Finding out which company offers the best car insurance rates for drivers requiring a SR22 calls for a bit more effort in order to find coverage that fits your budget. Every insurance company uses their own method to set their prices, so let’s examine the lowest cost car insurance companies in California.
Keep in mind that California car insurance rates are calculated based on many things which can substantially decrease or increase the cost of coverage. Improving your credit score, having a claim, or getting a couple of tickets can trigger rate changes that can now make some companies cheaper than before.
Find Cheaper Auto Insurance for SR22 Drivers
|Rank||Company||Cost Per Year|
|View More Rates Go|
USAA may offer some of the cheapest car insurance rates in Stockton at around $1,109 annually. This is $542 less than the average premium paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide also are some of the lowest-priced Stockton, CA auto insurance companies.
As depicted above, if you currently have coverage with Wawanesa and switched to USAA, you might achieve an annual premium reduction of roughly $72. Drivers with Century National may save as much as $81 a year, and CSAA customers might cut rates by $113 a year.
Understand that those policy prices are averages for all types of insureds and vehicles and and are not calculated with a vehicle location for drivers requiring a SR22. So the car insurance company that can offer you the best price may not even be in the list above. That illustrates why you need to get car insurance quotes using your own personal information and vehicle type.
For high risk drivers, one of the big considerations that are used to help calculate the price you pay for insurance is where your car is garaged. Cities with larger populations likely pay more, whereas areas with less congestion have the benefit of cheaper car insurance.
The illustration below sorts the most expensive areas in California for drivers requiring a SR22 in which to purchase auto insurance. Stockton is ranked at #8 with a yearly cost of $1,588 for the average insured, which is approximately $132 each month.
|Rank||City||Premium Per Year|
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Rates are estimated as specific Stockton zip code can increase or decrease insurance rates substantially.
The vehicle you are trying to insure is one of the biggest factors that determines whether or not you can buy the most economical coverage for drivers requiring a SR22. Vehicles with high performance, a lack of advanced safety features, or a track record of large liability claims will cost significantly more to insure than more economical and safe models. The data below shows auto insurance rates for a selection of the most economical automobiles to buy insurance for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$3,789|
|Honda Accord LX 4-Dr Sedan||$3,925|
|Ford Escape XLT 2WD||$4,016|
|Chevrolet Silverado LS Regular Cab 4WD||$4,194|
|Volkswagen Jetta S 2.5 Station Wagon||$4,285|
|Chevrolet Malibu LS||$4,440|
|Nissan Altima 2.5 4-Dr Sedan||$4,448|
|Ford Explorer Eddie Bauer 4WD||$4,482|
|Chevrolet Impala LS||$4,600|
|Toyota Corolla XLE||$4,639|
|Toyota RAV4 4WD||$4,646|
|Toyota Camry LE||$4,651|
|Chevrolet Equinox LS AWD||$4,646|
|Honda Odyssey EX||$4,709|
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Table data assumes single female driver age 30, two speeding tickets, two at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, homeowner, and multi-policy. Premium costs do not factor in specific garaging location which can alter premium rates greatly.
Based upon the table data, we can assume that makes and models like the Honda CR-V, Honda Accord, Ford Escape, and Toyota Prius are a few of the most affordable vehicles to insure for high risk drivers. Rates will be higher anyway just due to the fact that there is more inherent risk for drivers requiring a SR22, but in general those particular vehicles will most likely have the cheapest rates available.
Rate difference between full and liability-only coverage
Lowering the price of car insurance is important to most vehicle owners, and one of the quickest ways to find cheaper insurance for drivers requiring a SR22 is to not insure for full coverage. The diagram below compares premium costs with full physical damage coverage and with liability coverage only. The information is based on no claims, a clean driving record, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
Averaged for all ages 20 through 70, physical damage coverage on your policy costs $2,003 per year more than insuring for liability only. That may make you wonder when is it a good idea to stop buying full coverage. There is no written rule to eliminate comp and collision coverage, but there is a general guideline. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
There are some situations where dropping physical damage coverage is not financially feasible. If you still owe money on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
The information below illustrates how choosing a deductible can increase or decrease insurance costs when researching cheap insurance for drivers requiring a SR22. The premium estimates are based on a single male driver, full physical damage coverage, and no additional discounts are factored in.
The data above shows that a 50-year-old driver could reduce rates by $492 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $738 by selecting a $1,000 deductible. Younger drivers, like the Age 20 category, could drop their prices up to $1,640 or more just by choosing larger deductibles.
When raising deductibles, it will be necessary to have enough funds in savings to satisfy the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
How to find low-cost auto insurance for drivers requiring a SR22
Below you’ll find some penny-pinching suggestions that can help drivers locate lower-cost coverage.
- Raise physical damage deductibles
- You will pay more if you get tickets or have at-fault accidents
- Drive attentively and avoid accidents
- Drive a car with a high safety rating
- Drivers with good credit ratings often pay less
- Older vehicles may not need full coverage
- Compare rate quotes frequently
That final tip is highly critical, as was affirmed in this piece. Prices charged by car insurance companies in Stockton can change considerably based on profitability, so drivers shouldn’t be resistant to change insurance companies if a better rate can be found.
Many drivers tend to have loyalty to a certain company, but we do not recommend it if that dedication is costing lots of hard earned cash every month. Take a few minutes and compare prices and find cheaper insurance for drivers requiring a SR22.
If you would rather have a consultation when comparing insurance rates for high risk drivers, the insurance agencies listed below can answer your questions and help you decide which policy is best. To find a Stockton insurance agency closest to you, click the link after the list.
Farmers Insurance – Arnold Respicio
2333 W March Ln, Ste C1 – Stockton, CA 95207 – (209) 951-7739
Allstate Insurance Agent: Tim Delaney
3244 Brookside Rd #170 – Stockton, CA 95219 – (209) 943-8344
Lucchesi Jr Dan A
2522 Grand Canal Blvd # 9 – Stockton, CA 95207 – (209) 957-6515