Best Cheap Car Insurance in Los Angeles for 2024 | Bankrate (2024)

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Updated Sep 06, 2024

The best car insurance companies in Los Angeles

If you live in Los Angeles, you probably rely on an automobile to get around, but the high cost of auto insurance may have you looking for a cheaper rate. Based on Bankrate’s research, Los Angeles drivers pay an average annual premium of $3,603 for full coverage, or $300 per month, and an average of $892 annually or $74 monthly for minimum coverage. For drivers looking for the best car insurance in California to work within their budget, Bankrate evaluated insurers with better-than-average AM Best financial strength ratings, high marks in J.D. Power’s 2024 U.S. Auto Insurance Study, high Bankrate Scores and the lowest car insurance rates in Los Angeles.

The cheapest car insurance companies in Los Angeles

If you’re looking for cheap car insurance in California, Los Angeles offers several top-rated options. According to our data, the cost of full coverage car insurance in Los Angeles is 52 percent more than the national average of $2,348 and 43 percent more than the nation's average cost of minimal coverage insurance. Below are the five cheapest car insurance companies for drivers in Los Angeles looking for the best deal on insurance.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

How much is car insurance in Los Angeles, California?

The average cost of full coverage car insurance in Los Angeles is $3,603 per year and minimal auto insurance coverage averages $892 per year. Auto insurance rates vary amongst drivers due to many factors that can be location-based, such as traffic density and weather. The average car insurance rates for California are $2,645 per year for full coverage and $631 per year for minimal coverage. Aside from location, other rating factors such as age and driving record significantly affect how much you pay for car insurance.

Los Angeles rates for teens

Age is an insurance rating factor in most states, and teen drivers are usually rated as high-risk due to their limited driving experience. Adjusting to dangerous driving conditions and avoiding road hazards are skills drivers learn over time. Teen driving stats also reveal that young drivers tend to speed more and don’t regularly wear seatbelts, which increases the risk of car crash-related fatalities. However, teens who remain on their parents’ policy instead of getting their own auto insurance right away can usually save a significant amount of money.

Los Angeles rates for young drivers

Young drivers in Los Angeles aren’t stuck paying for high insurance rates forever. If they maintain a good driving record, their premium is likely to decline as they gain driving experience. When adult children no longer live with their parents, they must secure their own car insurance policy. Car insurance rates for young drivers can still be affordable if they can maintain their driving training and good student discounts.

Los Angeles rates for adults

With a good driving history, drivers over the age of 25 are typically moved into a standard or preferred risk pool where age doesn’t impact premiums as significantly. According to data from the Insurance Institute of Highway Safety (IIHS), crash fatality rates among adults usually remain fairly consistent. While California doesn’t allow for the use of gender or credit score for insurance rating purposes, other factors such as loss history, coverage limits and location can cause rates to vary significantly between carriers and policyholders.

Los Angeles rates for senior drivers

Rates start to increase for drivers again around the age of 70. Senior drivers tend to pay slightly more for their car insurance due to an enhanced risk of accidents. Since so many seniors live on a fixed income, they may want to shop for insurance with carriers that offer more affordable rates to older drivers or offer a senior defensive driving discount.

The cheapest car insurance in Los Angeles by driving record

The best way to find affordable car insurance in Los Angeles is by maintaining a clean driving record, but as much as we all try, accidents happen. Insurance companies can increase your car insurance rate by adding a multi-year surcharge to your policy for at-fault accidents and moving violations. Bankrate’s editorial team understands that every penny counts and is here to help you find the cheapest Los Angeles car insurance for various driving records.

Car insurance with a speeding ticket in Los Angeles

Speeding tickets in California can impact your car insurance rates and cause you to pay some hefty fines. Speeding ticket fines can range between $35 to $1,000, depending on the situation. Drivers from Los Angeles pay an average of $5,072 per year for full coverage car insurance after receiving a speeding ticket — 78 percent more than the state average.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Car insurance after an accident in Los Angeles

While speeding and distracted driving are the leading causes of car crashes, the bumper-to-bumper traffic that Los Angeles is known for makes driving even more challenging. Drivers in Los Angeles pay $6,119 per year for full coverage car insurance after having an at-fault accident. This is 24 percent less than the state’s post-accident average.

Car insurance after a DUI in Los Angeles

Drivers with DUIs can face difficulties securing auto insurance since not all carriers will underwrite for this type of risky driving behavior. It is common for drivers with DUI infractions to receive license suspensions and to require an SR-22 filing for their license to be reinstated. In Los Angeles, the average cost of full coverage car insurance with a DUI infraction is $8,841, which is 33 percent more than the state average cost of car insurance post-DUI.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Methodology

Bankrate utilizes Quadrant Information Services to analyze the latest rates in September 2024 for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $50,000 property damage liability per accident
• $100,000 uninsured motorist bodily injury per person
• $300,000 uninsured motorist bodily injury per accident
• $500 collision deductible
• $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.

Age: Rates were calculated by evaluating our base profile with the ages 20-70 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

Teens: Rates were determined by adding a 16- or 18-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.

Bankrate Score

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Cost & ratings50%

• Coverage & savings30%

• Support20%

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from and Moody’s and factored a company’s corporate sustainability efforts.