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How much is car insurance in Monterey Park?
|Area||Average Monthly Car Insurance Premium|
Auto insurance policies in Monterey Park are about $8 a month more expensive than the rest of California.
However, car insurance rates in Monterey Park are often favorable when viewed against the rest of the country. It's about $16 cheaper than the national average to insure your vehicle in Monterey Park.
Bear in mind that while these rates represent the expected monthly payments for Monterey Park drivers, it doesn't mean that's what you'll pay. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. Your monthly premium is calculated based on things like age, gender, vehicle make and model, driving record, and in some cases, credit score.
Don't sweat it however, we've broken down average rates for Monterey Park residents based on several different factors so that you can get a more accurate idea of your policy's monthly premium. If you're not certain that you're getting the cheapest rate for your area, just enter your ZIP below to find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
Generally, the older you are the more experienced you are behind the wheel, right? That experience can turn into some real savings when it comes to car insurance bills. As you can see, 18-24-year-olds pay a lot 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, however, you may see your rates begin to go back up in Monterey Park.
Average Car Insurance Rates by Gender
Car insurance rates for female drivers are usually cheaper than those for male drivers. In Monterey Park, although men do pay slightly less on their monthly auto insurance coverage, the price is about the same for either group.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|1 Ticket||Not Enough Data|
|Multiple Tickets||Not Enough Data|
Your rates can change quite drastically depending on your driving record. Drivers with clean records will pay much lower rates than those with accidents or violations. In Monterey Park, a driving record with one accident will usually get you a rate around $67 a month.
Accidents, tickets, and other driving infractions can really cost you when it comes to your monthly rate. In order to minimize your monthly rate, practice safe driving habits and keep your record clean.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$58|
|15 Years or Older||$72|
In terms of affordable coverage, the cheapest vehicles to insure in Monterey Park are typically trucks and vans, at $55 per month.
Car owners, on the other hand, usually pay around $63 a month, while SUV drivers can expect to pay about $77 per month for insurance coverage.
In addition to vehicle type, you can also expect to see slightly different rates based 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 Monterey Park, the most expensive vehicles to insure are vehicles six-to-seven years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$69|
Overall, those who are currently married will pay slightly less for car insurance. This occurs because insurance companies commonly extend special discounts to policyholders with multiple vehicles that are on the same policy.
On a national scale, single drivers typically pay more than married couples do for auto insurance. Monterey Park is no exception, with the difference totaling to around $17 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$101|
One other element taken into consideration is your housing status. If you rent your home or apartment, expect to pay around $8 a month more than if you own your own home in Monterey Park. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.
That said, if you bundle your homeowners or rental insurance policy with your auto insurance, many companies will offer you a discount to make up for it and reduce your car insurance premiums.
Car Insurance Companies in Monterey Park, CA
Recent trends in car insurance for Monterey Park drivers
The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area when selecting an auto insurance policy.
The rates for car insurance in Monterey Park had been increasing from 2016-2017, when they reached a high of $97. This shifted in 2018, when insurance rates began to decrease. They hit a low of $53 in 2020, and finished up in 2021, at $57 a month.
How does Monterey Park compare to neighboring areas?
Why are car insurance rates in Monterey Park different from other areas?
There are many 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:
- Total number of drivers
- Number of car accidents
- Area regulations
- Regional crime rates
- Off-street parking availability
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. Different cities and towns will each have different rates, so guides like these are a handy way to learn more.
How can I find the cheapest car insurance in Monterey Park?
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 Code below, answer a few questions about your driving profile, and you'll be comparing the cheapest quotes from many of the car insurance companies offering plans in Monterey Park.
Monterey Park Insurance FAQs
What factors affect car insurance quotes in Monterey Park?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your age and gender, but also factors like your vehicle's year, make and model, plus your address, credit score, marital status, and driving record.
Why is the cost of car insurance in Monterey Park different from other neighboring cities?
Crime rates, parking situations, and local laws -- all of which can change from city to city -- play a large role in the rates that car insurance companies may charge for coverage.
Which car insurance company will offer me the cheapest rate in Monterey Park?
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 Monterey Park?
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. 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 Monterey Park or just curious about rates in your area, why not take 10 minutes to see if Compare.com can save you money?