 |
| 16 | Santa Ana | $1,483 |
| 17 | Riverside | $1,482 |
| 18 | Huntington Beach | $1,416 |
| 19 | Fremont | $1,389 |
| 20 | San Jose | $1,381 |
| Find Cheaper Insurance Go | ||
Prices are comparative as the vehicle garaging location can affect rates considerably.
Finding out which companies offer the cheapest auto insurance rates for low credit scores will take a little more sweat than just picking a company at random. Each insurance company has a proprietary method for determining rates in each state, so we’ll take a look at the auto insurance companies with the overall best prices in Oakland, CA.
Find the Best Cheap Insurance in California
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,121 |
| 2 | Wawanesa | $1,157 |
| 3 | CSAA | $1,186 |
| 4 | Nationwide | $1,213 |
| 5 | Century National | $1,226 |
| 6 | 21st Century | $1,366 |
| 7 | Grange | $1,433 |
| 8 | Mercury | $1,488 |
| 9 | Allstate | $1,513 |
| 10 | Progressive | $1,542 |
| 11 | The Hartford | $1,575 |
| 12 | GEICO | $1,575 |
| 13 | Allied | $1,588 |
| 14 | MetLife | $1,606 |
| 15 | Esurance | $1,688 |
| 16 | Unitrin | $1,733 |
| 17 | State Farm | $1,733 |
| 18 | Bristol West | $1,777 |
| 19 | Travelers | $1,788 |
| 20 | Farmers | $1,966 |
| Get Personalized Rates Go | ||
USAA may have some of the most affordable car insurance rates in Oakland at around $1,121 a year. Wawanesa, CSAA, Nationwide, and Century National are also some of the cheapest Oakland, CA auto insurance companies.
As depicted above, if you currently buy coverage from Century National and switched to Wawanesa, you could earn a yearly savings of roughly $69. Insureds with 21st Century might save as much as $209 a year, and Grange policyholders might reduce rates by $276 a year.
To find out how much you can save, click here to start a quote or visit any of the low-priced companies below.
These estimates are averaged across all types of drivers and the different vehicles they drive and and are not calculated with a vehicle location for low credit scores. So the car insurance company that is best for you may not even be in the top 24 companies shown above. That illustrates why you need to compare prices as often as possible using your own specific driver information and vehicle.
Full coverage or liability only
Reducing premiums for auto insurance is probably important to most drivers, and one good way to reduce the cost of insurance for low credit scores is to not insure for full coverage. The example below shows the difference between auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The prices are based on no claims or driving citations, $500 deductibles, drivers are not married, and no discounts are applied to the premium.
If averaged out across all ages, full coverage costs an additional $2,075 per year over and above liability only. A very common question is if you should buy full coverage. There is no set rule to exclude comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost of full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.
There are some conditions where buying only liability insurance is not recommended. If you still have a lienholder on your title, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.
The illustration below illustrates how choosing a deductible can change annual premium costs when getting quotes for cheap insurance for low credit scores. The information is based on a married male driver, full physical damage coverage, and no discounts are applied.
As shown above, a 50-year-old driver could lower their car insurance rates by $370 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $556 by switching to a $1,000 deductible. Youthful drivers, like the 20-year-old example, could reduce their rates up to $1,230 or more by selecting a higher deductible. When choosing a higher deductible, it is necessary to have plenty of money set aside to enable you to pay the extra out-of-pocket expense that comes with higher deductibles.
The professional agents shown below can provide answers to your questions and help you determine which coverages and limits you need, since lots of drivers aren’t clear which coverage they need and would like to get some guidance when trying to find the best insurance rates for low credit scores. It can be challenging to find the best policy yourself, and professional agents can bring satisfaction knowing you have adequate coverage if you have an accident or claim. To find an Oakland insurance agency nearest to you, click the button at the bottom of the list.
- Farmers Insurance – Lorraine Yip Yung
1168 Franklin St – Oakland, CA 94607 – (510) 832-5113 - Greater Metrowest Insurance Agency
Oakland, CA 94612 – Oakland, CA 94612 – (510) 444-1404 - Allstate Insurance: Francis H. Lan
900 Alice St Ste 128 – Oakland, CA 94607 – (510) 835-8581 - Allstate Insurance: Liz Drennan
4170 Piedmont Ave c – Oakland, CA 94611 – (510) 594-2090
View more Oakland, CA insurance agents
How to find the cheapest auto insurance for low credit scores
Below you’ll find some of the recommended money-saving ideas that can help Oakland drivers get cheap car insurance.
- Buy vehicles with five-star safety ratings
- Increase your credit rating
- Do not get tickets
- Remove physical damage coverage on older vehicles
- Prevent price hikes by avoiding at-fault accidents
- Increase your policy deductibles
- Comparison shop at least every other year
That last tip is very crucial, as we stressed in the prior information. Prices can change considerably based on profitability, so don’t be afraid to change insurance companies if a better deal can be had. Staying with the same company for years is fine, but it’s not a great idea if that loyalty ends up costing a lot of money. It only takes a couple minutes to compare rates to find cheaper auto insurance for low credit scores in Oakland.