GEICO not only wins the first prize for having the cheapest full coverage car insurance in California, but it also comes in as the winner for having the cheapest minimum coverage.
There are instances where buying the minimum coverage (liability-only) required by California law ($15,000 for injury/death to one person, $30,000 for injury/death to more than one person, and $5,000) to damage to property). For instance, if you own an older model car outright with no lienholder and the vehicle is valued at less than what a full coverage premium would be, carrying minimum coverage may be adequate.
GEICO’s average rate for liability-only coverage in California is $31 per month, which is 36% lower than the state average.
Buying the cheapest liability-only insurance in California may be warranted if you have an older car with high mileage and a low resale value. A quality insurer like GEICO offering such low rates can be tempting if you have a newer model car, so make sure you’re not underinsured and leaving yourself vulnerable financially.