The words “low-cost” and “insurance” probably shouldn’t be used in the same sentence, especially when trying to find the best insurance rates for 16 year olds. Because of the high cost, let’s lead off by showing you a few of the things that significantly impact insurance prices, and see if you can lower the price of the next policy you buy.
The vehicle model that needs insurance is probably the most important factor when shopping for economical coverage for 16 year olds. Vehicles with lots of horsepower, a lack of safety features, or an increased likelihood of liability claims will cost significantly more to insure than safer models. The next table shows car insurance rates for some of the most budget-friendly automobiles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLT 4WD||$5,761|
|Honda CR-V EX 4WD||$5,767|
|Ford F-150 XL Crew Cab 2WD||$6,413|
|Ford Explorer XLT 2WD||$6,420|
|Ford Edge SEL 2WD||$6,709|
|Toyota Camry LE||$6,763|
|Nissan Altima 2.5 4-Dr Sedan||$6,768|
|Jeep Grand Cherokee Laredo 2WD||$6,763|
|Chevrolet Impala LT||$6,771|
|Toyota RAV4 Limited 2WD||$6,763|
|Chevrolet Silverado LT Extended Cab 4WD||$6,772|
|Dodge Grand Caravan SXT||$6,819|
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Data based on single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, and claim-free. Rates do not factor in Columbus, OH location which can lower or raise prices significantly.
Based upon the table data, you can infer that vehicles like the Ford Escape, Honda CR-V, and Toyota Prius are most likely going to be some of the most affordable vehicles to insure for new drivers. Car insurance rates will be more expensive just because there is more claim risk for 16 year olds, but overall those particular models will tend to have the cheapest auto insurance rates compared to all other vehicles.
Deciphering which companies offer the lowest-priced auto insurance rates for 16 year olds will take more time in order to find a policy that fits your budget. Every insurance provider has a proprietary method to establish rates, so let’s take a look at the auto insurance companies with the overall cheapest rates in Ohio.
It’s important to understand that Columbus, OH auto insurance rates are impacted by many things that will increase or decrease the price you have to pay. Turning one year older, getting divorced, or having a fender bender may generate price changes resulting in some rates now being cheaper in comparison to the competition.
Find the Best Cheap Insurance for Teens
|Rank||Company||Cost Per Year|
|7||Merchants Insurance Group||$755|
|Find Cheaper Rates Go|
Utica National may offer some of the lowest car insurance rates in Columbus at around $654 each year. Allied, Frankenmuth, Erie, and Travelers also make the cut as some of the more affordable Columbus, OH car insurance companies.
In the above example, if you are a policyholder with Erie and switched to Allied, you could see annual savings of about $11. Policyholders with Travelers may save as much as $29 a year, and USAA policyholders might realize rate reductions of up to $35 a year.
To discover how much you can save, click here to begin a quote or quote prices from the following companies.
It’s important to note that these estimates are averaged across all drivers and vehicles in Ohio and are not factoring in a vehicle location for 16 year olds. So the company that can offer you the lowest price may not even be in the top 33 companies in the list above. That affirms the importance of why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.
One of the many considerations that are looked at to determine the cost of insurance is where your residence is in Columbus. Areas with more people or more claims tend to have higher auto insurance costs, whereas areas with less congestion have the enjoyment of a little cheaper coverage.
The table below sorts the priciest cities in Ohio for 16 year olds to buy car insurance in. Columbus shows up at #4 with an annual cost of $1,235 on average, which is about $103 each month.
|Rank||City||Premium Per Year|
|Start a Quote Go|
Prices are comparative as the specific geographic location can increase or decrease premium rates greatly.
Auto insurance rates are higher with tickets and accidents
In a perfect world, the best way to snag cheap auto insurance rates in Columbus for new drivers is to drive safe and avoid accidents and traffic violations. The information below illustrates how traffic citations and fender-benders raise insurance prices for different age categories. The premiums assume a married female driver, full coverage, $100 deductibles, and no additional discounts are factored in.
In the previous chart, the average cost of car insurance per year with no accidents or violations is $1,345. Factor in two speeding tickets and the average cost hikes up to $1,917, an increase of $572 each year. Now throw in two accidents along with the two speeding tickets and the annual cost of auto insurance for 16 year olds goes up to an average of $3,966. That’s an increase of $2,620, or $218 per month, just for not keeping your driving record clean!
Insuring your vehicle with a high-quality car insurance provider is difficult considering how many different companies there are to choose from in Ohio. The ranking data listed below could help you choose which providers to look at comparing price quotes from. These ratings include companies that insure vehicles across America, so smaller companies are not included in the list.
Top 10 Major Car Insurance Companies in Columbus Ranked by Claims Service
- Liberty Mutual
- AAA Insurance
- Safeco Insurance
- The General
Top 10 Major Car Insurance Companies in Columbus Ranked by Value
- AAA Insurance
- Erie Insurance
- State Farm
- Liberty Mutual
- Safeco Insurance
- 21st Century
Here’s why you should shop around
Ohio auto insurance rates are determined by lots of factors that control the cost of coverage. Improving your credit rating, getting divorced, or getting a speeding ticket can trigger changes in premium resulting in some rates now being more affordable than the competition.
Additionally, insurance companies change prices as needed to reflect underwriting profits or losses. A period of higher than normal claims can result in rate hikes, while a lower level of claims can produce cheaper Columbus car insurance rates.
For example, the data below shows which company has the cheapest car insurance in Columbus, OH for a 40-year-old female driver with a clean driving record, no accidents, and excellent credit. When comparing rates based on her current risk factors, Utica National might quote the best car insurance rates in Columbus at $803 per year. This is $237 less than the average rate paid by Ohio drivers of $1,040. Erie, Allied, Travelers, and Frankenmuth are the remaining top five cheapest Columbus, OH auto insurance companies.
Let’s now give the driver in the first chart some claims, bad credit, and a traffic ticket or two. Due to the fact that each insurance company has a different formula for setting prices, comparing insurance quotes may now result in a significantly different list of the cheapest Columbus car insurance companies as shown below.
Merchants Insurance Group now has the cheapest car insurance in Columbus, OH with Cincinnati Insurance, Motorists Mutual, Grange Mutual, and General Casualty also having competitive pricing. This example proves why consumers need to perform an extensive rate comparison to get the most economical insurance rates for 16 year olds.
Car insurance prices are impacted by many things and change dramatically, so the cheapest rate the last time you shopped around may now be one of the more expensive options.
If you prefer to get some professional input when shopping for the best coverage for new drivers, the insurance agencies below are a good start to answer your questions and help you decide which insurance coverage will be best for you. To find a Columbus insurance agency close to you, click the link at the bottom.
Buddy White – State Farm Insurance Agent
1500 S Hamilton Rd – Columbus, OH 43227 – (614) 864-1050
Larry Noll – State Farm Insurance Agent
2648 Billingsley Rd – Columbus, OH 43235 – (614) 889-1156
Nationwide Insurance: Sylvia A Garrett Insurance Agency Llc
1 W Nationwide Blvd – Columbus, OH 43215 – (614) 249-2141
Nationwide Insurance: Robert Darnell Jackson Agency
2690 E Main St – Columbus, OH 43209 – (614) 235-5413
State Farm: Matt Simonds
2986 N High St – Columbus, OH 43202 – (614) 262-6700