You’ve seen the ads from companies like Liberty Mutual and The General claiming dirt cheap rates, so you should just choose any of them, right?
It’s not that easy, however, as there are a ton of unknowns such as if you are a homeowner, if you have ever had a coverage lapse, and what deductibles you want to use, that all impact the price you pay. This article covers the best ways to maintain low rates and will hopefully give you a good beginning to your search for cheaper coverage.
One of the more important components that help determine the price you pay for insurance is your address in Bakersfield. Cities with larger populations or higher claim trends will most likely have higher rates, whereas areas with less congestion have the luxury of cheap car insurance rates.
The information below lists the highest-priced places in California for college graduates to purchase auto insurance in. Bakersfield is ranked at #22 with an annual cost of $1,340 on average, which is around $112 per month.
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Annual rates are comparative as specific Bakersfield garaging address can modify coverage prices noticeably.
The car, truck, or SUV you are trying to insure is probably the largest consideration when trying to find the cheapest coverage for college graduates. Vehicles with average performance, modern passenger safety features, or a track record of few liability claims will cost significantly less to insure than high performance models. The list below showcases insurance prices for a handful of the most cost-effective automobiles to buy coverage for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$882|
|Honda CR-V LX 2WD||$996|
|Ford Focus S 4-Dr Sedan||$1,024|
|Chevrolet Silverado LS Extended Cab 4WD||$1,045|
|Dodge Grand Caravan SE||$1,081|
|Chevrolet Impala LTZ||$1,102|
|Ford Edge SEL 2WD||$1,119|
|Ford Explorer XLT 2WD||$1,121|
|GMC Sierra SLE Crew Cab 4WD||$1,127|
|Jeep Wrangler Unlimited Sahara 4WD 4-Dr||$1,134|
|Chevrolet Equinox LT 2WD||$1,142|
|Volkswagen Jetta S 4-Dr Sedan||$1,150|
|Toyota Camry LE||$1,176|
|Toyota RAV4 Limited 2WD||$1,185|
|Nissan Rogue SL AWD||$1,176|
|Honda Civic EX 4-Dr Sedan||$1,182|
|Kia Optima SX||$1,195|
|Toyota Camry Hybrid||$1,203|
|Toyota Tacoma Double Cab 4WD||$1,204|
|Toyota Corolla LE||$1,206|
|Chevrolet Malibu LTZ||$1,227|
|Hyundai Elantra GLS 4-Dr Sedan||$1,231|
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Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Information does not factor in vehicle garaging location which can modify premiums significantly.
Looking at the data, you can assume that cars like the Ford Escape, Toyota Prius, Honda CR-V, Ford Focus, and Chevrolet Silverado will be the most economical vehicles to insure for college grads.
Establishing which company quotes the best car insurance rates for college graduates involves a bit more effort in order to find the most economical policy. Every auto insurer has a proprietary method for determining rates in each state, so let’s take a look at the car insurance companies with the overall best prices in Bakersfield, CA.
It’s important that readers know that Bakersfield, CA car insurance rates are impacted by many factors which can substantially change the price you have to pay for coverage. Improving your credit score, getting divorced, or getting a driving violation may cause policy rate changes that can now make some companies cheaper than competitors.
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USAA may have some of the most affordable car insurance rates in Bakersfield at around $1,109 annually. This is $542 less than the average rate paid by California drivers of $1,651. Century National, Wawanesa, Nationwide, and CSAA also rank well as some of the cheaper Bakersfield, CA auto insurance companies.
As depicted above, if you are a policyholder with Nationwide and switched to USAA, you may realize savings of around $117. California drivers with CSAA may save as much as $125 a year, and 21st Century customers might lower prices by $216 a year.
These estimates are averaged across all drivers and vehicles in California and and are not figured with a vehicle location for college graduates. So the car insurance company that can offer you the best rate may not even be in the list above. That emphasizes why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.
Should you buy full coverage?
Saving money when shopping for car insurance is probably important to the majority of vehicle owners, and an effective way to pay less for insurance for college graduates is to buy only liability coverage. The example below compares premium costs with and without physical damage coverage. The rate quotes are based on no accidents, no driving violations, $100 deductibles, drivers are not married, and no other discounts are factored in.
On average, full coverage on your policy costs $2,525 per year more than buying just liability insurance. That proposes the question if full coverage is worth the money. There is no clear-cut formula that works best for making the decision to drop comprehensive and collision coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.
For example, let’s assume your vehicle’s claim settlement value is $9,500 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $8,500 after paying your deductible. If it’s costing in excess of $850 annually for physical damage coverage, then you may want to consider only buying liability coverage.
There are some circumstances where eliminating full coverage is not recommended. If you still have a loan on your vehicle, you have to keep full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should keep full coverage.
Types of discounts on Bakersfield auto insurance rates
Insurance companies that provide coverage for college graduates may additionally offer premium discounts that can lower rates by 25% or more if you meet specific eligibility requirements. Companies and some of the discounts are shown below.
- Progressive includes discounts for online quote discount, multi-vehicle, multi-policy, homeowner, online signing, and good student.
- MetLife policyholders can earn discounts including good driver, defensive driver, accident-free, multi-policy, and claim-free.
- Mercury Insurance has savings for low natural disaster claims, age of vehicle, multi-policy, multi-car, accident-free, and good student.
- Nationwide offers discounts for defensive driving, easy pay, anti-theft, Farm Bureau membership, accident-free, and good student.
- GEICO offers discounts including driver training, anti-theft, emergency military deployment, federal employee, and daytime running lights.
- AAA may offer discounts for education and occupation, pay-in-full, good driver, multi-car, and AAA membership discount.
The illustration below shows the comparison of insurance premiums with and without discounts applied to the rates. The rates are based on a male driver, a clean driving record, no claims, California state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with claim-free, safe-driver, vehicle safety, anti-theft, homeowner, and marriage discounts applied. When drivers qualify for the discounts, theaverage amount saved on car insurance for college graduates is 28% or $576.
The agents listed below can probably aid you in deciding which coverages and limits you need, as some drivers aren’t sure which coverage they need and prefer to have a little guidance when comparing insurance rates for college grads. It can be complicated to find the best policy yourself, and insurance agents licensed in the state of California can add peace of mind knowing your policy gives you enough coverage when you need it.
To locate an agency by location nearest to you, click the button after the list.
Lorena Magana Insurance Agency, Inc.
4141 Ming Ave – Bakersfield, CA 93309 – (559) 783-9550
Tony Camarena Insurance Agency
324 Oak St – Bakersfield, CA 93304 – (661) 322-3500
Mike Boyer – State Farm Insurance Agent
9720 Brimhall Rd Ste 200 – Bakersfield, CA 93312 – (661) 588-1140
Clifford and Bradford Insurance Agency
1515 20th St – Bakersfield, CA 93301 – (661) 283-8100
More insurance agents in Bakersfield, CA
Ideas for finding budget-friendly insurance for college graduates
It is possible to find better rates, and here are a few thrifty suggestions that can help Bakersfield drivers buy low-cost auto insurance.
- Save money by only buying liability coverage for older vehicles
- Buy your auto and home insurance from the same company and save
- You will pay more if you get tickets or have at-fault accidents
- Having at-fault accidents will increase rates
- Buy a car with high safety ratings
- Try to not file small claims
- Shop around for cheaper rates regularly
The last idea is certainly important, as we hit on in the prior article. Insurance prices adjust often, so drivers shouldn’t hesitate to switch carriers if a better rate can be found.
Brand loyalty is great, but it’s not recommended if that loyalty ends up costing thousands of dollars over several years. If you have a few minutes, shop around and find cheaper car insurance for college graduates in Bakersfield.