Los Angeles is one of the most famous cities in the world, and the second-largest city in the nation. Known for its high cost of living, L.A. residents are encouraged to compare all the options for cheap car insurance that Los Angeles has to offer.
The best way to save money is to get new quotes at least twice a year. Insurance premiums are constantly under revision as companies compete for business.
California requires two kinds of liability insurance: bodily injury liability ($15,000 per person/$30,000 per accident) and property damage liability ($5,000 per accident). This basic coverage pays for damage you cause, but not damage to your own car. And what happens if you are hit by an uninsured driver?
Recommended Additional Coverage:
Almost 25% of drivers in the state don’t have insurance, making Uninsured Motorist Coverage a good choice. Most insurance professionals agree that California’s basic coverage isn’t adequate. The rising cost of automobiles, body-shop repair, and health care means you should carry more than basic insurance.
Here are some other options to consider:
- Property damage liability. You can increase your limits up to $500,000. Covers damage you cause to a vehicle or property.
- Bodily injury liability. Can be as high as $1 million. Covers medical costs for injured passengers or drivers when you are at-fault in an accident.
- Medical Payments. Sometimes known as Personal Injury Protection. Covers out-of-pocket medical expenses, including health care deductibles, co-payments, and drug prescriptions.
- Collision coverage. Part of what is commonly referred to as “full coverage.” Covers damage to your vehicle resulting from a collision regardless of fault.
- Uninsured Motorist Liability. Covers your injuries when the at-fault driver doesn’t have insurance, or has inadequate coverage. (As many as 23% of California drivers are without insurance)
- Uninsured Motorist Property Damage. Either waives your deductible, or pays up to $3,500 to cover damage to your car if you are hit by someone without insurance.
- Comprehensive coverage. Covers damage to your vehicle regardless of the cause (may include floods, weather, animals) as well as theft, vandalism, glass breakage, etc.
- Rental reimbursement. Pays for the cost of a rental vehicle while your car is being repaired or replaced.
- Towing coverage. Reimburses you for any towing expenses related to an accident (sometimes extends to mechanical disablement as well).
Driving in Los Angeles
Studies have shown that the average L.A. driver spends a total of 4 days in traffic every year. With 7.2 million commuters on the freeways each day, the chances of being involved in a crash increase a great deal. Before you head out, check with SigAlert’s online traffic map. so you can plan your route around potential delays.
Los Angeles Public Transportation
Los Angeles’ public transportation system is run by Metro. The system includes a light-rail, a large bus network, and a subway. The network sees over 350,000 riders a week, and it is the third-largest public transport system in the nation. Using public transportation will help keep your annual mileage low, and car insurance companies will usually lower your rates accordingly.
What it is Like to Rent in Los Angeles
When you go to browse local listings in Los Angeles, the first thing you would probably see is the price. Living in California, especially in the big cities, can get really expensive really fast. The average price for a 1 bed 1 bath is about $1,500 a month in LA. If you are looking for a more luxurious experience, it will run about $6,900-10,000. There are a couple of steps you can take to avoid spending a lot on rent.
- Set a budget. It is important to set a budget so you know what to look for right away. It will make the process of renting an apartment a lot easier and faster so you’re not distracted by other properties.
- Zero in the specific neighborhood you want to rent in. Doing your research is very important when you decide to rent. Make sure the neighborhood is everything you want it to be and it is safe for you and/or family.
- Set expectations. Apartment hunting isn’t as intense as New York but it is still quite competitive. People are willing to pay above the renting price stated on the leasing contract.
Things to Experience In LA
Major cities usually have a lot of things to do within them and LA is no exception. LA offers some of the best entertainment and amusement parks in the world.
- Universal Studios Theme Park is has a lot of rides based on movie themes. You can even take guided tours of famous movie sets and occasionally see a celebrity. You can easily spend 1-2 days here if the park is quite crowded.
- A suburb of Los Angeles, Hollywood is quite the thing to see. Hollywood s associated with the film industry so it has a lot of nice and glamorous shopping centers.
Los Angeles is a safe city to visit. It is known for being the biggest city in southern California when it comes to attractions. If you love food, Los Angeles has every craving covered. 35 million tourists come to visit the great city each year. Yes, it does have a reputation for being somewhat dangerous but it is also known for being a clean and safe holiday destination. The high crime rate may raise some eyebrows but compared to other cities in the U.S, Los Angeles has the fastest declining crime rate. It is also a melting pot of a city.
If you and your family come at the right time of the year, you can catch a bunch of things going on in the city. To give one example, The Lakers play at the staples center and it is always a treat to catch one game while visiting. The atmosphere is great and you get an experience you will never forget.
Housing Market in LA
The Los Angeles housing market is somewhat competitive. Homes in Los Angeles receive 3 offers on average and sell in around 45 days. The average sale price of a home in Los Angeles was $750K last month. This year is a good year to look for properties in the area, lower interest rates and high standards for showing and selling homes.
The Los Angeles real estate market is considered as one of the premier markets for both investors and homeowners. It is also known as the nation’s least affordable housing market. If you look at the long-term, it’s always a good investment to buy in Los Angeles. It is said that you will always get your money back or you would make a profit, as Los Angeles has a track record of being a great long term investment.