For eco-friendly vehicles, one of the more important considerations that determine the price you pay for insurance is where you live in Bakersfield. Areas with more people or even just a higher incidence of claims tend to have higher rates, whereas areas that tend to be more rural benefit from having to pay less for coverage.
The following table shows the highest-priced areas in California for electric cars to purchase a policy in. Bakersfield ranks #23 with the yearly price of $1,340 for the average insured, which is about $112 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Los Angeles | $2,168 |
| 2 | Glendale | $2,121 |
| 3 | San Francisco | $1,763 |
| 4 | Oakland | $1,704 |
| 5 | Sacramento | $1,703 |
| 6 | San Bernardino | $1,596 |
| 7 | Garden Grove | $1,570 |
| 8 | Long Beach | $1,562 |
| 9 | Stockton | $1,556 |
| 10 | Moreno Valley | $1,551 |
| 11 | Santa Clarita | $1,548 |
| 12 | Fontana | $1,535 |
| 13 | Riverside | $1,527 |
| 14 | Modesto | $1,502 |
| 15 | Santa Ana | $1,497 |
| 16 | Fresno | $1,472 |
| 17 | Anaheim | $1,444 |
| 18 | San Jose | $1,423 |
| 19 | Fremont | $1,403 |
| 20 | San Diego | $1,381 |
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Premium amounts are estimated as the specific Bakersfield residence address can decrease or increase coverage rates noticeably.
Finding out which company offers the best insurance rates for electric cars will require a little more effort in order to find the lowest price quote. Each insurance company used slightly different criteria for determining prices, so to begin we’ll rank the most budget-friendly insurance companies in Bakersfield.
Keep in mind that Bakersfield, CA insurance rates are impacted by many factors that control the cost of your policy. Simply getting older, moving to a different location, or getting a ticket for careless driving can trigger changes in premium that may make certain companies affordable when they were higher priced.
Find the Best Cheap Insurance for EV’s
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,121 |
| 2 | Wawanesa | $1,181 |
| 3 | CSAA | $1,198 |
| 4 | Century National | $1,214 |
| 5 | Nationwide | $1,250 |
| 6 | 21st Century | $1,338 |
| 7 | Grange | $1,433 |
| 8 | GEICO | $1,513 |
| 9 | Allstate | $1,543 |
| 10 | Mercury | $1,548 |
| 11 | Allied | $1,556 |
| 12 | Progressive | $1,558 |
| 13 | The Hartford | $1,575 |
| 14 | MetLife | $1,590 |
| 15 | State Farm | $1,733 |
| 16 | Esurance | $1,739 |
| 17 | Unitrin | $1,750 |
| 18 | Travelers | $1,788 |
| 19 | Bristol West | $1,831 |
| 20 | Farmers | $2,026 |
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USAA offers some of the lowest car insurance rates in Bakersfield at around $1,121 annually. This is $530 less than the average policy premium paid by California drivers of $1,651. Wawanesa, CSAA, Century National, and Nationwide also make the cut as some of the best Bakersfield, CA auto insurance companies.
As shown in the table above, if you are a customer of Nationwide and switched to Wawanesa, you might achieve a yearly savings of in the vicinity of $69. Insureds with 21st Century could save as much as $157 a year, and Grange insureds might realize rate reductions of up to $252 a year.
It’s important to note that these premiums are averaged for all ages of drivers and types of vehicles and do not factor in a specific location for electric cars. So the car insurance company that has the cheapest rates for you may not even be in the top 24 companies in the list above. That’s why you need to get car insurance quotes using your own personal information and vehicle type.
The diagram below shows how choosing a deductible can affect insurance prices when searching for cheap insurance for electric cars. The premiums are based on a married male driver, full physical damage coverage, and no discounts are applied.
In the chart above, a 30-year-old driver could lower rates by $342 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $516 by choosing a $1,000 deductible. Even younger insureds, like the 20-year-old, could potentially save as much as $1,026 every year by choosing a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it will be necessary to have plenty of discretionary funds to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Difference between liability only and full coverage rates
Buying cheaper insurance is the goal of the majority of people, and one of the best ways to reduce the cost of insurance for electric cars is to only buy liability coverage. The example below shows the comparison of yearly insurance costs when comparing full coverage to liability only. The prices are based on no violations or accidents, $250 deductibles, single status, and no discounts are applied to the premium.
If we average all the age groups together, full coverage costs $2,314 per year over liability only. At some point, almost every driver questions when is the right time to remove full coverage. There is no clear-cut rule for phasing out physical damage coverage on your policy, but there is a general school of thought. If the annual cost of coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.
For example, let’s assume your vehicle’s replacement cost is $10,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, you would only receive $9,000 after the deductible is paid. If premium cost is more than $900 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.
Last year’s bargain might be this year’s rip off
Bakersfield insurance rates are determined by lots of factors that control the price you have to pay. Simply having another birthday, moving to a new city, or having a fender bender can trigger rate changes resulting in some companies being cheaper than competitors.
Not only may things change on your end, but insurance companies modify pricing every year in order to remain profitable. Significantly higher claims can result in higher rates, while better underwriting can result in lower-cost Bakersfield car insurance rates.
For example, the bar chart below shows the companies that have the cheapest car insurance in Bakersfield, CA for a 30-year-old female driver with no prior claims, no tickets, and a high credit rating. When comparing rates based on her current risk profile, USAA offers the best car insurance rates in Bakersfield at $1,192 each year. This is $459 less than the average premium paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide are also on the list of the cheapest Bakersfield, CA auto insurance companies.
The next chart shows rates after we give the driver in the first example a claim, a lower credit score, and a traffic ticket or two. Since every insurance provider uses their own formula for filing rates in each state, comparing prices could now result in a different list of cheap Bakersfield auto insurance companies as shown below.
Grange now has the lowest price in Bakersfield, CA with Progressive, Allstate, GEICO, and Mercury completing the list. This demonstrates why consumers need to compare as many rates as possible when trying to get the lowest auto insurance quotes for electric cars.
Insurance prices are determined by many different factors and change frequently, so the most affordable company the last time you shopped around may now be one of the more expensive options.