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How much is car insurance in Lake Elsinore?
|Area||Average Monthly Car Insurance Premium|
Based on the above chart, auto insurance policies in Lake Elsinore are about $4 a month cheaper than in the rest of California.
Compared to the national average cost of auto insurance coverage, Lake Elsinore has lower rates. Auto insurance coverage in Lake Elsinore is about $29 cheaper than it is for the rest of the United States.
Although these are the average monthly costs for an auto insurance policy in Lake Elsinore, that doesn't mean it's exactly what you'll pay. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. The monthly premium you'll see each month is calculated based on things like age, gender, vehicle make and model, driving record, and in some cases, credit score.
But worry not, we've done the heavy lifting and broken down the average rate for Lake Elsinore to help you understand what exactly you might be asked to pay. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP Code below to learn more about rates in your area!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
The more time you have behind the wheel, the more experienced of a driver you should be. When it comes to car insurance premiums, that experience can really pay off. As you can see, 18-24-year-olds pay significantly more than drivers 65 and older.
For every 10 years, you can expect to see a drop in your monthly premium. Once you hit retirement age, however, you may see your rates creep back up a bit in Lake Elsinore.
Average Car Insurance Rates by Gender
Male drivers pay, on average. slightly more than female drivers for auto insurance. While female drivers pay slightly less than male drivers on their monthly auto coverage, the difference in Lake Elsinore is only about $2 per month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary quite a lot. Drivers with clean records will pay significantly lower rates than those with accidents or violations. In Lake Elsinore, a driving record with one accident will usually get you a rate around $58 a month. Likewise, drivers with one ticket on their record will be looking at an average rate of around $65.
Regardless of where you live, accidents, tickets, and other driving infractions can drive your monthly bill way up. In order to keep your monthly bill down and get the cheapest car insurance possible, keep your record clean and drive safely.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$70|
|15 Years or Older||$49|
According to the first table above, the cheapest vehicles to insure in Lake Elsinore are typically trucks and vans, at $49 per month.
Car owners can expect to pay an average of around $53 a month for their policy, while SUVs usually cost around $51 a month to insure.
In addition to vehicle type, you can also expect to see slightly different rates based on how old your vehicle is. Generally, newer vehicles are going to cost the most to insure. However, once your car is close to 5 years old, you may start to see your monthly premium drop back down. In Lake Elsinore, the most expensive vehicles to insure are vehicles less than one year old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$56|
Overall, car insurance is slightly cheaper for married policyholders. This occurs because insurance companies commonly award special discounts to policyholders with multiple vehicles that are on the same policy.
At a national level, single drivers usually pay more than married couples do for auto insurance. Lake Elsinore follows that pattern, with the difference totaling to around $14 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$63|
Your housing situation is another component of how insurance companies calculate your monthly rate. If you rent your home or apartment, expect to pay around $3 a month more than if you own your own home in Lake Elsinore. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.
Many companies, however, will offer you a discount to bundle your home or rental insurance with your auto insurance policy, which can help reduce your overall costs.
Car Insurance Companies in Lake Elsinore, CA
Recent trends in car insurance for Lake Elsinore drivers
Since average rates are constantly changing, it's a smart move to research the local trends in your area before shopping for coverage.
Auto insurance rates in Lake Elsinore decreased from 2017-2018, before steadying out in 2019. They dropped again recently, hitting a low of $50 in 2022.
How does Lake Elsinore compare to neighboring areas?
Why are car insurance rates in Lake Elsinore different from other areas?
Car insurance companies will take into account a lot of factors when they're deciding how much to charge for a policy. While we mentioned the factors that affect your personal policy, others are based around where you live. These include things like:
- Local crime rates
- Number of car accidents
- Local regulations
- Total number of drivers in the community
- Availability of off-street parking
An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Lake Elsinore?
While getting familiar with what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
Luckily, Compare.com does all of that work for you. Enter your ZIP below, answer a few questions, and you'll be comparing the cheapest quotes from many of the car insurance companies offering plans in Lake Elsinore.
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Lake Elsinore Insurance FAQs
What factors affect car insurance quotes in Lake Elsinore?
Auto insurance companies take a wide array of factors into consideration when calculating your monthly payment. These include things like your vehicle's year, make and model, your gender and age, as well as your address, credit score, driving record, and marital status.
Why is the cost of car insurance in Lake Elsinore different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like local laws, parking situations, and crime rates -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Lake Elsinore?
There isn't one company that can guarantee the cheapest rate to everybody, since the rates they charge for coverage are calculated based off of factors that can vary from person to person, such as vehicle make and model, driving record, and number of drivers on the policy. By using sites like Compare.com to compare multiple quotes simultaneously, you can rest assured that you're getting the best price available.
Do I need to change my insurance if I move to Lake Elsinore?
Any time you experience a major life event, whether it's moving to a new area, getting married, finding a new job, or other notable events, it's always a good idea to re-evaluate your current insurance. Certain companies offer cheaper insurance in certain cities, so even if you were getting the cheapest rate at your old address, it doesn't mean it'll still be the cheapest at your new home. That's why it's always good to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No, you can switch companies at any point, no matter how much time is left on your current policy. If you're thinking about moving to Lake Elsinore or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.
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