What is the Average Cost of Car Insurance in Stockton?
Stockton, CA has a long and rich history that dates all the way back to the California Gold Rush. Where once miners would venture to Stockton for supplies (to Stock up in town), now the over 300,000 residents are largely involved in local retail, healthcare, and manufacturing. The median household income of just over $54,000 comes after a 5% increase from the previous year, making Stockton an enviable place to live. However, the average commute time for Stockton workers is 33 minutes, or 66 minutes round-trip. Which means that, for a two-car household, which is the average, this translates to 330 total minutes spent commuting each week. This means that each household places their cars at risk for at least 5.5 hours per week.
Drivers in Stockton face other risks to their automobiles in the form of theft. Stockton has the dubious honor of being among the top 10 cities for automobile theft nationwide. In 2018 alone, the city recorded a total of 4,287 car thefts, resulting in a population adjusted rate of 569.58 per 100k residents. Drivers thus should consider robust automobile insurance policies to help buffer any financial damage that might come when the car is hit or stolen. After all, insurance won’t cover damage from theft if the car only has liability coverage.
This page covers everything drivers need to know about car insurance in Stockton, CA so please keep reading and drive safely.
How Much Car Insurance Coverage Do I Need in Stockton
In order to legally own and operate an automobile in Stockton, CA, all drivers must carry a minimum level of liability insurance. This state requirement is designed to protect everyone on the road so that they can be covered in the event of a collision. California mandates that drivers carry at least liability insurance, though finance companies may have higher auto insurance standards as a condition of the auto loan.
The state-mandated liability insurance policies are the cheapest coverage available for drivers. The relative affordability often tempts drivers with their low cost, but these required policies are not recommended for the best coverage. That is because liability insurance only covers the victims in a collision. At-fault drivers must repair their vehicles with out-of-pocket funds while also seeing their rates rise as a result of the claim. Furthermore, if the victims themselves only have liability policies, they must wait for the at-fault driver’s company to settle the claim before they can repair their vehicles. When drivers have comprehensive coverage, they can immediately file a claim and begin the repairs process.
Most Expensive and Least Expensive Insurance Rates by Zip Code
Cheap Car Insurance in Stockton by Insurer
Drivers who desire affordable automobile insurance in Stockton, CA should probably first look at a company like Geico. However, other insurers, such as United and Northbook, also offer competitive rates. It’s also valuable to look at what insurers offer in addition to automobile insurance. That is, there may be special packages or services that incentivize drivers to pay a bit more.
Low Cost Auto Insurance for Bad Credit in Stockton
Drivers with bad credit must often pay higher premiums in order to insure their automobiles. However, California’s insurance laws forbid companies from basing their rates on anything but a driver’s record. Thus, good drivers will be rewarded with lower insurance rates and will only see an increase if they receive a ticket or cause an accident.
Full Coverage Vs. Liability Coverage
What is Liability Only 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.
What does Full Coverage Insurance Cover?
Liability-only insurance is the least amount of insurance that one can purchase. This satisfies your legal requirement to drive and register your vehicle in california. For many people, this is not sufficient coverage because it does not cover their losses if they are at fault and do damage to their own vehicle or if they sustain damages in a hit-and-run or from an uninsured driver.
Collision covers when one is at fault and their own vehicle is damaged. If you have a car that is worth more than a few thousand dollars, it is often a wise investment to buy collision insurance each year. However, collision insurance coverage is pricey and will increase your insurance cost per year quite drastically.
Comprehensive covers those oddball things that happen that you cannot control, like damaged windshields and collision with animals on the road. It also covers your loss when someone purposely damages your vehicle in an act of vandalism. In addition, comprehensive covers theft of your vehicle, fire and weather, or acts of nature. An example of the latter would be if your car was crushed under a tree that fell in a wind storm.
What You Need to Know About the Differences Between the Car Insurance Types
The difference between full and liability coverage is quite dramatic. With liability, insurers gamble that they will only have to pay for one car in an accident. With a comprehensive or full coverage policy, insurance companies know that they are taking on more liability exposure and so their rates reflect the increased risk. In the case of a comprehensive policy, they might even have to cover claims for damages that don’t arise from a traffic incident.
Average Annual Car Insurance Rates in California by City
These are the Common Reasons for Insurance Rates in Stockton CA
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.
Check Out Car Insurance Companies in Stockton and Reviews
Helpful Stockton, California Vehicle Resources:
Live Traffic Accidents by City
DMV in California (Find Locations, Vehicle Registration, Titles and Insurance Info)
Lyft – https://www.lyft.com/rider/cities/stockton-ca