You have probably seen the captivating ads from auto insurance companies like Allstate and Nationwide promising huge savings. So you should just choose any one of them, right?
Unfortunately, it’s just not that easy, as there are a lot of unknown factors like if full coverage is needed, if you have a coverage lapse, and how well you maintain your credit, that all factor into the price you pay. This article covers the best ways to avoid high prices and will hopefully give you a solid foundation to find cheaper car insurance in California.
One of the more important things that aid in calculating the cost of insurance is where your car is garaged in San Francisco. More densely populated places tend to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates can boast about having cheaper rates.
The illustration below rates the most expensive places in California for college graduates to buy car insurance in. San Francisco ranks #3 having an annual price of $1,745 for the average policy, which is about $145 each month.
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Rates are comparative as the specific garaging location can increase or decrease rates considerably.
The vehicle model needing coverage is one of the largest factors that determines whether or not you can buy economical coverage for college graduates. Vehicles with economical engines, a great safety record, or low incidents of liability claims will cost much less to insure than adrenaline junky models.
The list below ranks auto insurance premiums for a selection of the cheapest automobiles to buy coverage for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$1,339|
|Honda CR-V EX-L 4WD||$1,370|
|Ford Escape Limited 4WD||$1,457|
|Ford Edge SE 2WD||$1,472|
|Ford F-150 STX Super Cab 2WD||$1,611|
|Ford Explorer Limited 4WD||$1,618|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,627|
|Chevrolet Impala LTZ||$1,676|
|Toyota Camry SE||$1,683|
|Toyota Corolla LE||$1,676|
|Nissan Rogue S 2WD||$1,702|
|Jeep Grand Cherokee Limited 4WD||$1,705|
|Toyota RAV4 Sport 2WD||$1,738|
|Ford Fusion S 4-Dr Sedan||$1,744|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$1,749|
|Honda Odyssey EX W/Rear Entertainment||$1,752|
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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 homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Price information does not factor in vehicle garaging location which can alter coverage rates significantly.
By looking at the data, you can presume that makes and models like the Honda Accord, Honda CR-V, Ford Escape, Ford Edge, and Ford F-150 are likely to be a few of the most budget-friendly vehicles to insure for college grads.
How careless driving impacts San Francisco insurance rates
The easiest way to get low insurance prices for college grads is to be a good driver and avoid traffic citations and accidents. The chart below illustrates how traffic citations and at-fault fender-benders impact insurance premiums for different ages of insureds. The rates are based on a married male driver, comp and collision included, $100 deductibles, and no additional discounts are factored in.
In the previous chart, the average cost of auto insurance per year with no violations or accidents is $2,157. Receive one speeding ticket and the average cost rises to $2,476, an increase of $319 each year. Then add in two accidents along with the one speeding ticket and the annual cost of insurance for college graduates increases to an average of $5,157. That’s an increase of $2,999, or $250 per month, just for not being attentive to the road!
Full coverage versus liability-only in San Francisco
Lowering the price of insurance is the goal of the majority of people, and one of the fastest ways to reduce the cost of insurance for college graduates is to not pay for full coverage. The chart below visualizes the comparison of insurance prices with and without physical damage coverage. The costs are based on no claims or driving citations, $100 deductibles, marital status is single, and no additional discounts are factored in.
Averaged for all ages 20 through 70, physical damage coverage costs $2,525 per year more than insuring for liability only. That proposes the question when is the right time to remove full coverage. There is no definitive guideline for excluding full coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.
Get discount San Francisco car insurance
Insurance providers that sell policies for college graduates may also give you special discounts that can lower rates by as much as 40% or more if you meet eligibility requirements. A list of insurance companies and their offered discounts are detailed below.
- GEICO may include discounts for multi-policy, multi-vehicle, federal employee, good student, emergency military deployment, and anti-lock brakes.
- USAA may offer discounts for safe driver, multi-policy, loyalty savings, good student, and driver training.
- Progressive has discounts for online signing, continuous coverage, multi-vehicle, online quote discount, and homeowner.
- American Family offers premium reductions for accident-free, good student, multi-vehicle, mySafetyValet, Steer into Savings, and early bird.
- Esurance includes discounts for homeowner, paid-in-full, multi-car, Pac-12 alumni, emergency road assistance, and multi-policy.
- Farmers Insurance policyholders can earn discounts including distant student, homeowner, switch companies, business and professional, and pay in full.
- State Farm offers discounts including multiple policy, multiple autos, Steer Clear safe driver discount, Drive Safe & Save, passive restraint, and driver’s education.
The example below shows the difference between car insurance costs with and without discounts applied to the policy premium. The price estimates are based on a female driver, no driving violations, no at-fault accidents, California state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with marriage, multiple policy, passive restraint, homeowner, safe-driver, and accident-free discounts applied. When discounts are applied, theaverage amount saved on insurance for college graduates is 28% or $830.
How to find more affordable auto insurance for college graduates
It’s not impossible to find cheaper rates, and here are some thrifty ideas that can help San Francisco drivers find cheaper coverage.
- Vehicles with good safety ratings are usually cheaper to insure
- Try to remain claim-free
- Drivers with good credit ratings often pay less
- Save money by only buying liability coverage for older vehicles
- Bundle home and auto and earn a discount
- Increase the comprehensive and collision deductibles on your policy
- Ensure you have the best deal by shopping around regularly
The final tip is extremely necessary, as we stressed in this piece. Car insurance prices vary considerably, so drivers shouldn’t be reluctant to switch to a new company if a lower price can be found.
Brand loyalty is great, but we do not recommend it if your bullheadedness ends up costing you a small fortune year after year. If you have a few minutes, now is a great time to compare prices and find cheaper car insurance for college graduates in San Francisco.
The auto insurance agents in San Francisco shown below are willing to answer your questions and help you decide which coverages and limits you need, since lots of drivers aren’t clear which coverage they need and would like to have some professional guidance when comparing insurance rates for college grads. It can be difficult to find the cheapest rate yourself, so a licensed agent can provide you comfort knowing your policy gives you sufficient protection if you have a claim. To find a San Francisco insurance agency nearest to you, click the button link following the list or click here to compare prices now.
Kiet Nguyen – State Farm Insurance Agent
4198 Mission St – San Francisco, CA 94112 – (415) 587-1880
Primeras Insurance Agency
3339 23rd St – San Francisco, CA 94108 – (415) 829-7312
Yan Lukito – State Farm Insurance Agent
5214 Diamond Heights Blvd i – San Francisco, CA 94131 – (415) 282-5558
Jerry Verdi – State Farm Insurance Agent
408 Columbus Ave #2 – San Francisco, CA 94133 – (415) 788-7881
Jing Lee – State Farm Insurance Agent
4444 Geary Blvd #300 – San Francisco, CA 94118 – (415) 752-8888