Trying to come up with a payment for overpriced insurance can dwindle your bank account and force you to prioritize other expenses.

Amazingly, a recent NerdWallet.com study showed that nearly 70% of consumers have been with the same company for a minimum of four years, and approximately 40% of consumers have never compared rate quotes at all. California consumers could save up to $470 a year, but they don't want to spend time to find cheap rates by getting comparison quotes.

Many insurance companies vie for your business, so it's not easy to compare every insurer and get the definite best price available on insurance.

If you currently have a car insurance policy, you stand a good chance to be able to reduce the price you pay using this information. Locating the most cost-effective car insurance policy in Monterey is much easier if you have a good place to start. Although California drivers do need to understand how companies calculate your car insurance rates and take advantage of how the system works.

Car insurance providers offering affordable price quotes in California

The following companies provide free quotes in Monterey, CA. If your goal is to find cheap auto insurance in California, we suggest you visit as many as you can in order to find the cheapest rates.

Insurance Rates for Popular Vehicles in Monterey
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Colorado LT 2WD $1,508 $754 $126
Chevrolet Equinox LS AWD $1,488 $744 $124
Chevrolet Silverado Crew Cab Hybrid 4WD $1,810 $905 $151
Dodge Grand Caravan Hero $1,296 $648 $108
Dodge Ram Quad Cab ST 4WD $1,470 $735 $123
Ford Edge Limited 2WD $1,526 $763 $127
Ford Escape XLS 2WD $1,028 $514 $86
Ford F-150 XL Super Cab 4WD $1,414 $707 $118
Ford Focus SE 2-Dr Coupe $1,956 $978 $163
Ford Fusion SEL 4-Dr Sedan $1,436 $718 $120
Honda Accord LX-P 4-Dr Sedan $1,160 $580 $97
Honda CR-V EX-L 4WD $1,326 $663 $111
Honda Civic DX 2-Dr Coupe $1,666 $833 $139
Honda Odyssey EX-L $1,568 $784 $131
Jeep Grand Cherokee Laredo 4WD $1,758 $879 $147
Kia Optima SX $1,340 $670 $112
Nissan Altima 3.5 SR 2-Dr Coupe $1,808 $904 $151
Toyota Camry LE $1,342 $671 $112
Toyota Corolla XRS $1,916 $958 $160
Volkswagen Jetta LE 4-Dr Sedan $1,532 $766 $128
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Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Price information does not factor in specific location which can lower or raise insurance rates considerably.

Physical damage deductibles

One frequently asked question is which deductible level should you buy. The figures shown below can help show the cost difference when you choose different insurance deductibles. The first set of prices uses a $100 comprehensive and collision deductible and the second price grid uses a $1,000 deductible.

Nissan Sentra rates are for example purposes only. To get rates for your specific vehicle, click here.

Nissan Sentra insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sentra 2 $332 $686 $442 $26 $132 $1,643 $137
Sentra 2.0 S $332 $810 $442 $26 $132 $1,767 $147
Sentra 2.0 SR $332 $810 $442 $26 $132 $1,767 $147
Sentra 2.0 SL $380 $810 $442 $26 $132 $1,815 $151
Sentra SE-R $380 $810 $442 $26 $132 $1,815 $151
Sentra SE-R SPEC V $380 $932 $442 $26 $132 $1,937 $161
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Nissan Sentra insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sentra 2 $184 $362 $442 $26 $132 $1,146 $96
Sentra 2.0 S $184 $426 $442 $26 $132 $1,210 $101
Sentra 2.0 SR $184 $426 $442 $26 $132 $1,210 $101
Sentra 2.0 SL $210 $426 $442 $26 $132 $1,236 $103
Sentra SE-R $210 $426 $442 $26 $132 $1,236 $103
Sentra SE-R SPEC V $210 $490 $442 $26 $132 $1,300 $108
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Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Estimates do not factor in garaging location in Monterey which can affect insurance rates significantly.

Based on these figures, using a $100 deductible costs roughly $47 more each month or $564 for a full year than quoting the higher $1,000 deductible. Since you would have to pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you usually have at least 19 months between claim filings, you would more than likely save some money if you choose a higher deductible.

How to calculate when to raise deductibles

Average monthly premium for $100 deductibles: $149
Average monthly premium for $1,000 deductibles (subtract): - $102
Monthly savings from raising deductible: $47
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $47
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 19 months

One important note is that raising deductibles to save money means you will have to cover more of the damage yourself when you file a claim. That will necessitate enough money put aside in order to pay the deductible to have repairs made.

Cautious drivers save money

The information below shows how speeding tickets and accidents can affect Toyota Camry annual premium costs for each age group. Data assumes a single male driver, full coverage, $100 deductibles, and no discounts are factored in.

Toyota Camry rates are for example purposes only. To get rates for your specific vehicle, click here.

Should you buy full coverage?

The example below illustrates the difference between Chevrolet Malibu yearly insurance costs with full coverage and liability only. Data assumes no accidents or driving violations, $500 deductibles, married male driver, and no discounts are factored in.

Chevrolet Malibu rates are for example purposes only. To get rates for your specific vehicle, click here.

When to drop comp and collision

There is no exact rule that works best for making the decision to drop comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.

For example, let's say your Chevrolet Malibu claim settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after the deductible is paid. If you are paying over $400 a year for physical damage coverage, then it's probably a good time to buy liability coverage only.

There are some circumstances where only buying liability is not financially feasible. If you still owe money on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.

Cheaper rates with these six discounts on auto insurance

Some insurers don't always list every disount available in a way that's easy to find, so the following list contains a few of the more well known and also the lesser-known ways to save on auto insurance.Cheaper auto insurance with discounts

Consumers should know that some credits don't apply to the entire policy premium. A few only apply to the cost of specific coverages such as collision or personal injury protection. Even though it may seem like having all the discounts means you get insurance for free, you aren't that lucky.

To choose companies with the best auto insurance discounts in Monterey in California, follow this link.

Comparing prices from local Monterey insurance agents

A small number of people would rather sit down and talk to an agent and doing that can be a smart decision A nice benefit of comparing auto insurance online is the fact that you can find better rates and also buy local. Supporting local insurance agents is definitely important in Monterey.

Insurance agents in MontereyTo help locate an agent, after submitting this quick form, the quote information gets sent to local insurance agents in Monterey who will give competitive quotes for your business. You don't have to search for an agent because prices are sent to you instantly. You can find the lowest rates without a big time investment. If you wish to compare rates from a specific auto insurance provider, don't hesitate to find their quoting web page and fill out the quote form the provide.

If you need to find a local agent, you need to know there are two different agency structures and how they work. Insurance agencies in Monterey can be categorized as either independent or exclusive.

Independent Insurance Agents

Independent insurance agents do not sell for just one brand and that gives them the ability to insure amongst many companies and get you the best rates possible. If you are not satisfied with one company, your agent can switch companies without you having to go to a different agency.

When searching for an agent, we highly recommend that you get quotes from several independent insurance agents for the best price selection.

Exclusive Insurance Agents

These agents normally can only provide a single company's rates like State Farm, Allstate and AAA. Exclusive agents cannot shop your coverage around so you might not find the best rates. Exclusive agents are well schooled in insurance sales which can be an advantage.

Choosing a car insurance agent should depend on more than just the premium amount. These are some questions your agent should answer.

After receiving good responses to all your questions and an affordable coverage quote, you have narrowed it down to an auto insurance agent that can be relied on to adequately provide auto insurance.

Information about specific coverages

Knowing the specifics of a auto insurance policy can be of help when determining which coverages you need for your vehicles. The coverage terms in a policy can be confusing and nobody wants to actually read their policy. Below you'll find the normal coverages found on most auto insurance policies.

Uninsured Motorist or Underinsured Motorist insurance

This coverage protects you and your vehicle's occupants from other motorists when they are uninsured or don't have enough coverage. This coverage pays for injuries to you and your family and damage to your vehicle.

Because many people have only the minimum liability required by law (15/30/5 in California), their limits can quickly be used up. So UM/UIM coverage is very important. Normally these coverages are set the same as your liability limits.

Liability coverages

Liability coverage protects you from damage or injury you incur to people or other property in an accident. This coverage protects you from legal claims by others, and doesn't cover damage to your own property or vehicle.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 15/30/5 which stand for a $15,000 limit per person for injuries, a limit of $30,000 in injury protection per accident, and $5,000 of coverage for damaged propery. Alternatively, you may have one limit called combined single limit (CSL) which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage pays for claims like legal defense fees, pain and suffering, repair bills for other people's vehicles, funeral expenses and structural damage. How much liability should you purchase? That is up to you, but you should buy as much as you can afford. California requires minimum liability limits of 15/30/5 but it's recommended drivers buy higher limits.

Insurance for medical payments

Med pay and PIP coverage kick in for bills for things like dental work, surgery and pain medications. They can be used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover both the driver and occupants as well as getting struck while a pedestrian. Personal injury protection coverage is only offered in select states and may carry a deductible

Coverage for collisions

Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things such as crashing into a building, driving through your garage door, sideswiping another vehicle, sustaining damage from a pot hole and hitting a mailbox. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. You can also increase the deductible to bring the cost down.

Comprehensive coverage (or Other than Collision)

This coverage covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things such as falling objects, hail damage, a tree branch falling on your vehicle and damage from a tornado or hurricane. The maximum payout your auto insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle's value it's not worth carrying full coverage.

Auto insurance claims by make and model

Is your vehicle a claim risk? The statistics tables below list the best and worst models for the probability of having large claims.

Lowest and Highest Auto Insurance Liability Claims by Vehicle Model
Lowest Claims Highest Claims
Mercedes-Benz SL Class Chevrolet Sonic
Subaru Forester Kia Optima
Fiat 500 Chevrolet Impala
Chevrolet Corvette Kia Rio
Volvo XC60 Mitsubishi Mirage
Acura MDX Dodge Charger

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Medical Payment Insurance Claims by Vehicle Make and Model
Lowest Claims Highest Claims
Audi A4 Allroad Hyundai Accent
Tesla Model S Chevrolet Sonic
Land Rover Range Rover Sport Nissan Versa
Chevrolet Corvette Nissan Sentra
Chevrolet Silverado 2500 Chevrolet Spark
Ford Expedition Mitsubishi Lancer

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Vehicle Models with the Lowest and Highest Collision Insurance Claims
Lowest Claims Highest Claims
Ford F-150 SuperCrew Nissan GT-R
GMC Canyon BMW 6 Series
Nissan Xterra BMW M6
Ford Edge Maserati Ghibli
Mini Cooper Bentley Continental Flying Spur
Jeep Wrangler Bently Continental GTC

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Lowest and Highest Comprehensive Insurance Claims by Vehicle
Lowest Claims Highest Claims
Chevy Spark BMW M6
Ford F-350 Mercedes-Benz S Class
Infiniti QX50 BMW M6
Smart ForTwo Maserati Quattroporte
Nissan Xterra Maserati Granturismo
Nissan Leaf Audi S7

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Frequent quotes can save

When searching for inexpensive Monterey auto insurance quotes, do not skimp on coverage in order to save money. Too many times, an insured dropped comprehensive coverage or liability limits only to regret at claim time that the savings was not a smart move. Your goal should be to purchase a proper amount of coverage at the best possible price while still protecting your assets.

More affordable car insurance in Monterey can be found on the web as well as from independent agents in Monterey, and you should compare rates from both to have the best chance of lowering rates. Some insurance companies may not provide rates over the internet and usually these regional insurance providers only sell coverage through independent insurance agencies.

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