How Much is Auto Insurance for Low Income Drivers in Fresno?

Comparing quotes for cheap car insurance is easier said than done, and finding out which company quotes the best car insurance rates for low income drivers requires even more rate comparisons. Each auto insurance company has a proprietary method for determining prices, so let’s take a look at the most competitive car insurance companies in Fresno.

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Rankings for the cheapest California auto insurance companies
Rank Company Cost Per Year
1 USAA $1,109
2 Century National $1,178
3 CSAA $1,186
4 Wawanesa $1,192
5 Nationwide $1,263
6 21st Century $1,325
7 Grange $1,433
8 Progressive $1,496
9 Allstate $1,497
10 Mercury $1,533
11 GEICO $1,575
12 Allied $1,603
13 MetLife $1,606
14 The Hartford $1,639
15 State Farm $1,699
16 Unitrin $1,733
17 Esurance $1,739
18 Bristol West $1,795
19 Travelers $1,842
20 Farmers $1,966
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USAA may have some of the lowest car insurance rates in Fresno at around $1,109 annually. Century National, CSAA, Wawanesa, and Nationwide also qualify as some of the more affordable Fresno, CA insurance companies.

As shown in the table above, if you currently buy coverage from Century National and switched to USAA, you may realize an annual savings of upwards of $69. California drivers with CSAA might save as much as $77 a year, and Wawanesa customers might reduce prices by as much as $83 a year.

It’s important to note that these rates are averaged across all types of drivers and the different vehicles they drive and do not factor in an exact location for low income drivers. So the car insurance company that fits you best may not even be in the top 24 companies in the list above. That helps illustrate why you need to get rate quotes from many companies using your own personal information and vehicle type.

The make and model of vehicle driven is one of the main factors when comparing quotes for economical insurance for low income drivers. Vehicles with limited speed and performance, good crash test ratings, or a low likelihood of having liability claims will cost quite a bit less to insure than high performance models.

The next list ranks coverage rates for a selection of the more affordable automobiles to insure in California.

Cheapest Vehicles to Insure in Fresno, CA
Vehicle Make and Model Estimated Cost for Full Coverage
Ford Escape XLS 4WD $1,061
Honda CR-V EX-L 4WD $1,085
Ford Focus S 4-Dr Sedan $1,232
Honda Odyssey EX W/Rear Entertainment $1,242
Toyota RAV4 4WD $1,255
Toyota Camry LE $1,261
Honda Accord EX-L 4-Dr Sedan $1,321
Nissan Rogue S AWD $1,346
Jeep Wrangler Sport 4WD 2-Dr $1,351
Toyota Prius $1,346
Chevrolet Silverado LT Crew Cab 4WD $1,352
Ford F-150 STX Super Cab 4WD $1,391
Ford Fusion SEL AWD 4-Dr Sedan $1,435
Kia Optima SX $1,438
Dodge Grand Caravan SXT $1,466
Ford Explorer Limited AWD $1,475
Chevrolet Impala LS $1,510
Toyota Corolla XLE $1,515
Toyota Tacoma X-Runner 2WD $1,521
Ford Edge Limited AWD $1,515
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Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Information does not factor in vehicle location which can impact coverage prices significantly.

Based upon these rates, you can figure that cars like the Ford Escape, Honda CR-V, Ford Focus, and Honda Odyssey are going to be some of the more affordable vehicles to insure for poor drivers.

The chart below shows how choosing a deductible can affect insurance costs when trying to find cheap insurance for low income drivers. Data assumes a married female driver, comprehensive and collision coverage, and no discounts are taken into consideration.

The data above shows that a 40-year-old driver could pocket $408 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $614 by selecting a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, could potentially save up to $1,008 each year just by choosing higher deductibles when buying full coverage.

If you do raise deductibles, it is a good idea to have enough funds in savings to offset the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.

Get discounts on Fresno car insurance rates

Save on car insurance for poor drivers in FresnoInsurers that offer coverage for low income drivers may also provide price discounts that can reduce rates by 35% or more if you meet eligibility requirements. A few popular companies and a selection of discounts can be read below.

The information below visualizes the comparison of insurance costs with and without some available policy discounts. The rate quotes are based on a female driver, no violations or accidents, California state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with accident-free, homeowner, marriage, multiple policy, vehicle safety, and anti-theft discounts applied. When these discounts are applied, the average savings per year on car insurance for low income drivers is 28% or $738.

Cost difference between full coverage and liability

Reducing premiums for car insurance is the goal of most people, and one of the quickest ways to pay less for insurance for low income drivers is to not pay for full coverage. The example below visualizes the comparison of annual premium costs when comparing full coverage to liability only. The premium estimates are based on no driving violations, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are factored in.

Averaged out for all age groups, physical damage insurance costs an extra $2,314 per year over liability only. That is a significant amount which raises the question if physical damage coverage is worth the money. There is no clear-cut rule that is best for determining when to drop physical damage insurance, but there is a general guideline you can use. If the annual cost of having full coverage is 10% or more of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s assume your vehicle’s settlement value is $11,500 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $10,500 after paying the physical damage deductible. If it’s costing in excess of $1,050 a year for comprehensive and collision coverage, then it might be time to buy liability only.

There are a few cases where only buying liability is not advised. If you haven’t paid off your loan, you have to maintain full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not consider dropping full coverage.