Are you sick and tired of wondering where the money will come from each month for auto insurance? You are in the same boat as the majority of other people in California.
Unbelievable but true according to a study a large majority of drivers have remained with the same auto insurance company for over three years, and nearly 40% of drivers have never shopped around. Consumers in California could cut their rates by $500 a year just by getting comparison quotes, but they don't believe the actual amount they would save if they switched to a more affordable policy. Due to the abundance of options, it can be challenging to find the lowest price company.
Buying more affordable car insurance coverage in Lynwood is easy if you know what you're doing. If you're already insured or need a new policy, follow these tips to find better prices and still have adequate protection. You just need to learn the proper way to compare price quotes online.
The quickest method to compare insurance rates in your area is to take advantage of the fact car insurance companies actually pay money for the chance to give rate comparisons. To start a quote, the only thing you need to do is give the companies some data including level of coverage desired, the type of vehicles you drive, whether you are married, and whether you drive to work or school. Your information gets transmitted to insurance companies and they return rate quotes very quickly.
To start a quote now, click here and enter your zip code.
The companies shown below provide price comparisons in Lynwood, CA. If you wish to find cheaper car insurance in California, it's a good idea that you visit two to three different companies to get the best price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Equinox LT 2WD||$1,172||$586||$98|
|Chevrolet Silverado LTZ Extended Cab 2WD||$1,672||$836||$139|
|Dodge Ram Quad Cab TRX4 Off Road 4WD||$1,548||$774||$129|
|Ford Escape XLS 4WD||$1,272||$636||$106|
|Ford F-150 FX2 2WD||$1,188||$594||$99|
|Ford Focus S 4-Dr Sedan||$1,528||$764||$127|
|GMC Sierra SLE Crew Cab 2WD||$1,450||$725||$121|
|Honda Accord LX-S 2-Dr Coupe||$1,632||$816||$136|
|Honda CR-V EX-L 4WD||$1,148||$574||$96|
|Honda Civic SI 2-Dr Coupe||$1,498||$749||$125|
|Honda Odyssey EX W/Rear Entertainment||$1,210||$605||$101|
|Nissan Altima 2.5 S 2-Dr Coupe||$1,528||$764||$127|
|Toyota Camry Hybrid||$1,334||$667||$111|
|Toyota Corolla LE||$1,388||$694||$116|
|Toyota RAV4 2WD||$1,332||$666||$111|
|Get Your Own Custom Quote Go|
Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Rates do not factor in specific location information which can lower or raise coverage prices considerably.
Liability-only rates compared to full coverage
The chart below illustrates the comparison of Toyota Corolla car insurance rates with full physical damage coverage compared to only buying liability only. The rates are based on no driving violations, no at-fault accidents, $1,000 deductibles, married female driver, and no other discounts are factored in.
Toyota Corolla rates are for example purposes only. To get rates for your specific vehicle, click here.
Are you wasting money paying for full coverage?
There is no exact rule for excluding comp and collision coverage, but there is a guideline you can consider. If the annual cost of coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let's assume your Toyota Corolla replacement value is $8,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $7,000 after the deductible is paid. If you are currently paying more than $700 a year for physical damage coverage, then it may be the right time to buy liability only.
There are some scenarios where buying only liability insurance is not in your best interest. If you still owe a portion of the original loan, you have to keep full coverage to protect the lienholder's interest. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.
Tickets and at-fault accidents raise rates
The information below shows how violations and at-fault accidents influence Honda Pilot annual premium costs for different age groups. The data is based on a married male driver, comp and collision included, $100 deductibles, and no discounts are applied.
Honda Pilot rates are for example purposes only. To get rates for your specific vehicle, click here.
Physical damage deductibles
The hardest decision when buying coverage is how high should the deductibles for physical damage be. The premium rates below highlight the rate differences of buying low and high comp and collision deductibles. The first set of rates uses a $100 deductible for comp and collision and the second pricing table uses a $500 deductible.
Ford Focus rates are for example purposes only. To get rates for your specific vehicle, click here.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Focus S 4-Dr Sedan||$332||$686||$442||$26||$132||$1,643||$137|
|Focus SE 4-Dr Sedan||$332||$686||$442||$26||$132||$1,643||$137|
|Focus SEL 4-Dr Sedan||$332||$810||$442||$26||$132||$1,767||$147|
|Focus SES 4-Dr Sedan||$332||$810||$442||$26||$132||$1,767||$147|
|Focus SE 2-Dr Coupe||$380||$810||$500||$30||$150||$1,895||$158|
|Focus SES 2-Dr Coupe||$380||$810||$500||$30||$150||$1,895||$158|
|Get a Quote for Your Vehicle Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Focus S 4-Dr Sedan||$242||$464||$442||$26||$132||$1,306||$109|
|Focus SE 4-Dr Sedan||$242||$464||$442||$26||$132||$1,306||$109|
|Focus SEL 4-Dr Sedan||$242||$546||$442||$26||$132||$1,388||$116|
|Focus SES 4-Dr Sedan||$242||$546||$442||$26||$132||$1,388||$116|
|Focus SE 2-Dr Coupe||$278||$546||$500||$30||$150||$1,504||$125|
|Focus SES 2-Dr Coupe||$278||$546||$500||$30||$150||$1,504||$125|
|Get a Quote for Your Vehicle Go|
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Premium costs do not factor in specific location information which can affect prices considerably.
Based on the above data, using a $100 deductible costs roughly $30 more each month or $360 a year than quoting the higher $500 deductible. Because you would pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you tend to have at a minimum 13 months between claim filings, you would probably come out ahead if you choose the higher deductible.
Calculate deductible break even point
|Average monthly premium for $100 deductibles:||$147|
|Average monthly premium for $500 deductibles (subtract):||- $117|
|Monthly savings from raising deductible:||$30|
|Difference between deductibles ($500 - $100):||$400|
|Divide difference by monthly savings:||$400 / $30|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||13 months|
One important note is that a higher deductible means you pay more out-of-pocket when you have a physical damage claim. You need to have some money saved in the event you need to pay the deductible for vehicle repair.
Car insurance does more than just protect your car
Despite the high cost, paying for car insurance is most likely required but also gives you several important benefits.
- Just about all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry specific minimum amounts of liability insurance coverage in order to license the vehicle. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
- If you bought your vehicle with a loan, most banks will require that you have comprehensive coverage to ensure loan repayment if the vehicle is totalled. If you do not pay your insurance premiums, the bank may buy a policy for your vehicle for a much higher rate and require you to pay much more than you were paying before.
- Car insurance protects both your car and your assets. Insurance will also pay for medical expenses for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, comprehensive and collision coverage will pay to repair the damage.
The benefits of having insurance more than cancel out the cost, especially if you ever need it. Today the average American driver is wasting up to $865 each year so compare quotes from several companies at every renewal to help ensure money is not being wasted.
Lower Lynwood auto insurance rates
Lots of things are used when pricing auto insurance. Some are pretty understandable like an MVR report, although some other factors are less apparent such as whether you are married or your financial responsibility. It's important that you understand the rating factors that are used to determine the level of your policy premiums. If you have some idea of what determines base rates, this allows you to make good choices that can help you get big savings.
Shown below are a partial list of the pieces companies use to determine your rates.
Low coverage deductibles cost more - Comprehensive and collision coverage deductibles tell how much you are required to spend before your auto insurance pays a claim. Insurance for physical damage to your car, also called comprehensive and collision insurance, protects your car from damage. Examples of covered claims could be colliding with a stationary object, vandalism, and having a roll-over accident. The higher the amount you choose to pay out-of-pocket, the lower your rates will be.
Liability insurance is critical - A critical coverage on your policy, liability insurance will provide protection when you are found liable for causing damage or personal injury in an accident. Your policy's liability insurance provides for a legal defense which can be incredibly expensive. This coverage is very inexpensive when compared to the cost of physical damage coverage, so drivers should buy more than the minimum limits required by law.
More performance means higher prices - The performance level of the car you are buying insurance for makes a significant difference in how high your rates are. The most favorable rates are usually found on lower cost passenger vehicles, but other factors influence the final cost greatly.
Safety first - Vehicles with good safety scores can get you lower premiums. These vehicles protect occupants better and fewer injuries translates directly to fewer claims passed on to you as lower rates. If your vehicle has ratings of a minimum four stars on Safercar.gov you may qualify for a discount.
Policy add-ons could be costing you - There are many additional coverages you can purchase if you aren't careful. Things like coverage for rental cars, better glass coverage, and extra life insurance coverage are probably not needed. These coverages may sound good at first, but your needs may have changed so get rid of them and save.
Job can influence rates - Occupations such as judges, police officers, and financial analysts tend to have the highest rates because of job stress and incredibly demanding work hours. Conversely, careers such as farmers, athletes and performers get better rates.
Never have policy lapses - Driving without insurance coverage in place is a big no-no and any future policy may cost more because you let your insurance lapse. And not only will your rates increase, the inability to provide proof of insurance could result in a fine, jail time, or a revoked license.
Your location is important - Living in less populated areas of the country is a good thing when it comes to auto insurance. People in densely populated areas have more auto accidents and a longer drive to work. Fewer drivers and short commutes means fewer accidents and lower theft and vandalism rates.
Affordable rates on insurance with these discounts
Insurance is not an enjoyable expense, but discounts can save money and there are some available that may help make it more affordable. Some trigger automatically at quote time, but less common discounts must be specially asked for before being credited.
- Senior Citizen Rates - Mature drivers may receive reduced rates.
- New Car Discount - Insuring a new car can get you a discount since new vehicles are generally safer.
- Accident Waiver - This isn't a discount exactly, but companies like State Farm and Progressive permit an accident without raising rates so long as you are claim-free for a set time period.
- Multi-car Discount - Insuring multiple vehicles on the same insurance policy can reduce the rates for all insured vehicles.
- Data Collection Discounts - People who choose to allow their insurance company to analyze where and when they drive by using a telematics device in their vehicle like Allstate's Drivewise could see a rate decrease if they are good drivers.
- Anti-lock Brakes - Vehicles with anti-lock braking systems have fewer accidents so you can save 10 percent or more.
- Multi-line Discount - Not all insurance companies offer life insurance, but some may give you lower rates if you buy life insurance from them.
As a footnote on discounts, some credits don't apply to the entire policy premium. The majority will only reduce the price of certain insurance coverages like comp or med pay. So even though you would think all the discounts add up to a free policy, insurance companies wouldn't stay in business.
Some of the insurance companies that may have these discounts are:
When getting free Lynwood car insurance quotes, it's a good idea to each insurance company how you can save money. Depending on the company, some discounts may not be offered everywhere. If you would like to choose from a list of insurance companies with the best discounts in California, click this link.
What if I want to buy from local Lynwood insurance agents?
Some consumers still prefer to sit down with an agent and there is nothing wrong with that. Professional insurance agents can help you choose the best coverages and help file insurance claims. A nice benefit of comparing car insurance online is you may find lower rates but also keep your business local. Buying from local agencies is especially important in Lynwood.
After completing this quick form, your insurance data gets sent to companies in Lynwood who can give free rate quotes for your coverage. It's much easier because you don't need to contact any insurance agencies because prices are sent to you directly. If you wish to get a price quote from a specific car insurance provider, feel free to jump over to their website and complete a quote there.
Best auto insurance agent in Lynwood
If you are searching for a local Lynwood insurance agent, it's helpful to know the types of insurance agents and how they are distinctly different. Agencies in Lynwood are classified as either exclusive agents or independent agents. Both can write car insurance policies, but we need to point out the difference between them since it can affect your selection of an agent.
These agents are not required to write business for one company so they can quote policies through many companies and potentially find a lower price. To transfer your coverage to a different company, the agent simply finds a different carrier which is easy for the insured. If you are trying to find cheaper rates, we recommend you include price quotes from a couple of independent agencies to ensure the widest selection of prices.
Agents of this type are contracted to one company and some examples include State Farm, AAA, Farmers Insurance or Allstate. They usually cannot provide rate quotes from other companies so they are skilled at selling on more than just price. Exclusive insurance agents are well trained on their products and sales techniques and that can be a competitive advantage.
Selecting an insurance agency is decision based upon more than just the price. Agents should be asked these questions:
- If your car is in the repair shop, do you have coverage for a rental car?
- Do they specialize in personal lines auto insurance in Lynwood?
- Can you use your own choice of collision repair facility?
- Do they have cheaper tiers of coverage?
- Is there any savings for paying the full premium?
- Is the agent properly licensed in California?
- Who is covered by the car insurance policy?
- Is assistance available after office hours?
Upon receiving reasonable responses to any questions you have as well as offering an affordable quote, you've probably found an insurance agency that is professional and can adequately provide car insurance. But keep in mind you are able to cancel coverage at any time so don't feel you are locked into a policy with no way out.
Find affordable insurance rates by comparing often
We just presented many tips how you can shop for insurance online. The most important thing to understand is the more price quotes you have, the better your comparison will be. You may even be surprised to find that the lowest priced insurance comes from a smaller regional carrier. These smaller insurers can often provide lower prices in certain areas compared to the large companies like GEICO and State Farm.
Some insurance companies don't offer the ability to get quotes online and these small, regional companies sell through independent insurance agents. Cheap insurance in Lynwood can be bought on the web as well as from independent agents in Lynwood, and you need to price shop both to have the best selection.
When buying insurance coverage, it's not a good idea to sacrifice coverage to reduce premiums. In many instances, an accident victim reduced liability limits or collision coverage and discovered at claim time that a couple dollars of savings turned into a financial nightmare. Your objective should be to buy the best coverage you can find at the best cost, but do not skimp to save money.
Even more information is available in these articles:
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
- Who Has the Cheapest Auto Insurance for College Students in California? (FAQ)
- What is the Best Car Insurance in Santa Ana, California? (FAQ)
- Who Has Affordable Car Insurance Rates for High Risk Drivers in California? (FAQ)
- Young Drivers: The High Risk Years Video (iihs.org)
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)
- Choosing a Car for Your Teen (State Farm)
- Older Drivers FAQ (iihs.org)