Who Has the Cheapest Car Insurance Rates in Moreno Valley?
Moreno Valley is a mid-sized city in the United States, with a population of over 213,000 as of July 2019. The population growth was strong between 2010 and 2019, growing at 10.2% over that period and above the national average growth rate of 6.3%. The percentage of people between the ages of 18-65, the typical age range for the majority of drivers, is 63%, and 64% of the population above age 16 in the civilian labor force between 2014-2018.
The mean travel time to work for workers above the age of 16 was right around 35 minutes between 2014-2018. Compared to the national average commute tie of 27 minutes, that is a long time to spend on the road each week. Additionally, in 2019, Moreno Valley had 1079 total cases of reported vehicle theft, averaging out to 511.4 cases per 100,000 people, which is higher than the California average of 358.8 per 100,000 and above the national average.
Both the longer commute time and the existing theft rate may mean that vehicle owners in this area will pay more than the average for their car insurance. Add to that the fact that California has some of the highest rates in the country and you’ll want to make sure to do your research before you pay for insurance that costs more than you can afford.
How Much Car Insurance Coverage Do I Need in Moreno Valley
According to the California Department of Motor Vehicles, all individuals who are seeking to register a vehicle in the state must have, at minimum, insurance covering $15,000 for injury or death to one person, $30,000 for injury or death to multiple individuals, and $5,000 for property damage. This minimum is called liability insurance, and it will help cover the costs to a person other than the policyholder for personal injury or property damage in the advent of a crash where the policy holder is at fault. Additionally, it’s explicitly stated that comprehensive or collision insurance does not necessarily meet the state’s minimal vehicle financial responsibility requirements, so you’ll need to be aware of that when you’re looking for insurance.
Furthermore, insurance companies in California are required by law to report private-use vehicle insurance information of policyholders to the state and those without proof of insurance will have their vehicle’s registration suspended until the necessary proof is submitted. Typically, it’s not recommended that you purchase minimum coverage for car insurance in California, as the coverage is quite low. In particular, the $5,000 minimum threshold for property damage coverage would be unlikely to cover the costs if the policyholder is in a crash with a high-value vehicle or a severe accident totaling the other party’s car. Additionally, the $15,000 coverage for injury or death to one person is unlikely to be enough to help cover the costs if the crash results in permanent disability or severe injuries to the other party.
Most Expensive and Least Expensive Insurance Rates by Zip Code
Cheap Car Insurance in Moreno Valley by Insurer
Many companies provide affordable car insurance in California. It’s important, however, to consider your personal needs when choosing car insurance and to select a policy plan based on its important coverage characteristics rather than simply choosing the minimum coverage plan. It’s also important to check out each insurance company’s customer service ratings in the area before you select a plan.
Check out our guide to find cheap auto insurance rates close by.
Low Cost Auto Insurance for Bad Credit in Moreno Valley
Drivers with bad credit can still purchase car insurance in California at the same price as drivers with the best credit, as credit cannot be used in the state as a determinant for policy rates.
Are you looking for cheap insurance with bad credit? Check out this guide.
Differences Between the Two Main Coverages
What is Liability Only Insurance Coverage?
Liability-only coverage is the cheapest option for automobile insurance. This coverage level only covers vehicles that are not at fault in an accident. Thus, if you carry liability-only coverage and cause an accident, the other driver will be covered by your policy. Any damage done to your car must be covered out of pocket, if at all.
Another way to think of liability insurance is that it protects you from claims made by another driver. Without the protection of insurance, you might be sued if you were to collide with another vehicle.
Full Coverage Auto Insurance
Full Coverage is a commonly used term which covers more than just the damage you might cause in an accident, or the coverage you are liable for. If your policy covers your liability to another vehicle, the damage done to your vehicle (collision insurance), and any incidental damage done to your car by any non-auto elements (comprehensive coverage), then you have a policy that is indeed full coverage. If you have a new car, you may wish to cover it with such a policy, as you might want the peace of mind that any damage will be covered by insurance.
Difference Between the Two Types of Coverage
Liability and Full coverage policies have many distinctions but the chief one is that under a liability policy your car is not covered. If you are in an accident and are found at-fault, your liability policy will cover the other driver and her passengers. A full coverage policy, on the other hand, covers damage done to your car as a result of a wide range of accidents, even if you are at-fault. These policies also differ when it comes to premium payments.
Average Annual Car Insurance Rates in California by City
Additional cities in California you can check out.
Take Advantage of These Car Insurance Discounts
Find additional ways to save on your Moreno Valley car insurance premiums with these insurance discounts:
Factors That Affect Your Car Insurance Premiums
As you can see, car insurance rates are influenced by a complex set of factors, all of them are determined by risk data for each insurance agency. How much each agency charges, though, based upon similar risk data, can vary widely. In the case of younger drivers, they can save literally thousands of dollars each year by shopping around. The insurance agencies will charge drivers different rates for their automobile insurance premiums by their age and marital status, driving record, area they live in, and whether they carry liability-only or full coverage insurance. If the customer opts for collision insurance, the carriers will charge more for a lower deductible.
Since there are so many factors to take into consideration in how much an insurance agency charges you for automobile insurance, it quite literally pays to thoroughly educate yourself about automobile insurance and to shop around for the best quote.
Learn how driving violations can affect your car insurance rates.
Check Out Car Insurance Companies in Moreno Valley and Reviews
Helpful Moreno Valley, California Vehicle Resources:
Live Traffic and Accidents
DMV (Find Locations, Vehicle Registration, Titles and Insurance Info)