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How much is car insurance in Lake Forest?
|Area||Average Monthly Car Insurance Premium|
According to the chart above, the rates you'll pay for coverage in Lake Forest are about the same as what you would pay anywhere else in California.
Likewise, the expected monthly payments for an auto insurance policy in Lake Forest are below the national average. It's about $27 cheaper to insure your vehicle in Lake Forest compared to the average rate for the United States as a whole.
While these are the average monthly costs for auto insurance coverage in Lake Forest, you could end up paying something different. 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 don't worry, we've broken down the average rate for Lake Forest residents based on several different factors so that you can get a more accurate idea of your policy's monthly premium. 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|
It's pretty safe to assume that the older you are, the longer you've been driving, right? That experience can lead to some serious savings when it comes to car insurance rates. As you can see, 18-24-year-olds pay significantly more than drivers of retirement age.
You can expect to see your monthly premium drop every 10 years or so. Having said that, once you approach retirement age your rates may creep back up in Lake Forest.
Average Car Insurance Rates by Gender
Although female drivers pay, on average, less than male drivers for car insurance coverage, Lake Forest actually goes against the grain. While female drivers pay $58 per month for insurance coverage, males only pay about $52.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. Those with clean records will see the most affordable rates, whereas even a single accident or infraction can cost you. Drivers in Lake Forest with a single accident on their record will usually see rates around $56 a month. In addition, drivers with a single ticket on their record can expect to pay around $68 a month on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$66|
|15 Years or Older||$51|
In terms of affordable coverage, the cheapest vehicles to insure in Lake Forest are usually trucks and vans, at $45 per month.
SUV drivers will see rates of about $59 for car insurance, while car owners by and large pay around $54 a month.
In addition to vehicle type, you can also expect to see slightly different rates depending on the age of your vehicle. Generally, newer vehicles are going to be the most expensive to insure. However, your rates may start to decrease if your car is a few years old. In Lake Forest, vehicles less than one year old are the most expensive to insure.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$57|
Generally speaking, married policyholders will pay slightly less to insure their car. This usually happens because companies will offer special discounts to policyholders with multiple vehicles that are on the same policy.
The difference in rates based on relationship status in Lake Forest can be as much as $7 a month, so it's worth keeping that in mind.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$62|
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 $6 a month more than if you own your own home in Lake Forest. But those who live at home with their parents can expect to pay significantly more.
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 average premiums.
Car Insurance Companies in Lake Forest, CA
Recent trends in car insurance for Lake Forest drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending before shopping for coverage.
In Lake Forest, the rates for car insurance declined from 2017-2020, before steadying out in 2021. Policy premiums finished down in 2022, at $48 per month
How does Lake Forest compare to neighboring areas?
Why are car insurance rates in Lake Forest different from other areas?
There are a number of factors car insurance companies take into consideration when deciding how much to charge for a monthly rate. While we've discussed the ones that affect your personal policy, others are based around where you live and drive. These include things like:
- Amount of drivers in the region
- Area crime rates
- Local regulations
- Access to off-street parking
- Road safety
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Knowing that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your particular neighborhood.
How can I find the cheapest car insurance in Lake Forest?
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.
But wait! Compare.com does all of that work for you. Just punch in your ZIP below, answer a few questions, and you'll be comparing the cheapest quotes from numerous car insurance companies offering auto coverage in Lake Forest.
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Lake Forest Insurance FAQs
What factors affect car insurance quotes in Lake Forest?
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 credit score, driving record, marital status, and address.
Why is the cost of car insurance in Lake Forest different from other neighboring cities?
Auto insurance companies consider regional factors, such as crime rates, local laws, and parking situations into account when calculating the monthly rate for coverage. Since these can all vary from city to city the rates you may see can differ from neighboring areas.
Which car insurance company will offer me the cheapest rate in Lake Forest?
No one insurance company is guaranteed to offer the cheapest rate across the board. Since companies base their rates on factors that differ from person to person, such as driving record, number of drivers on the policy, vehicle make and model, and many more, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Lake Forest?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart idea 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. In fact, you can swap companies at any point, regardless of how much time is left on your current coverage. So, whether you're moving to Lake Forest or just curious about rates in your area, why not take 10 minutes to see if Compare.com can save you money?
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