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How much is car insurance in Lakewood?
|Area||Average Monthly Car Insurance Premium|
As you can tell by looking at the chart above, car insurance rates in Lakewood are about the same as the rest of California.
Compared to the rest of the country, auto insurance in Lakewood is more affordable. It's about $22 cheaper than the national average to insure your vehicle in Lakewood.
Bear in mind that while these are the average car insurance rates for Lakewood, you could end up paying something different. There are a variety of factors that car insurance companies assess when determining how much to charge you to get your vehicle insured. Variables like age, gender, vehicle make and model, driving record, and even credit score (depending on your area) can all be taken into consideration when determining the bill you'll see each month.
But don't worry, we've broken down average rates for Lakewood residents so that you can get a more accurate idea of what you might pay. And if you're not sure that you're paying the lowest option, simply enter your ZIP Code below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
It makes sense that older drivers would have more experience behind the wheel. It also makes sense that the more experienced of a driver you are, the safer you are. According to the table above, you can see that 18-24-year-olds pay a lot more than someone who is at retirement age.
Every ten years or so you can expect to see a decline in your monthly premium. Having said that, once you approach retirement age your rates may begin to go back up in Lakewood.
Average Car Insurance Rates by Gender
Although women typically pay less than men do for auto insurance, this is not the case in Lakewood, where female drivers pay around $7 more per month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Rates can change drastically depending on your driving record. Those with clean records will obviously pay less than those with infractions. Drivers in Lakewood with a single accident on their record will usually see rates around $65 a month. Similarly, drivers with one ticket will typically pay around $88 on average.
Accidents, tickets, and other driving infractions can really cost you when it comes to your monthly rate. Remember, cheap car insurance rates are dependent on driving safely and keeping your record clean.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$58|
|15 Years or Older||$52|
According to the first table above, trucks and vans are typically the cheapest vehicles to insure in Lakewood, with drivers paying around $53 per month for insurance coverage.
Car owners will see a monthly premium of about $58, while SUV owners by and large pay around $59 a month.
In addition to vehicle type, you can also expect to see slightly different rates depending on your vehicle's age. Generally, newer vehicles are going to be the most expensive to insure. However, once your car is close to 5 years old, you may start to see your monthly premium decrease. In Lakewood, the most expensive vehicles to insure are vehicles four-to-five years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$61|
Generally speaking, car insurance is slightly cheaper for married policyholders. This usually boils down to owners having multiple vehicles on the same policy, something that will often get you a discount.
The cost of auto insurance in Lakewood reflects the national trend of married couples paying less than single drivers to insure their vehicles, to the tune of about $12 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$83|
Another factor that comes into play is your living situation. Renters can expect to pay around $1 a month more than homeowners in Lakewood. But if you live with your parents, you can expect to pay a lot 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 car insurance costs.
Car Insurance Companies in Lakewood, CA
Recent trends in car insurance for Lakewood 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 Lakewood rose from 2016-2017, when they hit a high of $68, but started to turn downward from 2018-2020. They finished up in 2021, at $56 per month.
How does Lakewood compare to neighboring areas?
Why are car insurance rates in Lakewood different from other areas?
There are many factors car insurance companies take into consideration when choosing how much to charge for coverage. The price of your insurance policy will depend largely on where you live and drive and will be influenced by things such as:
- Community laws
- Number of car accidents
- Area crime rates
- Number of drivers in the area
- Access to off-street parking
You'll be hard pressed to change any of these factors yourself, but they're worth considering when thinking about the purchase of a new policy or a move. 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 Lakewood?
Familiarizing yourself with patterns in the average costs of drivers like you will give you a leg up in conversations with insurance companies. Ultimately, the only way to know exactly what your rate will be is by requesting a quote from those car insurance companies.
But wait! Compare.com does all of that work for you. Enter your ZIP below, answer a few questions on you and your car, and you'll be comparing the cheapest quotes from a bulk of the car insurance companies offering policies in Lakewood.
Lakewood Insurance FAQs
What factors affect car insurance quotes in Lakewood?
Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your gender and age but also factors like your vehicle's year, make and model, as well as your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Lakewood different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like parking situations, crime rates, and local laws -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Lakewood?
Since the factors that car insurance companies take into consideration when calculating the rate you might pay differ from person to person, there is no one insurance company that will offer the cheapest rate to everybody. Things like your driving record, the number of drivers on the policy, and vehicle make and model, plus a number of others, are all taken into account. Because of this, 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 Lakewood?
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 time, regardless of how long is left on your current policy. So, if you've recently moved to Lakewood or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.