Seeking Recommendations for Car Insurance in SoCal
I’ve been a loyal State Farm customer for 30 years, but I’m starting to lose patience with their constant rate hikes. They recently dropped my renters insurance due to my location, and now I’m facing a shocking $670 PER MONTH premium for my new 2024 S5 (up from my previous 2020 X5). I have a $1,000 deductible for both comprehensive and collision coverage. At 48 years old, with no accidents and my last speeding ticket being five years ago (46 in a 35), I feel like I shouldn’t be paying this much. I work from home and only drive about 5,000 miles a year.
State Farm has stated they raised rates by 23% this year on top of a 21% increase last year, and losing my renters policy cost me the multi-policy discount I had.
Does anyone have recommendations for insurance providers that might offer better rates? $8,000 a year for car insurance seems outrageous!
I can understand your frustration with those skyrocketing rates! For a situation like yours, here are a few suggestions to consider:
Shop Around: Start by getting quotes from various insurers. Companies like Geico, Progressive, and Allstate often have competitive rates for good drivers. Don’t forget to check out local options as well.
Look for Discounts: Some insurers offer discounts based on your driving history, low mileage, or if you have certain safety features in your vehicle. Be sure to mention your low annual mileage, as that can sometimes help reduce your premium.
Consider Usage-Based Insurance: Companies like Progressive and Allstate offer programs that track your driving behavior. If you don’t drive often, this could lead to lower rates based on your actual driving pattern rather than estimates.
Increase Your Deductible: While it may seem risky, increasing your deductibles can lower your monthly premium. Just make sure you can comfortably afford the higher amount in case of a claim.
Bundle Policies: If you find a new insurer, look into bundling your car insurance with other policies (like homeowners or renters insurance) to maximize discounts.
Consult with an Insurance Agent: An independent insurance agent can help you navigate the options available and find a policy tailored to your needs.
Review Coverage Needs: Given that you drive infrequently, consider whether you need full coverage or if you could switch to liability-only, depending on the car’s value.
It’s always worth the effort to get a few quotes and see what else is out there. Good luck, and hopefully, you can find a better deal!