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WalletHub Study: California is the 13th Most Expensive State for Car Insurance

With Presidents’ Day approaching and with COVID-19 causing drastic changes in people’s driving habits and personal finances, WalletHub today released a new report on the States with the Cheapest & Most Expensive Car Insurance, along with a review of California’s Best Cheap Car Insurance Companies (plus accompanying videos and audio files).

Based on WalletHub’s analysis, California was determined to be the 13th most expensive state for car insurance in 2021. You can find some additional highlights below.

Top 5 Cheap Car Insurance Companies in California:

  • Grange Insurance
  • Wawanesa
  • USAA
  • Travelers
  • CSAA Insurance

Other Key Findings:

  • Full coverage car insurance costs 198% more than minimum coverage in California, on average.
  • 16-year-olds pay 246% more for car insurance than 55-year-olds in California, on average.
  • Drivers with a DUI pay 144% more for car insurance than drivers with a clean record in California, on average.
  • 61 million Americans have reduced their car insurance coverage due to COVID-19.
  • 105 million Americans say they’re not getting their money’s worth from their car insurance.
  • 55 million Americans have second thoughts about owning a car due to COVID-19.

WalletHub Q&A

How has COVID-19 affected people’s car insurance choices?

“COVID-19 has had a significant impact on people’s car insurance choices, considering that 61 million Americans have already reduced their car insurance coverage because of the pandemic, according to WalletHub’s new car insurance survey,” said Jill Gonzalez, WalletHub analyst. “This trend of reducing car insurance coverage seems likely to continue through 2021, given current sentiment. Roughly 105 million say they’re not getting their money’s worth from their car insurance right now.”

What’s the best way to save money on car insurance?

“The best way to save money on car insurance is to compare quotes from the cheapest car insurance companies and choose whichever provider offers the lowest rates. The best cheap car insurance companies in California right now are Grange Insurance, Wawanesa and USAA, according to WalletHub’s editors, so they’re a good place to start,” said Jill Gonzalez, WalletHub analyst. “In addition to regularly comparing quotes and switching insurers when a good deal is available, drivers should make sure to take full advantage of car insurance discounts and, most importantly, drive safely. Accidents and moving violations can quickly result in increased insurance costs.”

What’s a common car insurance mistake that drivers should avoid?

“One common car insurance mistake that drivers should avoid is failing to even consider switching insurers. More than 4 in 10 people think that switching car insurance companies will be hard, according to WalletHub’s new survey, but it can actually be pretty straightforward and produce significant savings. The difference between the cheapest and most expensive car insurance companies in California is about $1,177 per year,” said Jill Gonzalez, WalletHub analyst.

This article was released by WalletHub.