Car insurance calculators provide a quick way to estimate your costs, but in order to receive an accurate picture you need to enter personal details. MoneyGeek’s free California car insurance calculator uses various individual rating factors – like adding a teen driver and driving record history as well as coverage levels – in its calculations.
California insurance rates can differ dramatically based on factors like location, population density and crime rate. Insurance companies take these variables into account to assign you a “risk score,” which determines your premium payment. Other rating factors include your age, gender and location as well as what car make/model you drive and the miles driven annually as well as options such as comprehensive or collision coverage selections plus your driving record status.
State minimum coverage limits typically provide protection of $15,000 per person and $30,000 per accident in bodily injury liability; it is wise to increase these amounts for maximum protection in case of an unfortunate collision. You should consider your risk tolerance, such as how much savings are available to cover costly repair or replacement vehicle costs; additionally you may wish to include uninsured/underinsured motorist coverage or umbrella policies as additional options in your policy.
Your credit history can have an enormous effect on the cost of car insurance premiums. Indeed, some insurers use your score as one major determinant. However, some states prohibit this practice.
There are various ways of saving on auto insurance in the US, with shopping around for quotes from different providers being one such approach to lower premiums and compare discounts offered by providers being another effective method for cutting costs on car coverage.
Usage-based car insurance policies, commonly referred to as pay-per-mile or mileage-based coverage, can be found across most states. California may make this more challenging as many telematics devices used for monitoring speeding, braking and acceleration have been banned by legislators in that state.
With nationwide rates rising rapidly, California drivers are finding it increasingly difficult to obtain affordable auto insurance policies. Some insurance providers allege the state insurance department isn’t quickly enough approving rates that match rising costs; other sources suggest other obstacles make coverage harder than it once was. Either way, insurance industry members say consumers can contact CDI for help and Jazmin Ortega (an CDI spokesperson) told Money that several rate increase applications have already been submitted by CDI representatives for approval.