Cheapest Auto Insurance Companies for Teen Drivers
As you should know already, teen drivers are one of the age groups who pay more for car insurance policies. This happens because of their short experience in driving and other characteristics that put them into the risk-driver category to insurers.
So, which are the cheapest car insurance companies for young drivers? Here we are giving you the top 10 cheapest car insurance companies for teen drivers.
- The Cincinnati
The Cincinnati Insurance Company is grounded in Ohio, and it is a car insurance company that sells moderately low-priced policies for teen drivers. They are a relatively minor company, occupying only 1% of the United States insurance market. Because of this, they are ranked as the 20th largest insurance company at a national level. Nevertheless, a teen driver could pay one of the cheapest car insurance quotes in zones where The Cincinnati is available. The PenguinValue.com report referenced before said that an average yearly insurance premium for teenage drivers at The Cincinnati costs $2969.00. Erie only beat these charges. There, teen drivers’ policies cost an average of $2411.00 annually.
- Grange Insurance Association
You might be surprised to find “Grange Insurance” twice on our list. Well, this is the explanation for it. In the United States, there are two distinct Grange Insurance, and both of them are car insurance companies that sell relatively low-priced policies to teen drivers. Grange Insurance Association is an excellent surrogate to other cheap insurers like Erie, or The Cincinnati, mainly when you live in the west area of the country. Nowadays, you can find Grange Insurance Association in California, Wyoming, Colorado, Washington, and Oregon. Data available online propose that with this company, teen drivers could expect reductions up to 75% compared to other car insurance companies’ rates. Therefore, getting a car insurance quote from them would be a good idea if you live in their “service area.”
- Country
Country Financial is a group of insurance companies in the United States who provide a wide spectrum of insurance products. Car insurance policies for teen drivers are one of these products. This company is grounded in Illinois, and it was created in 1925. Originally, it offered farmers fire and lightning insurance. Nowadays, this company sells its products in 19 states, generally in the Midwest area. According to a 2020 study published by J.D. Power Property Claims Satisfaction, Country was third among all American property insurance companies. They are well-known providers of relatively cheap car insurance for young drivers, so if you live in their “area of action”, getting a quote from them is a good idea.
- Grange Insurance
Before, we mentioned you would find Grange Insurance twice in our list, Grange Insurance Association in number four, and now Grange Insurance. Grange Insurance Association sells reasonably priced policies to California, Wyoming, Colorado, Washington, and Oregon drivers. Grange Insurance, instead, offers insurance in the south and Midwest areas of the country. There, they provide cheap comparative rates to young drivers.
- GEICO
You can find one of the cheapest car insurance companies for young drivers at GEICO. They are one of the Big Five insurance companies that offer this option. Some lists could say GEICO is the best car insurance company for teenage drivers, and it would not be a lie in some states like California, Delaware, Kansas, New Mexico, and Vermont, according to the ValuePenguin.com study mentioned before. Still, in other states, this is not entirely true. If you are shopping around for the cheapest car insurance companies for teenage drivers, you should request quotes from national insurers such as GEICO, State Farm, or Nationwide to get the best option. Conducting thorough research could guarantee a substantial saving of your money when purchasing car insurance for teen drivers.
You might find it a little hard to save money when buying your car insurance,with no matter which company, as a teen driver. Luckily, there are sufficient ways to save on car insurance available for you. Check the following list out:
- Be included in your parent’s policy: As a teenager, you should pay between $2500.00 and $4500.00 for car insurance annually. If you are included in your parent’s policy, the costs are significantly reduced, say between $1200.00 and 2000.00 every year. Your parent’s insurance agent could help you compare the prices and decide what to do.
- Drop comprehensive, and collision coverage: Comprehensive and collision coverage are not mandatory on your car insurance policy. Dropping these two types of coverage will decrease your costs a lot. The charges for repairing your old vehicle after an accident might be higher than even getting a new car. So, you could drop this insurance coverage if you drive an old car. If not, you should think carefully before renouncing comprehensive and collision coverage.
- Get good grades: When a teenager or a college student maintains good grades, several insurance companies could offer a discount on their policies. With a record that proves your good grades, you could contact your insurer and discuss your options.
- Pass a driver training course: Maybe you could get a discount from your insurance company if you are a teenager who has passed a driver training course. This way, your level of “risky driver” is minor from an insurance company’s point of view. The risk of an accident decreases when you take this kind of course.
If you are a young driver looking for a cheap car insurance quote, check out our top 5 cheapest car insurance companies for teen drivers. Get quotes from these companies to compare them and make you choose.
