The words “affordable” and “insurance” really should not be used together, in particular when shopping around for the best insurance rates for low credit scores. Because of the high cost, let’s go over a few of the things that have a considerable impact on insurance prices, and come up with some ways to reduce the cost of the next policy you buy.
The make and model of vehicle requiring insurance is probably the biggest factor that determines the availability of the most affordable auto insurance for low credit scores. Vehicles with lower acceleration and performance, good safety features, or low incidents of liability claims will cost much less to insure than high performance models.
The next list illustrates coverage prices for a handful of the most affordable automobiles to buy insurance for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $961 |
| Toyota Prius | $973 |
| Ford Escape XLS 4WD | $992 |
| Ford Edge SEL AWD | $1,020 |
| Toyota RAV4 2WD | $1,039 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,045 |
| Nissan Rogue S 2WD | $1,111 |
| Chevrolet Impala LS | $1,115 |
| Ford F-150 Lariat Crew Cab Platinum 2WD | $1,122 |
| Nissan Altima 2.5 4-Dr Sedan | $1,138 |
| Ford Focus SE 4-Dr Sedan | $1,146 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,159 |
| Hyundai Sonata SE 4-Dr Sedan | $1,165 |
| Jeep Grand Cherokee Laredo 4WD | $1,172 |
| Chevrolet Malibu LS | $1,182 |
| Honda Civic LX-S 4-Dr Sedan | $1,178 |
| Toyota Camry Hybrid | $1,187 |
| Dodge Ram 2500 Crew Cab ST 2WD | $1,196 |
| Ford Explorer Eddie Bauer 4WD | $1,197 |
| Dodge Grand Caravan Crew | $1,207 |
| Toyota Corolla XLE | $1,201 |
| Hyundai Elantra SE 4-Dr Sedan | $1,211 |
| Chevrolet Silverado 3500HD LT Crew Cab Diesel 2WD | $1,210 |
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Cost estimates assume 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, homeowner, multi-policy, and multi-vehicle. Price information does not factor in specific Irvine, CA garaging location which can change insurance rates substantially.
Looking at the data, you can conclude that models like the Honda CR-V, Toyota Prius, and Ford Escape are most likely to be the more affordable vehicles to insure for bad credit.
Comparing quotes for reasonably-priced auto insurance is not easy, and finding out which companies quote the cheapest insurance rates for low credit scores will require even more work. Every auto insurer has a different formula to set their prices, so first we will examine the insurance companies with the most affordable rates in California.
It’s important that you understand California insurance rates are determined by lots of factors that control the price you pay for coverage. This price variability is why it is crucial to compare lots of rates to get affordable insurance rates for low credit scores. Rates can be determined by many factors and change substantially, so the most economical option three years ago may now be quite expensive.
Find the Cheapest Auto Insurance in California
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,121 |
| 2 | Wawanesa | $1,181 |
| 3 | CSAA | $1,222 |
| 4 | Nationwide | $1,226 |
| 5 | Century National | $1,226 |
| 6 | 21st Century | $1,366 |
| 7 | Grange | $1,477 |
| 8 | Progressive | $1,496 |
| 9 | Mercury | $1,503 |
| 10 | GEICO | $1,513 |
| 11 | Allied | $1,541 |
| 12 | Allstate | $1,559 |
| 13 | MetLife | $1,606 |
| 14 | The Hartford | $1,639 |
| 15 | State Farm | $1,699 |
| 16 | Esurance | $1,705 |
| 17 | Unitrin | $1,733 |
| 18 | Bristol West | $1,831 |
| 19 | Travelers | $1,842 |
| 20 | Farmers | $2,006 |
| Quote Your Rates Go | ||
USAA may have some of the cheapest car insurance rates in Irvine at around $1,121 per year. This is $530 less than the average premium paid by California drivers of $1,651. Wawanesa, CSAA, Nationwide, and Century National also qualify as some of the cheapest Irvine, CA insurance companies.
As the rates illustrate above, if you are a customer of Nationwide and switched to USAA, you may realize an annual premium reduction of upwards of $105. California drivers with Century National may save as much as $105 a year, and 21st Century insureds might cut rates by $245 a year.
These premium estimates are averages for all drivers and vehicles and and are not figured with a vehicle location for low credit scores. So the auto insurance company that fits you best may not even be in the top 24 companies shown above. That underscores the importance of why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.
For bad credit, one of the largest components that are looked at to determine the amount you pay for auto insurance is where you live in Irvine. Areas with high crime rates or more dense population tend to have more expensive car insurance rates, whereas areas with less congestion have the benefit of cheaper car insurance.
The illustration below ranks the highest-priced places in California for low credit scores in which to purchase auto insurance. Irvine shows up at #24 costing $1,330 on average, which is approximately $111 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Los Angeles | $2,168 |
| 2 | Glendale | $2,058 |
| 3 | Oakland | $1,738 |
| 4 | San Francisco | $1,693 |
| 5 | Sacramento | $1,652 |
| 6 | San Bernardino | $1,644 |
| 7 | Long Beach | $1,626 |
| 8 | Santa Clarita | $1,595 |
| 9 | Stockton | $1,588 |
| 10 | Fontana | $1,535 |
| 11 | Garden Grove | $1,524 |
| 12 | Moreno Valley | $1,506 |
| 13 | Fresno | $1,502 |
| 14 | Modesto | $1,502 |
| 15 | Anaheim | $1,488 |
| 16 | Santa Ana | $1,483 |
| 17 | Riverside | $1,482 |
| 18 | Fremont | $1,389 |
| 19 | San Diego | $1,381 |
| 20 | San Jose | $1,381 |
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Rate information is comparative as the specific garaging location can alter premiums considerably.
Choosing the right insurance company can be rather challenging considering how many different insurance companies sell coverage in California. The ranking information shown next may help you analyze which insurers to look at purchasing a policy from.
These ratings are only comprised of the largest companies in the United States, so companies that focus mainly on California business are not factored into these rankings. To get rate quotes from these top insurers and more, just click here.
| 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 |
| Mercury Insurance | 88 | 91 | 90 | 85% | A+ | 89.4 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Irresponsible driving raises your rates
The best way to obtain cheap insurance prices in California for bad credit is to drive cautiously and avoid accidents and traffic citations. The chart below illustrates how violations and accidents can increase car insurance rates for different age groups. Data assumes a single male driver, comp and collision included, $1,000 deductibles, and no discounts are taken into consideration.
In the previous chart, the average cost of a car insurance policy per year with no violations or accidents is $2,467. Factor in one speeding ticket and the average cost increases to $2,787, an increase of $320 each year. Now get two accidents along with the one speeding ticket and the yearly cost of insurance for low credit scores increases to an average of $5,801. That’s an increase of $3,334, or $278 per month, just for not being attentive to the road!
Why you should be shopping around
Irvine, CA insurance rates are impacted by many things which can substantially decrease or increase the price of your policy. Simply having a birthday, becoming a homeowner, or getting a speeding ticket can produce rate changes that can make some companies more affordable than competitors. Not only may things change on your end, but auto insurance companies file new California car insurance rates as needed to help ensure profitability. Higher than normal claims can cause more expensive premiums, while better underwriting may result in cheaper Irvine car insurance rates.
For instance, the data below compares the cheapest car insurance in Irvine, CA for a 40-year-old male driver with no prior accidents, a clean driving record, and good financial standing. If we estimate prices based on his personal profile, USAA might offer the lowest car insurance rates in Irvine at $1,219 a year. This is $432 less than the average policy premium paid by California drivers of $1,651. Century National, Wawanesa, CSAA, and Nationwide also make the list of the best Irvine, CA auto insurance companies.
In the next rate comparison, we’ll give the driver from the first set of rates an accident claim, a lower credit rating, and a stop sign violation. Because every insurance company has a different formula for setting rates, getting updated rate quotes may now result in a significantly different list of affordable companies as shown below.
Grange now has the best price on car insurance in Irvine, CA with GEICO, Mercury, Allstate, and Progressive now rounding out the top five. This demonstrates why it is so important to shop around with many companies to get the lowest auto insurance rates for low credit scores.
Insurance rates are made up of many things and change frequently, so the best option a year ago may now be one of the more expensive options.