The words “economical” and “insurance” really don’t belong together, specifically when you are trying to find the best coverage prices for homeowners. Because it’s not cheap, let’s take a look at some of the things that have an impact on auto insurance rates, and see if we can help you slash the price of your next policy.
The car, truck, or SUV on the policy is a large factor when comparing quotes for low-cost car insurance for homeowners. Vehicles with more horsepower, poor safety ratings, or a track record of large liability claims will cost significantly more to insure than safer, lower-performance models. The next table presents car insurance premiums for a selection of the cheapest automobiles to insure in California.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 4WD | $788 |
| Honda CR-V EX 4WD | $806 |
| Honda Accord EX 4-Dr Sedan | $888 |
| Ford Focus S 4-Dr Sedan | $916 |
| Volkswagen Jetta SE 2.5 Station Wagon | $922 |
| Chevrolet Malibu LS | $934 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $950 |
| Toyota Prius | $956 |
| Toyota Corolla XRS | $1,000 |
| Chevrolet Silverado LT Extended Cab 2WD | $1,006 |
| Nissan Rogue S 2WD | $1,000 |
| Ford F-150 XLT Crew Cab 2WD | $1,002 |
| Chevrolet Impala LT | $1,020 |
| Toyota RAV4 Limited 4WD | $1,029 |
| Ford Explorer Eddie Bauer AWD | $1,040 |
| Dodge Grand Caravan Hero | $1,052 |
| Honda Civic VP 4-Dr Sedan | $1,056 |
| Chevrolet Silverado 2500HD LT Crew Cab Diesel 4WD | $1,068 |
| Hyundai Elantra SE 4-Dr Sedan | $1,076 |
| Nissan Altima 2.5 S 4-Dr Sedan | $1,084 |
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Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Price estimates do not factor in garaging location in Irvine, CA which can decrease or increase prices noticeably.
Looking at the data, cars like the Ford Escape, Honda CR-V, and Honda Accord should be some of the cheaper vehicles to insure for people who own their homes.
For people who own their homes, one of the more important criteria that help determine auto insurance rates is where you live in Irvine. Areas with more people or even just a higher incidence of claims tend to have more expensive car insurance rates, whereas more rural areas benefit from lower coverage costs.
The information below ranks the most expensive places in California for homeowners to purchase auto insurance in. Irvine is ranked #22 having an annual price of $1,343 for the average policy, which is about $112 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Glendale | $2,142 |
| 2 | Los Angeles | $2,083 |
| 3 | San Francisco | $1,745 |
| 4 | Oakland | $1,738 |
| 5 | Sacramento | $1,652 |
| 6 | Long Beach | $1,610 |
| 7 | Santa Clarita | $1,595 |
| 8 | San Bernardino | $1,580 |
| 9 | Garden Grove | $1,570 |
| 10 | Stockton | $1,556 |
| 11 | Moreno Valley | $1,551 |
| 12 | Modesto | $1,547 |
| 13 | Fontana | $1,519 |
| 14 | Fresno | $1,517 |
| 15 | Riverside | $1,482 |
| 16 | Santa Ana | $1,439 |
| 17 | Anaheim | $1,430 |
| 18 | Fremont | $1,403 |
| 19 | San Jose | $1,381 |
| 20 | Huntington Beach | $1,360 |
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Premium costs are estimated as the specific Irvine residence address can change auto insurance rates substantially.
Irvine insurance companies ranked
Picking the highest-rated company can be a challenge considering how many different companies insure vehicles in California. The company rank data shown next may help you choose which companies to look at putting your business with. These rankings include companies that insure vehicles nationwide, so smaller companies that only insure vehicles in California are not taken into consideration for this list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| AAA of Southern California | 91 | 94 | 97 | 92% | A+ | 94.1 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
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Data Source: Insure.com Best Car Insurance Companies
Rate increases following a ticket or accident
The recommended way to score the most affordable insurance premiums for people who own their homes is to be a good driver and avoid traffic citations and accidents. The diagram below illustrates how violations and at-fault claims increase annual premium costs for each different age category. The premium estimates are based on a married female driver, comp and collision included, $1,000 deductibles, and no discounts are applied to the premium.
In the prior example, the average cost of car insurance per year with no accidents and a clean driving record is $1,537. Get one speeding ticket and the average cost surges to $1,793, an increase of $256 each year. Now throw in one accident along with the one speeding ticket and the annual cost of insurance for homeowners jumps again to an average of $2,507. That’s an increase of $970, or $81 per month, just for being a little careless behind the wheel!
Don’t stick with an overpriced policy
Irvine insurance rates are determined by lots of factors which can significantly increase or decrease the price of coverage. Simply having another birthday, buying higher coverage limits, or getting a DUI can trigger rate changes that can make some companies affordable when they were higher priced. Not only may things change on your end, but auto insurance companies change the rates they charge in California every year or even multiple times each year to adjust for gains or losses. An extended period of higher than normal claims may cause more expensive prices, while better underwriting may result in lower-priced Irvine car insurance rates.
To illustrate this point, the chart below shows the companies that have the cheapest car insurance in Irvine, CA for a 35-year-old female driver with a good driving record, no prior claims, and excellent credit. When quoting prices based on her current rating profile, USAA might quote the cheapest car insurance rates in Irvine at $1,121 annually. This is $530 less than the average policy premium paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide are the remainder of the top five cheapest Irvine, CA auto insurance companies.
Now we will give the driver in the first chart a couple of claims, a lower credit rating, and a blemish on her driving record. Because each insurer uses their own formula to establish rates, comparing prices could now result in a slightly different list of the cheapest car insurance companies in Irvine as shown below.
Grange now has the best price on car insurance in Irvine with Mercury, Progressive, GEICO, and Allstate completing the list. This shows why Irvine drivers need to do a thorough rate comparison to get the most affordable insurance quotes for homeowners.
Insurance prices are made up of many factors and change frequently, so the best company the last time you shopped around may now be priced much higher than other options.