The words “affordable” and “auto insurance” really don’t belong together, in particular when you are looking for the cheapest coverage for homeowners. Because of the high cost, let’s go over some of the factors that can significantly affect auto insurance prices, and find a few ways to cut the cost of the next policy you buy.
Establishing which companies offer the lowest-priced insurance rates for homeowners takes more work in order to find the best price.
Each auto insurance company has their own formula for establishing rates, so we will examine the most budget-friendly insurance companies in Long Beach. It’s important to understand that Long Beach, CA insurance rates are determined by lots of factors which can significantly increase or decrease the policy premium. Simply turning a year older, increasing liability limits, or getting into an accident can trigger rate changes that can make some companies much cheaper than others.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,143 |
| 2 | Wawanesa | $1,157 |
| 3 | Century National | $1,226 |
| 4 | CSAA | $1,234 |
| 5 | Nationwide | $1,250 |
| 6 | 21st Century | $1,379 |
| 7 | Grange | $1,433 |
| 8 | Mercury | $1,503 |
| 9 | GEICO | $1,529 |
| 10 | Progressive | $1,558 |
| 11 | Allstate | $1,559 |
| 12 | Allied | $1,588 |
| 13 | MetLife | $1,590 |
| 14 | The Hartford | $1,639 |
| 15 | Esurance | $1,705 |
| 16 | State Farm | $1,733 |
| 17 | Unitrin | $1,750 |
| 18 | Bristol West | $1,777 |
| 19 | Travelers | $1,806 |
| 20 | Farmers | $2,026 |
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USAA generally has some of the cheapest car insurance rates in Long Beach at around $1,143 each year. This is $508 less than the average policy premium paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide would also be considered some of the more affordable Long Beach, CA insurance companies.
In the rate table above, if you are a customer of CSAA and switched to USAA, you could realize a yearly savings of roughly $91. Insureds with Nationwide could save as much as $107 a year, and 21st Century customers might lower prices by up to $236 a year.
It’s important to note that these rates are averages across all ages of drivers and types of vehicles and are not factoring in a specific location for homeowners. So the auto insurance company that fits your age and vehicle best may not even be in the top 24 companies shown above. That affirms the importance of why you need to get auto insurance quotes using your own driver information and specific vehicle type.
The vehicle driven is a large factor when comparing low-cost insurance for homeowners. Vehicles with high performance engines, poor crash test ratings, or high incidents of liability claims will cost significantly more to insure than safer, lower-performance models. The next table presents auto insurance prices for a handful of the more affordable automobiles to insure in California.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $1,174 |
| Honda CR-V LX 2WD | $1,226 |
| Ford Focus S 4-Dr Sedan | $1,242 |
| Chevrolet Impala LS | $1,251 |
| Dodge Grand Caravan Crew | $1,292 |
| Honda Civic LX-S 4-Dr Sedan | $1,308 |
| Ford Escape XLS 4WD | $1,310 |
| Ford F-150 XLT Regular Cab 2WD | $1,346 |
| GMC Sierra SLT Crew Cab 2WD | $1,357 |
| Honda Odyssey EX W/Rear Entertainment | $1,423 |
| Volkswagen Jetta S 4-Dr Sedan | $1,451 |
| Chevrolet Equinox LS 2WD | $1,457 |
| Toyota RAV4 Limited 4WD | $1,451 |
| Toyota Prius | $1,456 |
| Ford Explorer XLT AWD | $1,470 |
| Ford Edge SEL 2WD | $1,524 |
| Ford Fusion SE 4-Dr Sedan | $1,552 |
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Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Estimates do not factor in specific Long Beach, CA garaging location which can influence price quotes significantly.
Based upon the rates shown, you can assume that vehicles like the Jeep Wrangler, Honda CR-V, and Ford Focus are some of the most budget-friendly vehicles to insure for people who own their homes.
For people who own their homes, one of the largest criteria that are looked at to determine the amount you pay each year for auto insurance is where you live in Long Beach. Areas with a lot of weather claims or more people tend to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of cheap car insurance rates.
The table below shows the most expensive cities in California for homeowners to purchase a policy in. Long Beach ranks #10 with a yearly cost of $1,562 for the average policy, which is approximately $130 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Los Angeles | $2,168 |
| 2 | Glendale | $2,142 |
| 3 | Oakland | $1,755 |
| 4 | San Francisco | $1,693 |
| 5 | Sacramento | $1,669 |
| 6 | Santa Clarita | $1,595 |
| 7 | Stockton | $1,588 |
| 8 | San Bernardino | $1,580 |
| 9 | Fontana | $1,566 |
| 10 | Long Beach | $1,562 |
| 11 | Garden Grove | $1,554 |
| 12 | Fresno | $1,517 |
| 13 | Moreno Valley | $1,506 |
| 14 | Riverside | $1,497 |
| 15 | Modesto | $1,487 |
| 16 | Anaheim | $1,474 |
| 17 | Santa Ana | $1,453 |
| 18 | Huntington Beach | $1,416 |
| 19 | Fremont | $1,403 |
| 20 | Irvine | $1,384 |
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Rate information is estimated as specific Long Beach garaging address can change rates significantly.
Safe drivers pay cheaper rates
The obvious way to enjoy the most affordable insurance prices for people who own their homes is to be an attentive driver and not have accidents or get tickets. The chart below demonstrates how citations and at-fault claims can affect car insurance rates for each age group. The price estimates are based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no other discounts are factored in.
In the previous example, the average cost of car insurance in Long Beach per year with no violations or accidents is $2,314. Factor in two speeding tickets and the average cost surges to $3,067, an increase of $754 each year. Then add one accident along with the two speeding tickets and the 12-month cost of insurance for homeowners goes up to an average of $3,817. That’s an increase of $1,504, or $125 per month, just for being a careless driver!
Insuring your vehicle with the highest-rated auto insurance company can be challenging considering how many different insurance companies sell coverage in California. The information shown next may help you pick which insurers you want to consider when shopping car insurance rates for homeowners.
These ratings are only comprised of companies that insure vehicles across America, so companies with more of a regional focus are not included in this list. To compare prices from these top-rated insurers and more, simply click here.
Top 10 Large Auto Insurers Overall in Long Beach
- USAA
- American Family
- AAA of Southern California
- State Farm
- The Hartford
- AAA Insurance
- GEICO
- The General
- Titan Insurance
- Progressive
Cost comparison with and without full coverage
Finding cheaper insurance should be important to most drivers, and one common way to pay lower rates for insurance for homeowners is to not buy full coverage. The example below illustrates the comparison of insurance rates with full coverage compared to only the California minimum liability coverage. The premiums assume no tickets, no at-fault accidents, $500 deductibles, single status, and no discounts are factored in.
As an average for all age groups, comp and collision coverage costs $2,075 per year more than just insuring for liability. Many drivers may wonder if it’s worth it to buy full coverage. There isn’t a written rule to stop buying comp and collision coverage, but there is a guideline you can use. If the annual cost of coverage is more than about 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
For example, let’s say your vehicle’s replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would get paid by your company is $4,000 after paying the physical damage deductible. If premium cost is more than $400 a year for your policy with full coverage, then you might want to think about dropping full coverage.
There are some circumstances where only buying liability is not a good plan. If you still owe money on your vehicle, you are required to maintain full coverage in order to keep the loan. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not opt for liability only.
Why you should shop around
California insurance rates are determined by lots of factors that can increase the cost of coverage. Simply having a birthday, getting divorced, or getting a couple of tickets may cause policy rate changes that can now make some companies cheaper in comparison to the competition.
In addition to those changes, insurers file new California auto insurance rates every year or even multiple times each year in order to protect their financial rating. Higher than normal claim frequency or severity may result in additional price hikes, while long-term profits can produce lower-priced Long Beach car insurance rates.
For instance, the bar chart below shows which company has the cheapest car insurance in Long Beach, CA for a 35-year-old male driver with no prior accidents, a clean driving record, and a good credit history. Based on his personal profile, USAA offers the most affordable car insurance rates in Long Beach at $1,342 a year. This is $309 less than the average rate paid by California drivers of $1,651. CSAA, Wawanesa, Nationwide, and Century National also make the list of the top five cheapest Long Beach, CA auto insurance companies.
Let’s now give the driver in the first chart some claims, a lower credit rating, and a speeding citation. Since each insurance company has a different process to set policy rates, comparing prices could now result in a different set of the cheapest Long Beach car insurance companies as shown below.
Grange now has the cheapest auto insurance in Long Beach with Progressive, GEICO, Mercury, and Allstate now being in the top five. This example demonstrates why drivers need to spend some time comparing rates to find the lowest car insurance rates for homeowners.
Rates can be determined by many different factors and change dramatically, so the most affordable company when you bought your policy may now be one of the higher cost companies.