The words “economical” and “insurance” really don’t belong together, especially when looking for the lowest insurance rates for young drivers. Because of the high cost, let’s lead off by showing you a few of the things the can have a considerable influence on car insurance prices, and figure out some ways to reduce the price of your next policy.
The vehicle model that needs insurance is one of the largest factors when trying to find economical auto insurance for young drivers. Vehicles with lower acceleration and performance, good crash test ratings, or a low likelihood of having liability claims will cost quite a bit less to insure than higher performance models.
The table below illustrates car insurance rates for some of the cheaper automobiles to buy insurance for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$5,097|
|Honda CR-V LX 4WD||$5,105|
|Hyundai Elantra SE Touring Station Wagon||$5,485|
|Ford Escape Limited 4WD||$5,492|
|Toyota Tacoma 2WD||$5,994|
|Honda Odyssey EX W/Rear Entertainment||$6,001|
|Ford Edge SEL 2WD||$5,994|
|Toyota RAV4 Sport 4WD||$6,047|
|Chevrolet Equinox LS AWD||$6,057|
|Ford Explorer Limited AWD||$6,100|
|Dodge Grand Caravan Crew||$6,105|
|Chevrolet Malibu LT||$6,100|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$6,323|
|Ford Focus SEL 4-Dr Sedan||$6,326|
|Chevrolet Impala LTZ||$6,379|
|Toyota Corolla LE||$6,386|
|GMC Sierra SL Crew Cab 2WD||$6,432|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$6,442|
|Nissan Altima 3.5 SR 4-Dr Sedan||$6,432|
|Ford Fusion Sport 4-Dr Sedan||$6,440|
|Jeep Grand Cherokee Limited 4WD||$6,432|
|GMC Sierra 3500HD SLE Regular Cab 2WD||$6,485|
|Compare Cheap Rates Go|
Prices above based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, and safe-driver. Estimates do not factor in specific location information which can raise or lower insurance rates noticeably.
Looking at the data, vehicles like the Honda Accord, Honda CR-V, Hyundai Elantra, Ford Escape, and Toyota Prius are likely to be the less-costly vehicles to insure for youthful drivers. The cost of a car insurance policy will tend to be more expensive anyway because of the fact that there is more liability exposure for young drivers, but in general those vehicles will probably have the best rates available.
Trying to find budget auto insurance is challenging, and finding out which company offers the most affordable insurance rates for young drivers will take even more rate comparisons. Every insurance provider uses a slightly different approach for filing rates in each state, so to begin we’ll rank the most competitive insurance companies in Columbus.
It’s important to know that Columbus, OH insurance rates are based on many factors that can increase the cost of a policy. Turning one year older, moving to a different location, or getting a speeding ticket can trigger price changes that can cause some rates to be cheaper than competitors.
Best Auto Insurance Prices for Teens
Utica National normally has some of the most affordable car insurance rates in Columbus at around $654 a year. Erie, Frankenmuth, Allied, and Travelers are also some of the cheaper Columbus, OH auto insurance companies.
As shown in the table above, if you currently have coverage with Allied and switched to Erie, you might realize yearly savings of around $23. Ohio drivers with Travelers might save as much as $45 a year, and USAA insureds might reduce rates by $66 a year.
To see if your current coverage is too expensive, click here to start your custom quote or visit several of the following companies.
Be aware that those estimates are averages for all ages of drivers and types of vehicles and and are not calculated with a specific zip code for young drivers. So the car insurance company that can offer the best rates for your situation may not even be in the top 33 companies shown above. That point stresses why you need to get rate quotes using your own personal information and vehicle type.
The example below illustrates how choosing a deductible can influence insurance rates when searching for cheap insurance for young drivers. The information is based on a married female driver, full coverage, and no discounts are taken into consideration.
The data above shows that a 50-year-old driver could pocket $156 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $234 by changing to a $1,000 deductible. Young drivers, such as the Age 20 example, could shave as much as $384 each year just by choosing larger deductibles.
When choosing a higher deductible, it will now be necessary to have enough in a savings account to offset the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
How accidents and violations affect rates
The recommended way to obtain affordable insurance rates in Columbus for youthful drivers is to drive safely and maintain a clean driving record. The illustration below shows how traffic citations and at-fault accidents can affect car insurance rates for each different age category. The premium estimates are based on a single male driver, full physical damage coverage, $500 deductibles, and no discounts are applied.
In the previous example, the average cost of car insurance per year with no accidents or violations is $1,077. Get written up for two speeding tickets and the average cost increases to $1,421, an increase of $344 each year. Then add in two accidents along with the two speeding tickets and the annual cost of insurance for young drivers goes up to an average of $2,760. That’s an increase of $1,682, or $140 per month, just for not paying attention while driving!
How to find budget-friendly insurance for young drivers
The list below details some money-saving suggestions that can help Ohio drivers find lower-cost auto insurance.
- Buy a vehicle with excellent safety ratings
- Do not waste money insuring older vehicles for full coverage
- Drivers with good credit ratings often pay less
- Increase deductibles to save money
- Ensure your driving record is clean
- Having at-fault accidents will increase rates
- Compare rate quotes often
The last suggestion is very important, as was noted in the prior information. Coverage prices change frequently, so don’t be tentative to change to a new company if a cheaper rate is available.
Many drivers tend to have loyalty to a certain company, but it’s not a great idea if that devotion results in you overpaying a wad of cash every year. Take a few minutes and compare prices and find cheaper auto insurance for young drivers in Columbus.