Table of contents
How much is car insurance in Lakewood?
|Area||Average Monthly Car Insurance Premium|
You can see in the chart above that it's around $7 a month more expensive to insure your vehicle in Lakewood than it is in the rest of Washington.
Compared to the national average cost of auto coverage, Lakewood has higher rates. It's about $2 more expensive than the national average to insure your vehicle in Lakewood.
Although these are the average monthly costs for an auto insurance policy in Lakewood, that doesn't mean it's exactly what you'll pay. Insurance companies take an array of factors into consideration when determining how much to charge you to insure your vehicle. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in figuring out your monthly premium.
Don't sweat it however, we've broken down average rates for Lakewood 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 for your area, 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 would make sense that older drivers have more driving experience, right? When it comes to car insurance bills, that experience can help put some change back into your pocket. According to the table above, you can see that 18-24-year-olds pay significantly more than drivers 65 and older.
You can expect to see a decrease in your monthly premium drop about once a decade or so. Drivers in Lakewood may see their rates creep back up once they hit retirement age.
Average Car Insurance Rates by Gender
Female drivers pay, on average, slightly less than their male counterparts. In Lakewood, male drivers pay about $13 more per month. Based on the chart above, you can see that female drivers pay around $74 on average, while male drivers typically pay $87 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary wildly. Drivers with clean records will pay significantly lower rates than those with accidents or violations. In Lakewood, having a single accident on your record will usually get you rates around $104 a month. In addition, drivers with one ticket can expect to pay around $124 a month on average.
Regardless of where you live, accidents, tickets, and other driving infractions can greatly increase your premium. So, if you want the cheapest rates, drive carefully and try to maintain a clean driving record.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$42|
|15 Years or Older||$78|
In Lakewood, the cheapest vehicles to insure are by and large SUVs, with drivers paying around $75 per month for insurance coverage.
Car owners will see rates of about $84, while truck and van owners usually pay around $77 a month.
You may also see different rates based on the age of your vehicle. Generally, newer vehicles are going to cost the most to insure. However, once your car is around 5 years old, you may start to see your monthly premium decrease. The most expensive vehicles to insure in Lakewood are vehicles six-to-seven years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$87|
Generally, those who are currently married will pay slightly less for insurance coverage. This oftentimes is a result of owning multiple vehicles that are on the same policy, something many companies extend special discounts for.
According to the table above, the difference in rates based on relationship status in Lakewood can be as much as $18 a month, so it's worth taking into consideration.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$103|
One other element taken into consideration is your living situation. If you rent your home or apartment, expect to pay around $4 less than those who own their own home in Lakewood. Those who live with their parents, however, 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 overall costs.
Car Insurance Companies in Lakewood, WA
Recent trends in car insurance for Lakewood 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 choosing your car insurance policy.
In Lakewood, car insurance rates increased from 2016-2017, before steadying out in 2018. Rates went up again, hitting a high of $97 in 2020, and finished down at $71 in 2021.
How does Lakewood compare to neighboring areas?
Why are car insurance rates in Lakewood different from other areas?
When considering how much to charge for coverage, car insurance companies will review many factors. While we've discussed the ones that affect your personal policy, others are based around where you live. These include things like:
- Amount of drivers in the community
- Access to off-street parking
- Crime levels
- Road Safety (total number of local car accidents)
- Community laws
It's good to be aware of these factors (even though you may not be able to do much to influence them) as you shop for a new policy or consider relocating. 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 Lakewood?
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 will handle the heavy lifting for you. Just punch in your ZIP below, respond to a few questions, and you'll be comparing the cheapest quotes from the many car insurance companies offering coverage 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 like your gender and age, but also factors like your address, credit score, driving record and marital status, as well as your vehicle's year and make and model.
Why is the cost of car insurance in Lakewood 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 Lakewood?
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 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. 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 Lakewood or just curious about rates in your area, why not take 10 minutes to see if Compare.com can save you money?