You have surely seen all the captivating commercials from companies like Progressive, Nationwide, and State Farm that promise dirt cheap rates. So drivers just need to pick the company with the catchiest ad, right?
Regrettably, it’s not quite that easy, as there are a whole slew of unknown factors like your credit rating, if you are a man or woman, if you need full coverage or just liability, and how old you are, that all factor into the price you pay. We will attempt to cover the best ways to shop for cheaper coverage and will hopefully give you a good start to your coverage search.
For high risk drivers, one of the more important criteria that are used to help calculate the annual cost of car insurance is where your residence is. Cities with more crime and/or more people likely pay more, whereas areas that tend to be more rural have the benefit of cheaper auto insurance prices.
The table below shows the most expensive cities in California for high risk drivers to buy auto insurance in. Oakland is ranked #4 with an annual cost of $1,687 for the average insurance policy, which is around $141 each month.
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Table data uses approximated as vehicle location can modify coverage prices substantially.
The car, truck, or SUV you are trying to insure is probably the largest consideration when consumers are trying to find cheaper auto insurance for high risk drivers. Vehicles with reasonable performance levels, excellent safety ratings, or a positive history of liability claims will cost much less to insure than higher performance models. The information below features auto insurance rates for a handful of the cheaper vehicles to buy coverage for.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$5,363|
|Honda Accord LX 4-Dr Sedan||$5,368|
|Honda CR-V EX 2WD||$5,363|
|Ford F-150 XLT Regular Cab 2WD||$5,601|
|Jeep Wrangler Sport 4WD 2-Dr||$5,703|
|Dodge Grand Caravan SXT||$5,981|
|Ford Focus SES 4-Dr Sedan||$6,134|
|Toyota RAV4 Sport 2WD||$6,203|
|Chevrolet Malibu LS||$6,213|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$6,246|
|Ford Explorer Limited 2WD||$6,262|
|Chevrolet Equinox LS AWD||$6,353|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$6,420|
|Hyundai Sonata GLS 4-Dr Sedan||$6,442|
|Toyota Corolla S||$6,487|
|Honda Odyssey EX-L W/Rear Entertainment||$6,496|
|Ford Edge Sport 2WD||$6,487|
|Toyota Camry XLE||$6,496|
|GMC Sierra 2500HD SLT Crew Cab 4WD||$6,514|
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Prices based on single female driver age 40, two speeding tickets, two at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-vehicle, and multi-policy. Premium costs do not factor in vehicle garaging location which can increase or decrease coverage prices noticeably.
Looking at the rates, we can assume that models like the Ford Escape, Honda Accord, Honda CR-V, and Ford F-150 should be a few of the cheapest vehicles to insure for high risk drivers. Car insurance rates will be higher anyway just because there is more liability risk for high risk drivers, but generally speaking those makes and models will tend to have the least expensive rates that you’ll find.
Buying coverage from a high-quality company is difficult considering how many different companies there are to choose from in California. The company rank data in the lists below could help you choose which insurers to look at shopping prices with. The ratings below are only made up of the largest companies in America, so companies with more of a regional focus are not included in these rankings.
Top 10 Major Car Insurance Companies in Oakland Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA of Southern California – 92%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- The Hartford – 89%
- GEICO – 89%
- The General – 88%
- 21st Century – 88%
The illustration below illustrates how your deductible choice can affect yearly insurance costs when getting quotes for cheap insurance for high risk drivers. Data assumes a single male driver, full physical damage coverage, and no policy discounts are applied.
As shown above, a 40-year-old driver could save $492 a year by increasing from a $100 deductible to a $500 deductible, or save $738 by selecting a $1,000 deductible. Young drivers, like the 20-year-old category, could save up to $1,640 every year by selecting a higher deductible. When using a larger deductible, it’s a good idea to have enough savings to pay the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
How much more does full coverage cost?
Paying less for car insurance should be important to the majority of vehicle owners, and one good way to lower the cost of insurance for high risk drivers is to only buy liability insurance. The example below compares insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in California. The price estimates are based on a clean driving record, no claims, $1,000 deductibles, single marital status, and no policy discounts are applied.
On average, physical damage coverage costs $1,849 per year over and above liability coverage. That is a big expense that brings up the question when is it safe to stop buying full coverage. There is no set rule to exclude physical damage coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
There are some situations where eliminating full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage in place.
Ideas for buying the cheapest insurance for high risk drivers
It is possible to find better rates, and here are some of the recommended penny-pinching ideas that can help drivers find lower-cost coverage.
- Prevent price hikes by avoiding at-fault accidents
- Buy a vehicle with excellent safety ratings
- Drivers with good credit ratings often pay less
- Do not pay for comprehensive and collision coverage on older vehicles
- Buying home and auto insurance together can earn discounts
- Compare rates often to find the best deal
That last piece of advice is highly significant, as was noted in the article above. Prices charged by auto insurers fluctuate constantly, so drivers shouldn’t be resistant to buy from a different company if a better rate can be found.
Staying with the same car insurance company is fine, but is isn’t recommended if that faithfulness ends up costing you hundreds of dollars year after year. Take a few minutes and compare prices and find cheaper insurance for high risk drivers in Oakland.
The insurance agents in Oakland listed below can aid you in deciding which auto insurance policy would work best for you, since some drivers have questions and prefer to have some advice when comparing insurance rates for high risk drivers. It can be hard to find the cheapest rates, so getting professional guidance from a licensed agent can bring peace of mind knowing your coverage gives you adequate coverage if you have an accident or claim.
To locate an agency close to you, click the link at the bottom.
Judy Chambers – State Farm Insurance Agent
1305 Franklin St #400 – Oakland, CA 94612 – (510) 832-2195
Farmers Insurance: Man Kin Lau
638 Webster St #200a – Oakland, CA 94607 – (510) 282-7996
Allstate Insurance: Liz Drennan
4170 Piedmont Ave c – Oakland, CA 94611 – (510) 594-2090
Frank Sanchez – State Farm Agent
5301 Claremont Ave – Oakland, CA 94618 – (510) 658-2722
Jessica Hebert – State Farm Insurance Agent
490 Grand Ave #210 – Oakland, CA 94610 – (510) 653-2900