The vehicle model you are insuring is one of the largest factors when comparison shopping for the most economical insurance for young drivers. Vehicles with lots of speed or power, a lack of modern safety features, or a track record of large liability claims will cost quite a bit more to insure than safer, lower-performance models.
The next list features car insurance costs for the cheaper automobiles to buy insurance for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$3,384|
|Ford Escape XLT 4WD||$3,419|
|Volkswagen Jetta S 2.5 Station Wagon||$3,640|
|Ford Explorer XLT 4WD||$3,795|
|Jeep Wrangler Sahara 4WD 2-Dr||$3,801|
|Dodge Grand Caravan CV||$3,795|
|Toyota Tacoma 2WD||$3,981|
|GMC Sierra SLE Crew Cab 2WD||$4,016|
|Chevrolet Impala LT||$4,021|
|Toyota RAV4 Limited 4WD||$4,016|
|Chevrolet Silverado LS Regular Cab 2WD||$4,084|
|Honda Civic EX 4-Dr Sedan||$4,204|
|Ford Focus SEL 4-Dr Sedan||$4,210|
|Honda Odyssey EX-L W/Rear Entertainment||$4,239|
|Toyota Camry SE||$4,244|
|Toyota Corolla S||$4,239|
|Hyundai Elantra GLS 4-Dr Sedan||$4,247|
|Ford Edge Sport AWD||$4,239|
|Chevrolet Malibu LTZ||$4,276|
|Chevrolet Equinox LTZ AWD||$4,281|
|Chevrolet Silverado 2500HD LT Crew Cab 4WD||$4,276|
|Nissan Altima Hybrid 4-Dr Sedan||$4,282|
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Table data represents single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium costs do not factor in specific location which can decrease or increase rates noticeably.
Based on these rates, you can conclude that makes and models like the Honda CR-V, Ford Escape, Volkswagen Jetta, and Toyota Prius are going to be a few of the most economical vehicles to insure for youthful drivers. The price of auto insurance will trend higher because there is more exposure for young drivers, but overall those vehicles will have the lowest insurance prices compared to other vehicles.
For youthful drivers, one of the more important factors that aid in calculating car insurance rates is where you keep your car. Cities with larger populations are more likely to pay higher prices, whereas areas with less crime or weather claims benefit from having to pay less for coverage.
The information below shows the priciest cities in California for young drivers to buy car insurance in. Bakersfield comes in at #20 having an annual price of $1,381 for coverage, which is approximately $115 per month.
|Rank||City||Average Per Year|
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Rates are comparative as specific Bakersfield garaging address can raise or lower prices noticeably.
Cost of full coverage
Finding the cheapest car insurance is probably important to most people, and an effective way to buy cheaper insurance for young drivers is to not buy full coverage. The illustration below illustrates the difference between insurance prices with full coverage and liability only. The rates are based on no accidents, no driving violations, $500 deductibles, drivers are single, and no additional discounts are factored in.
As an average for all age groups, physical damage coverage on your policy costs $2,772 per year over having just liability coverage. That amount may make you wonder if paying for full coverage is worth it. There is no exact formula to exclude full coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.
For example, let’s pretend your vehicle’s book value is $8,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company will settle for is $7,500 after the policy deductible has been paid. If it’s costing in excess of $750 annually to have full coverage, then you may want to consider only buying liability coverage.
There are a few cases where buying only liability insurance is not recommended. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.
The diagram below shows how choosing a deductible can raise or lower annual premium costs when searching for cheap insurance for young drivers. The premiums are based on a single male driver, full coverage, and no discounts are applied.
The chart above illustrates that a 50-year-old driver could reduce rates by $506 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $762 by using a $1,000 deductible. Young drivers, like the 20-year-old category, can save as much as $1,674 annually by using a higher deductible.
When raising deductibles, it is important to have enough spare savings to enable you to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Here’s why you should shop around
Bakersfield, CA car insurance rates are calculated based on many things which can substantially decrease or increase the cost of your policy. Simply getting older, moving across town, or getting into an accident may cause policy rate changes that may make certain companies cheaper than competitors. Additionally, auto insurance companies file new California auto insurance rates multiple times each year in order to be able to pay unexpected claims. An unexpected high level of claims can cause more expensive premiums, while a better claims history can cause cheaper Bakersfield car insurance rates.
The chart below analyzes the cheapest car insurance in Bakersfield, CA for a 35-year-old female driver with no accidents, a clean driving record, and excellent credit. When quoting prices based on her personal risk profile, USAA offers the cheapest car insurance rates in Bakersfield at $1,180 annually. This is $471 less than the average price paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide are the remainder of the cheapest Bakersfield, CA auto insurance companies.
Let’s now give the driver from the first example some claims, a lower credit score, and a couple of points charged on her driving record. Since each auto insurer has a unique approach for setting rates, analyzing rates most likely will result in a different list of affordable companies as shown below.
Grange now has the best auto insurance rate in Bakersfield, CA with Progressive, GEICO, Allstate, and Mercury now being in the top five. This example illustrates why consumers need to do a thorough rate comparison to find the lowest car insurance rates for young drivers.
Auto insurance prices are determined by many different factors and change frequently, so the best price when you last compared rates may now not even be in the top five.
If you aren’t sure which coverage you need and prefer to get some professional advice when trying to find lower insurance rates for young drivers, the insurance agencies below can probably provide answers to your questions and help you determine which policy fits your needs best.
To locate a Bakersfield car insurance agency nearest to you, click the button following the list or click here to compare price quotes.
Walter Mortensen Insurance
8500 Stockdale Hwy – Bakersfield, CA 93311 – (661) 834-6222
Allstate Insurance: Charles Brummer
4300 Coffee Rd, Ste A4 – Bakersfield, CA 93308 – (661) 283-0300
Keith Goree – State Farm Insurance Agent
11350 Ming Ave #230 – Bakersfield, CA 93311 – (661) 663-9000
Ideas for finding more affordable auto insurance for young drivers
The list below summarizes some of the better thrifty ideas that can help Bakersfield drivers quote cheap coverage.
- Higher deductibles save money
- Higher credit scores can equal lower rates
- Avoid price increases by not filing claims
- Buying car and homeowners insurance together can save money
- Drive vehicles with five-star safety ratings
- Remove physical damage coverage on older vehicles
- Shop your coverage around for the best deal
The last tip is highly crucial, as we stressed in this piece. Coverage rates in Bakersfield adjust often, so don’t hesitate to change insurance companies if a more affordable price is available.
Many consumers stick with the same company and that’s fine, but it’s not recommended if that inflexibility results in costing you hundreds every year. It takes less than five minutes to compare rates and find cheaper auto insurance for young drivers.