Deciding which companies quote the cheapest insurance rates for seniors will require more work in order to find the best policy. Each auto insurance company has their own formula for determining prices, so we need to take a look at the most affordable insurance companies in San Francisco, CA.
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|Rank||Company||Cost Per Year|
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Wawanesa normally has some of the cheapest car insurance rates in San Francisco at around $1,146 annually. This is $505 less than the average rate paid by California drivers of $1,651. USAA, Century National, CSAA, and Nationwide also rank well as some of the cheaper San Francisco, CA car insurance companies.
As the example above demonstrates, if you are a policyholder with Century National and switched to Wawanesa, you could earn savings of around $32. Insureds with CSAA might save as much as $76 a year, and Nationwide customers might lower prices by $117 a year.
These premium estimates are averages for all ages of drivers and types of vehicles and are not factoring in a specific location for seniors. So the auto insurance company that can offer the best rates for your situation may not even be in the top 24 companies in the list above. That helps illustrate why you need to compare as many prices as possible using your own driver data and vehicle information.
The type of vehicle you are seeking coverage for is one of the largest considerations when looking for economical insurance for seniors. Vehicles with high performance features, poor passenger safety features, or an increased likelihood of liability claims will cost significantly more to insure than safer models. The next list ranks insurance premiums for a handful of the cheapest automobiles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$1,106|
|Honda CR-V LX 2WD||$1,111|
|Hyundai Elantra SE Touring Station Wagon||$1,202|
|Volkswagen Jetta S 2.5 Station Wagon||$1,209|
|Jeep Wrangler Sahara 4WD 2-Dr||$1,241|
|Ford Focus SE 4-Dr Sedan||$1,285|
|Honda Odyssey EX||$1,290|
|Ford Edge SE AWD||$1,285|
|Chevrolet Malibu LS||$1,311|
|Toyota RAV4 2WD||$1,319|
|Chevrolet Equinox LT 2WD||$1,311|
|Chevrolet Impala LT||$1,317|
|GMC Sierra SLE Regular Cab 2WD||$1,311|
|Toyota Tacoma Double Cab 4WD||$1,320|
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Table data represents married male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Prices do not factor in specific garaging location which can lower or raise coverage rates noticeably.
Based upon the table data, we can tell that makes and models like the Ford Escape, Honda CR-V, Hyundai Elantra, Volkswagen Jetta, and Toyota Prius are the cheaper vehicles to insure for senior citizens.
One of the more important components that are looked at to help calculate the amount you pay each year for auto insurance is where you live in San Francisco. Regions with more people or even just more weather-related claims will most likely have higher rates, whereas less populated areas have the luxury of lower rates.
The following table ranks the most expensive areas in California for seniors to purchase car insurance in. San Francisco comes in at #3 with the annual price of $1,763 for the average policyholder, which is about $147 monthly.
|Rank||City||Average Per Year|
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Prices are comparative as the specific San Francisco residence address can impact price quotes greatly.
How accidents and tickets impact rates
The best way to receive the best insurance premiums in San Francisco for senior citizens is to pay attention while driving and avoid at-fault accidents and violations. The example below shows how violations and at-fault accidents impact auto insurance rates for different ages of insureds. The prices are based on a single male driver, comprehensive and collision coverage, $100 deductibles, and no policy discounts are applied.
In the chart above, the average cost of auto insurance per year with no violations or accidents is $3,444. Add in one speeding ticket and the average cost rises to $3,880, an increase of $436 each year. Then add one accident along with the one speeding ticket and the yearly cost of insurance for seniors jumps again to an average of $5,118. That’s an increase of $1,674, or $139 per month, just for not being more responsible behind the wheel!
The information below highlights how deductible choice can raise or lower insurance costs when quoting cheap insurance for seniors. The prices are based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.
The chart above illustrates that a 50-year-old driver could lower rates by $416 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $626 by selecting a $1,000 deductible. Younger drivers, like the 20-year-old category, could save up to $1,398 each year by using a higher deductible. If you do decide to increase your deductibles, it is necessary to have enough savings to be able to cover the extra out-of-pocket expense that comes with higher deductibles.
Don’t make the mistake of not shopping around
San Francisco insurance rates are determined by lots of factors that can increase your annual premium. Simply having a birthday, moving to a new city, or getting a few speeding tickets can cause premium changes resulting in some rates now being affordable when they were higher priced.
Not only may things change on your end, but auto insurance companies change prices multiple times each year in order to offset underwriting gains or losses. An unexpected high level of claims can cause increased policy costs, while better underwriting may produce lower-priced San Francisco car insurance rates.
As an example, the chart below demonstrates which company has the cheapest car insurance in San Francisco, CA for a 30-year-old male driver with a good driving record, no prior claims, and a good credit history. When quoting prices based on his current risk profile, USAA quotes the lowest car insurance rates in San Francisco at $1,484 each year. This is $167 less than the average price paid by California drivers of $1,651. Century National, Wawanesa, CSAA, and Nationwide also make the list of the cheapest San Francisco, CA auto insurance companies.
The example below compares rates after we give the driver from the first set of rates some claims, slightly worse credit, and a few traffic violations. Because each company has a different formula to set their prices, analyzing rates most likely will result in a significantly different list of the cheapest car insurance companies in San Francisco as shown below.
Grange now has the lowest price on auto insurance in San Francisco with Mercury, Allstate, GEICO, and Allied also having competitive pricing. This example shows why it is critical to compare many different companies when trying to get the most affordable auto insurance quotes for seniors.
Car insurance prices can be determined by many things and can change substantially, so the cheapest option when you last compared rates may now be wasting a lot of money.
The insurance agencies below can provide answers to your questions and help you determine which auto insurance coverages would be the best in your situation, since many consumers aren’t sure which coverage to buy and prefer to have a little guidance when shopping for the best coverage for seniors. It’s not always simple to do it yourself, and getting advice from a licensed California insurance agent can provide you comfort knowing your policy gives you sufficient protection if you have a claim.
To find a San Francisco insurance agency in your neighborhood, click the button at the bottom of the list.
State Farm: Debra O’Farrell
870 Market St #440 – San Francisco, CA 94102 – (415) 982-9900
Allstate Insurance: Dawn Prince
655 14th St – San Francisco, CA 94114 – (415) 552-6200
Dave and Jake Stewart State Farm Insurance
821 Folsom St #101 – San Francisco, CA 94107 – (415) 982-9033
View more San Francisco, CA insurance agencies
How to find low-cost car insurance for seniors
Below you’ll find some penny-pinching solutions that can help California drivers locate cheap coverage.
- Higher physical damage deductibles lower rates
- Increase your credit rating
- Avoid speeding and other traffic citations and pay less
- Prevent rate increases by staying accident-free
- Buy vehicles with good safety ratings
- If your vehicles are older, consider dropping full coverage
- Compare rate quotes often
The last idea is highly crucial, as we discussed in this piece. Insurance prices change constantly, so don’t be tentative to change insurance companies if a lower price can be found. Brand loyalty is great, but is isn’t recommended if that devotion results in you overpaying a considerable chunk of change every month. It takes less than five minutes to shop around to find cheaper insurance for seniors in San Francisco.