California
Are you looking for 'full coverage' on your vehicle?
The California Low Cost Auto Insurance Program offers affordable, liability only policies that will satisfy the DMV’s insurance requirements. Unfortunately, the program does not offer physical damage coverage, which is commonly known as ‘full coverage.’
You can still satisfy the California financial responsibility laws by purchasing a low cost auto insurance policy through us; however, you may want to consider purchasing a separate stand-alone policy that would cover physical damage coverage on the vehicle. On average, this separate policy cost consumers between $180 - $280 a month, in addition to the low cost auto insurance policy. Of course, many factors go into determining the final rate, but this is just an indication of what you might expect. Many times, this won’t be competitive compared to just purchasing a ‘full coverage’ policy through the voluntary ('standard') market.
We highly recommend you review your options before proceeding with the low cost program, especially if you have a lienholder (vehicle being financed). If you have a lienholder (often listed on the vehicle registration), the California Low Cost Auto Insurance Program may not satisfy your lender’s requirements. In fact, if they don’t receive acceptable proof of required insurance, they could purchase Collateral Protection Insurance (CPI) at your expense. Please be aware that CPI is not a substitute for standard insurance and generally carries higher premiums than insurance you can purchase on your own. CPI is designed to protect only their interest in your collateral (i.e., the vehicle) for claims filed by them as a creditor for physical damage or loss caused by covered collision and comprehensive casualties, and therefore it may not pay for claims you make. Even more importantly, it does not provide any liability coverage for claims made against you and does not satisfy any mandatory liability insurance or financial responsibility laws of this or any state. For these reasons, we encourage you to purchase the appropriate coverage.
We are unable to offer a separate stand-alone physical damage only policy at this time. You'd have to purchase this elsewhere if you wish to proceed with the California Low Cost Auto Insurance Program. If you are no longer interested, please email us at lowcostauto@pacificinsuresme.com to request we close your file.
You can still satisfy the California financial responsibility laws by purchasing a low cost auto insurance policy through us; however, you may want to consider purchasing a separate stand-alone policy that would cover physical damage coverage on the vehicle. On average, this separate policy cost consumers between $180 - $280 a month, in addition to the low cost auto insurance policy. Of course, many factors go into determining the final rate, but this is just an indication of what you might expect. Many times, this won’t be competitive compared to just purchasing a ‘full coverage’ policy through the voluntary ('standard') market.
We highly recommend you review your options before proceeding with the low cost program, especially if you have a lienholder (vehicle being financed). If you have a lienholder (often listed on the vehicle registration), the California Low Cost Auto Insurance Program may not satisfy your lender’s requirements. In fact, if they don’t receive acceptable proof of required insurance, they could purchase Collateral Protection Insurance (CPI) at your expense. Please be aware that CPI is not a substitute for standard insurance and generally carries higher premiums than insurance you can purchase on your own. CPI is designed to protect only their interest in your collateral (i.e., the vehicle) for claims filed by them as a creditor for physical damage or loss caused by covered collision and comprehensive casualties, and therefore it may not pay for claims you make. Even more importantly, it does not provide any liability coverage for claims made against you and does not satisfy any mandatory liability insurance or financial responsibility laws of this or any state. For these reasons, we encourage you to purchase the appropriate coverage.
We are unable to offer a separate stand-alone physical damage only policy at this time. You'd have to purchase this elsewhere if you wish to proceed with the California Low Cost Auto Insurance Program. If you are no longer interested, please email us at lowcostauto@pacificinsuresme.com to request we close your file.
