The words “low-priced” and “auto insurance” really shouldn’t be used together, in particular when you are looking for the best insurance rates for electric cars. Because it’s not cheap, let’s go over some things that have an effect on car insurance prices, and see if we can help you reduce the price of the next policy you buy.
The vehicle that needs insurance is one of the largest considerations when consumers are trying to find cheaper insurance for electric cars. Vehicles with lots of horsepower, a lack of modern safety features, or a high likelihood of having liability claims will cost quite a bit more to insure than more modest models. The table below estimates car insurance costs for a number of the most affordable automobiles to buy insurance for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $1,094 |
| Hyundai Elantra SE Touring Station Wagon | $1,185 |
| Honda Accord EX-L 4-Dr Sedan | $1,194 |
| Dodge Grand Caravan SE | $1,225 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,233 |
| Ford Focus S 4-Dr Sedan | $1,268 |
| GMC Sierra SLE Regular Cab 2WD | $1,291 |
| Toyota RAV4 Limited 2WD | $1,298 |
| Ford Explorer Limited 2WD | $1,317 |
| Ford Escape XLS 4WD | $1,341 |
| Toyota Camry SE | $1,360 |
| Ford Edge SE 2WD | $1,377 |
| Chevrolet Silverado LT Regular Cab 2WD | $1,386 |
| Nissan Rogue SL 2WD | $1,394 |
| Volkswagen Jetta SE 4-Dr Sedan | $1,386 |
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Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Rates do not factor in specific garaging location which can decrease or increase rates considerably.
Looking at the data, you can expect models like the Honda CR-V, Hyundai Elantra, and Honda Accord will definitely be a few of the less-costly vehicles to insure for eco-friendly vehicles.
One of the many components that determine the annual cost of car insurance is where you live in Stockton. Larger areas tend to have higher auto insurance costs, whereas more rural areas tend to receive slightly lower rates.
The following table rates the highest-priced places in California for electric cars to buy auto insurance in. Stockton makes the list at #7 having an annual price of $1,588 for car insurance, which is about $132 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Glendale | $2,121 |
| 2 | Los Angeles | $2,083 |
| 3 | San Francisco | $1,711 |
| 4 | Oakland | $1,704 |
| 5 | Sacramento | $1,652 |
| 6 | Santa Clarita | $1,595 |
| 7 | Stockton | $1,588 |
| 8 | San Bernardino | $1,580 |
| 9 | Long Beach | $1,578 |
| 10 | Garden Grove | $1,554 |
| 11 | Moreno Valley | $1,551 |
| 12 | Fontana | $1,535 |
| 13 | Anaheim | $1,488 |
| 14 | Modesto | $1,487 |
| 15 | Riverside | $1,482 |
| 16 | Fresno | $1,472 |
| 17 | Santa Ana | $1,439 |
| 18 | Bakersfield | $1,394 |
| 19 | San Diego | $1,381 |
| 20 | San Jose | $1,381 |
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Table data uses comparative as the specific garaging location can change coverage rates considerably.
Finding cheap insurance is not easy, and determining which company offers the cheapest car insurance rates for electric cars will require even more perseverance. Each auto insurance company uses a slightly different approach to set premium rates, so let’s take a look at the most budget-friendly car insurance companies in Stockton, CA.
It’s important that you understand Stockton, CA car insurance rates are calculated based on many things that will increase or decrease the cost of your policy. Simply having a birthday, getting married, or getting a reckless driving citation can produce rate changes that can cause some rates to be cheaper than before.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,109 |
| 2 | Wawanesa | $1,146 |
| 3 | Nationwide | $1,213 |
| 4 | Century National | $1,214 |
| 5 | CSAA | $1,234 |
| 6 | 21st Century | $1,366 |
| 7 | Grange | $1,447 |
| 8 | Progressive | $1,496 |
| 9 | Mercury | $1,503 |
| 10 | GEICO | $1,529 |
| 11 | Allstate | $1,559 |
| 12 | Allied | $1,588 |
| 13 | MetLife | $1,590 |
| 14 | The Hartford | $1,591 |
| 15 | Unitrin | $1,682 |
| 16 | Esurance | $1,705 |
| 17 | State Farm | $1,750 |
| 18 | Bristol West | $1,795 |
| 19 | Travelers | $1,806 |
| 20 | Farmers | $1,966 |
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USAA has some of the lowest car insurance rates in Stockton at around $1,109 a year. This is $542 less than the average price paid by California drivers of $1,651. Wawanesa, Nationwide, Century National, and CSAA are also some of the best Stockton, CA auto insurance companies.
In the rate table above, if you are insured with Century National and switched to USAA, you may realize an annual savings of about $105. Policyholders with CSAA could save as much as $125 a year, and 21st Century policyholders might realize rate reductions of up to $257 a year.
To find the cheapest rates for your vehicle, click here to start a quote or visit any of the companies below.
Be aware that those policy prices are averaged for all drivers and vehicles and are not factoring in a specific zip code for electric cars. So the company that is best suited for you may not even be in the list above. That illustrates why you need to get car insurance quotes using your own driver data and vehicle information.
The illustration below illustrates how choosing a deductible can impact yearly insurance costs when researching cheap insurance for electric cars. The price estimates are based on a single female driver, comp and collision included, and no discounts are factored in.
A 30-year-old driver could cut expenses by $482 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $724 by choosing a $1,000 deductible. Even younger drivers, like the 20-year-old example, could shave $1,068 or more by using higher deductibles when buying full coverage.
When using a larger deductible, it is essential to have plenty of money set aside to be able to pay the extra out-of-pocket expense that comes with higher deductibles.
Full coverage rates compared to liability only
Reducing the cost of car insurance is important to the majority of drivers, and one good way to pay less for insurance for electric cars is to not pay for full coverage. The information below visualizes the comparison of auto insurance costs with and without physical damage coverage. The data assumes no violations or accidents, $250 deductibles, single marital status, and no discounts are applied.
As an overall average, full coverage costs an additional $2,314 per year more than just buying liability insurance. That is a large expense which might make you wonder if physical damage coverage is worth the money. There is no set rule to eliminate full coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
There are some scenarios where eliminating full coverage is not financially feasible. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not consider dropping full coverage.
Last year’s bargain might be this year’s rip off
Stockton, CA car insurance rates are impacted by many factors that control the policy price. Improving your credit rating, buying a new vehicle, or getting a speeding ticket can trigger changes in premium resulting in some rates now being affordable when they were higher priced. In addition to those changes, auto insurance companies amend pricing every year or even multiple times each year in order to maintain liquidity for claims. Heavy losses can result in additional premium costs, while lower claim levels can produce more affordable Stockton car insurance rates.
To illustrate this point, the data below shows the cheapest car insurance in Stockton, CA for a 35-year-old male driver with a clean driving record, no accidents, and great credit. If we estimate rates based on his current risk profile, Wawanesa has the lowest car insurance rates in Stockton at $1,360 a year. This is $291 less than the average price paid by California drivers of $1,651. USAA, CSAA, Century National, and Nationwide round out the rest of the top five cheapest Stockton, CA auto insurance companies.
The next chart shows rates after we give the driver in the first example an accident claim, a little lower credit rating, and a couple of points charged on his driving record. Since each insurance company has a unique approach to establish rates, analyzing rates may now present a different set of cheap Stockton auto insurance companies as shown below.
Grange now has the lowest price in Stockton, CA with Mercury, Progressive, Allstate, and GEICO also having competitive pricing. This illustrates why consumers need to shop around when trying to find the most budget-friendly auto insurance rates for electric cars.
Insurance prices consist of many risk factors and change dramatically, so the most economical company two years ago may now be quite expensive.
How to find low-cost insurance for electric cars
Lowering your rates is not difficult, and here are some of the recommended money-saving ideas that can help you locate cheaper coverage.
- Choose a safer vehicle and pay lower rates
- Drivers with good credit ratings often pay less
- Drop full coverage on older vehicles
- Buying home and auto together can help save money
- Avoid at-fault accidents and claims
- Keep rates low by comparing prices once a year
That final tip is extremely critical, as was discussed in the prior information. Coverage prices fluctuate considerably, so drivers shouldn’t be resistant to switch to a new company if a lower-cost policy is available. Loyalty to a specific company is fine, but it isn’t a good idea if that loyalty ends up costing thousands of dollars over the life of your policy. It only takes a couple minutes to compare rates to find cheaper insurance for electric cars in Stockton.