Cheapest and Best Car Insurance in Thousand Oaks, CA (July 2024)

Selecting the cheapest and best insurance in Thousand Oaks hinges on coverage choices and personal driver details. For full coverage, National General offers the lowest rates, while GEICO offers the cheapest for minimum coverage.

State Farm is most economical for families with teens. For exceptional customer service, Chubb excels, also securing the best overall position for combining price and service. Ultimately, the best choice is tailored to individual preferences and coverage requirements.

GEICO is the cheapest option in Thousand Oaks for minimum coverage car insurance.

• GEICO: $508 per year
• Mercury: $528 per year

Travelers offers the most expensive minimum coverage policy with an annual premium of $821, indicating a $313 difference when compared with GEICO's policy. This emphasizes the value of shopping around for car insurance.

State Minimum Liability Requirements

Across all cities in California, including Thousand Oaks, the minimum car insurance coverage requirements are set by state law:

• $15,000 for bodily injury per person
  
• $30,000 for bodily injury per accident
  
• $5,000 for property damage liability per accident
  

If you're at fault in an accident, your minimum coverage policy would cover up to $15,000 for injuries to one person, maxing out at $30,000 for all injured parties. If the injured person's medical expenses exceed $15,000, or if all injuries surpass $30,000, you would be responsible for paying the difference out of pocket.

National General is the premier choice for the most affordable cheapest full coverage car insurance in Thousand Oaks. The top picks are:

• National General: $1,178 per year
• Progressive: $1,283 per year

Farmers presents the most expensive full coverage policy in the area, with an annual premium that's $1,126 more than National General's offering. This contrast underscores the perks of comparing rates to secure a deal that balances comprehensive protection with affordable pricing, particularly because full coverage policies encompass a broader spectrum of protection than minimal coverage options, hence the higher costs.

Do You Need Full Coverage in California?

A full coverage policy in Thousand Oaks includes coverage for damage to your own vehicle in the form of comprehensive and collision coverages. It usually also includes increased liability limits.

• Collision Insurance: This provides coverage for your vehicle in the event of a collision, whether with another vehicle or or a stationary object like a tree or light pole. It also covers rollover accidents and pothole damage.

• Comprehensive Insurance: This coverage insures your vehicle against various types of damage not caused by collisions, including theft, vandalism, fires, natural disasters and being struck by an animal like a deer.

If you have a new vehicle, it's wise to opt for full coverage insurance for more robust financial protection. If you're leasing or have a car loan, you are typically required to carry full coverage insurance.

On the other hand, owners of older vehicles may find that the extra cost — which can amount to several hundred dollars more per year — is not justified by the value of the vehicle. When deciding how much car insurance coverage you need, consider your ideal balance: more extensive coverage comes with higher premiums, but getting less coverage means you may pay more out of pocket if you need to file a claim.

For drivers with a poor driving record in Thousand Oaks requiring full coverage, the most affordable options vary by the type of offense. Here are the cheapest providers for each individual incident:

• Speeding ticket: National General ($1,237 per year)
• At-fault accident: National General ($1,749 per year)
• DUI: National General ($1,237 per year)

The most expensive rates for these incidents are from companies such as Hartford, with a notable price increase for drivers with a DUI. The severity of the offenses can also sometimes greatly influence car insurance rates.

In Thousand Oaks and other locales, insurance premiums increase with the gravity of a driving infraction because insurers view such offenses as indicators of higher risk. For instance, drivers with a speeding ticket might pay an average of $2,256 annually, while those with a DUI could face about $3,775, a significant surge.

This disparity underscores the necessity for drivers with offenses to diligently compare rates, ensuring they secure the best possible deal and alleviate some of the financial burden associated with their driving history.

State Farm offers the cheapest full coverage car insurance for male and female teens in Thousand Oaks.

• State Farm: $3,024 per year for female and male teens
• GEICO: $3,323 per year for female teens and $3,503 per year for male teens

The rates indicate combined coverage for two parents and a teen driver, reflecting the importance of economical decisions in family insurance policies. Nationwide offers the most expensive teen family policy in the city, with an annual cost difference of $2,178 between it and State Farm for female teen policies. This considerable gap highlights the importance of actively comparing options for families adding a higher risk teen driver to their policy.

In Thousand Oaks, teens seeking car insurance could face significantly higher rates when purchasing an individual policy, averaging at $4,719, compared to being added to a family policy, which averages at $3,944 annually.

The difference stems from the greater risks insurers associate with individual teen drivers, including inexperience and a higher likelihood of filing claims. Consequently, it's often challenging for teens to secure individual policies due to these perceived risks, making a joint family plan a more viable and cost-effective alternative for young drivers.

National General offers the most affordable option in Thousand Oaks for those seeking the cheapest car insurance for military backgrounds.

• National General: $1,178 per year
• Progressive: $1,283 per year

Although USAA ranks as the fifth-cheapest option with an annual premium of $1,310, USAA specializes in serving active duty military members, honing its services to fit their unique needs.

Finding the most affordable car insurance rates in Thousand Oaks demands thorough comparison, often taking upwards of 15 minutes per provider. With at least three companies to assess, individuals might invest over an hour into research. However, MoneyGeek's car insurance calculator streamlines this process significantly. By inputting a few critical details such as age, driving history, credit score, and desired coverage level, users can quickly receive tailored rate estimates, making it an efficient tool to pinpoint cost-effective insurance options.

Selecting the best auto insurance in Thousand Oaks means weighing your priorities — whether it's service, cost, coverage or other factors. MoneyGeek's research, which uses distinct scoring criteria for separate categories, highlights the city's top insurers for different needs:

• Best Overall: Chubb (MoneyGeek score 84 out of 100)
• Best for Service: Chubb (MoneyGeek score 94 out of 100)
• Best Cheap: Mercury (MoneyGeek score 80 out of 100)

Chubb emerges as the best in Thousand Oaks for overall value and service, providing an excellent balance of customer satisfaction, claims handling and stability. Mercury offers a budget-friendly option without greatly compromising on the service experience.

Chubb is the best option in Thousand Oaks for drivers seeking best car insurance. The two top providers stand out:

• Chubb: MoneyGeek score of 84 out of 100 ($1,848 per year)
• Capital Insurance Group: MoneyGeek score of 82 out of 100 ($1,566 per year)

Chubb stands out with its higher MoneyGeek score indicating exceptional service and offerings. The score takes into account aspects such as customer satisfaction and the quality of the claims process.

Chubb is the best option in Thousand Oaks when it comes to car insurance for customer service, without considering rates. Chubb delivers exceptional service, with a focus on general satisfaction, deft claims handling, and comprehensive coverages.

• Chubb: MoneyGeek score of 94 out of 100 ($1,848 per year)
• Capital Insurance Group: MoneyGeek score of 82 out of 100 ($1,566 per year)

Chubb stands out due to its outstanding claims handling and wide range of coverages. These factors are significant contributors to the overall satisfaction of their clients, making Chubb a leading choice for car insurance in Thousand Oaks.

Mercury is the best option in Thousand Oaks for if you’re seeking cost-effective car insurance without compromising on quality. The MoneyGeek score takes into account factors like affordability, satisfaction and claims handling, ensuring you're getting great value for your coverage.

• Mercury: MoneyGeek score of 80 out of 100 ($528 per year)
• GEICO: MoneyGeek score of 75 out of 100 ($508 per year)

Mercury garners the top place with its combination of a high satisfaction score and solid claims handling, accentuating its quality service alongside affordability. This ranking is for a minimum coverage policy, making it a standout choice for drivers prioritizing both cost and reliability.

The average cost of car insurance in Thousand Oaks, California, is $1,556 annually. When comparing this to the average cost of car insurance in California, which is $1,562, Thousand Oaks residents pay slightly less. Both figures are lower than the national average, which stands at $1,781, showcasing a difference of $219 less in the state of California compared to the country as a whole.

Car insurance premiums are influenced by a multitude of factors, and location plays a crucial role due to its direct impact on aspects such as accident rates and theft statistics. For instance, urban areas with higher vehicular traffic tend to have higher insurance rates. The city with the most expensive insurance premium is Glendale, at $2,115, while Santa Maria boasts the cheapest at just $1,106. This significant contrast of $1,009 highlights the impact location has on car insurance costs. In less densely populated non-city areas, the rates may be even more affordable.