It’s impossible to miss the catchy advertisements from companies like Progressive and Nationwide guaranteeing the cheapest price. So you just need to pick the one with the best commercial, right?
Regrettably, it’s not quite that easy, as there are a whole slew of unknown factors such as if you are a man or woman, how old you are, and the amount of liability coverage you want. The information below will cover the things that cause high insurance rates and should give you a jump start in finding the best auto insurance.
For college grads, one of the more important considerations that help determine the annual cost of car insurance is your zip code. Areas with a lot of weather claims or more people will most likely have higher rates, whereas areas with less crime or weather claims benefit from lower prices.
The next table lists the priciest cities in California for college graduates to purchase auto insurance in. Long Beach is ranked at #6 with an annual rate of $1,610 for the average policyholder, which is approximately $134 each month.
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Price information shown is approximated as the specific garaging location can impact price quotes considerably.
The type of vehicle that is being insured is a large factor in finding the best cheap coverage for college graduates. Vehicles with average performance, a great safety record, or a low likelihood of having liability claims will cost less to insure than adrenaline junky models. The next table showcases car insurance rates for a handful of the most cost-effective vehicles to insure in California.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$1,113|
|Ford Escape XLT 4WD||$1,137|
|Toyota Corolla LE||$1,384|
|Hyundai Elantra SE 4-Dr Sedan||$1,391|
|Chevrolet Impala LTZ||$1,384|
|Honda Odyssey LX||$1,401|
|GMC Sierra SLE Crew Cab 4WD||$1,410|
|Toyota Tacoma 4WD||$1,430|
|Dodge Ram Crew Cab ST 4WD||$1,437|
|Honda Accord LX-S 2-Dr Coupe||$1,477|
|Ford Focus SE 2-Dr Coupe||$1,487|
|Ford Edge SEL 2WD||$1,480|
|Ford Fusion SEL AWD 4-Dr Sedan||$1,504|
|Toyota RAV4 Sport 2WD||$1,509|
|Chevrolet Malibu Hybrid||$1,515|
|Ford Explorer XLT AWD||$1,530|
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Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Estimates do not factor in Long Beach, CA location which can impact rates greatly.
Looking at the rates, cars like the Honda CR-V, Ford Escape, Toyota Corolla, Hyundai Elantra, and Chevrolet Impala are most likely going to be some of the most economical vehicles to insure for college grads.
Comparing quotes for cheap car insurance is hard enough, and figuring out which companies quote the most affordable auto insurance rates for college graduates will take additional perseverance. Every car insurance company uses a little different formula for setting rates, so first we will examine the auto insurance companies with the overall cheapest rates in Long Beach.
It’s important to understand that California auto insurance rates are calculated based on many things that may substantially change the cost of coverage. Improving your financial situation, having a teenage driver, or getting a couple of tickets may prompt premium changes resulting in some rates now being more affordable than competitors.
Best Car Insurance Prices for Grads
|Rank||Company||Cost Per Year|
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USAA has some of the lowest car insurance rates in Long Beach at around $1,121 each year. Wawanesa, CSAA, Century National, and Nationwide also are some of the best Long Beach, CA insurance companies.
As depicted above, if you have coverage with Wawanesa and switched to USAA, you could realize savings of in the neighborhood of $36. Insureds with CSAA might save as much as $101 a year, and Century National policyholders might lower prices by up to $105 a year.
To see if your current coverage is too expensive, click here to get a free quote or visit any of the low-priced companies below.
Understand that those premiums are averaged for all insureds and vehicles and do not factor in an exact vehicle garaging location for college graduates. So the insurer that can offer you the lowest price may not even be in the list above. That points out the importance of why you need to quote rates from many companies using your own specific driver information and vehicle.
Picking the right insurer can be challenging considering how many companies provide coverage in Long Beach. The company rank data shown below may help you choose which coverage providers you want to consider when looking for cheaper rates. The rankings below are only comprised of large, nationwide insurance companies, so companies without a large exposure are not factored into the list.
|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 information below illustrates how your choice of deductibles can increase or decrease insurance premiums when trying to find cheap insurance for college graduates. The rate quotes are based on a married male driver, full coverage, and no discounts are taken into consideration.
The chart above illustrates that a 50-year-old driver could save $416 a year by switching from a $100 deductible up to a $500 deductible, or save $626 by changing to a $1,000 deductible. Younger drivers, like the Age 20 chart data, could reduce their rates as much as $1,398 every year by choosing a higher deductible.
When choosing a higher deductible, it’s a good idea to have enough spare savings to cover the extra out-of-pocket expense that is associated with using high deductibles.
Here’s why price comparisons are so important
Long Beach auto insurance rates are influenced by many factors that may substantially change the cost of coverage. Improving your credit rating, filing a claim, or getting a ticket for careless driving may cause policy rate changes resulting in some rates now being cheaper than before. Not only may your situation change, but companies change prices every year to help ensure profitability. Higher than normal claim frequency or severity may result in increased rates, while lower claims may produce cheaper Long Beach car insurance rates.
To help illustrate this point, the chart below shows which companies have the cheapest car insurance in Long Beach, CA for a 30-year-old female driver with no accidents, a clean driving record, and a high credit rating. If we estimate prices based on her current risk factors, USAA may have the cheapest car insurance rates in Long Beach at $1,328 annually. This is $323 less than the average price paid by California drivers of $1,651. Wawanesa, CSAA, Century National, and Nationwide are also on the list of the best Long Beach, CA auto insurance companies.
In this next rate comparison, we will give the driver in the first example a chargeable accident, a lower credit rating, and a few blemishes on her driving record. Due to the fact that every auto insurer has a unique formula to determine rates, comparing quotes may now show a new list of affordable companies as shown below.
Grange now has the cheapest price in Long Beach, CA with Allstate, Allied, Mercury, and Progressive now being in the top five. This shows why it is critical to compare many different companies when trying to get the cheapest car insurance rates for college graduates. Rates are impacted by many risk factors and change frequently, so the best option six months ago may now be wasting a lot of money.