When we talk about auto insurance, the words “affordable” or “cheap” really shouldn’t be used anywhere in the article as a descriptor for car insurance rates. Regardless, cheap car insurance for 16 year olds does not exist. Don’t let that bother you, though, because we are going to tell you how you can still get coverage that doesn’t cost an arm and a leg.
For New York drivers, one of the components that is looked at to determine car insurance rates is where you normally keep your vehicle in New York. Areas with high crime rates or more dense population like New York, Hempstead, and Yonkers tend to have higher rates, whereas areas with less traffic congestion and claims benefit from lower coverage costs.
The illustration below lists the highest-priced places in New York for 16 year olds to buy an auto insurance policy in.
|Rank||City||Average Per Year|
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Annual rates are estimated as specific location information can influence coverage prices noticeably.
Trying to buy cost effective car insurance is not the easiest thing to accomplish, and determining which company has the best car insurance rates for 16 year olds calls for a bit more work. Premiums will more than likely be significantly higher than the average rate in New York attributed to the potential for more claims that goes along with offering insurance for new drivers, but competitive coverage should be possible if you look hard enough. Every auto insurer has a proprietary method for determining rates in each state, so we need to take a look at the most affordable car insurance companies in New York.
Cheap Insurance Rates for Teens
|Rank||Company||Cost Per Year|
|11||New York Central Mutual||$1,892|
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USAA has some of the lowest car insurance rates in New York at around $1,187 annually. Erie, Utica National, Progressive, and Travelers also qualify as some of the more affordable New York insurance companies.
As shown in the rates above, if you are currently insured with Progressive and switched to Erie, you might see a yearly price reduction of approxmiately $307. Customers with Travelers might save as much as $354 a year, and MetLife insureds might cut rates by $383 a year.
To find out how much you can save, click here to start a quote or visit any of the companies below.
Understand that those policy prices are averages across all insureds and vehicles and and are not figured with a rate increase for 16 year olds. So the car insurance company that can offer you the best price may not even be featured in the chart above. That affirms the importance of why you need to get rate quotes from many companies using your own driver and vehicle profiles.
The vehicle you are insuring is probably the most important factor when quoting the best cheap auto insurance for 16 year olds in New York. Vehicles with average performance, a plethora of safety features, or a track record of few liability claims will cost quite a bit less to insure than adrenaline junky models.
The table below presents insurance costs for a handful of the more afforable vehicles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$2,129|
|Ford Escape XLS 4WD||$2,136|
|Chevrolet Traverse LS AWD||$2,175|
|Honda Accord EX-L 4-Dr Sedan||$2,302|
|Subaru Forester X Limited Edition AWD||$2,347|
|Ford Explorer XLT 2WD||$2,374|
|Ford Focus SE 4-Dr Sedan||$2,503|
|Ford Edge SEL AWD||$2,508|
|Ford Fusion S 4-Dr Sedan||$2,525|
|Chevrolet Equinox LS AWD||$2,533|
|Hyundai Tucson Limited 4WD||$2,525|
|Volkswagen Jetta LE 4-Dr Sedan||$2,531|
|Toyota RAV4 Limited 2WD||$2,525|
|Chevrolet Impala LT||$2,531|
|Dodge Grand Caravan SXT||$2,549|
|Subaru Outback 2.5I Limited||$2,557|
|Ford F-150 Lariat Crew Cab 2WD||$2,549|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$2,556|
|Honda Civic LX 4-Dr Sedan||$2,653|
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Table data represents single female driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in specific New York garaging location which can revise premium rates greatly.
Based on these rates, you can presume that cars like the Honda CR-V, Ford Escape, Chevrolet Traverse, Honda Accord, and Toyota Prius should be the most affordable vehicles to insure for new drivers. Rates will be more costly just because there is more claim exposure for 16 year olds, but overall those makes and models will tend to have the cheapest car insurance rates compared to other vehicles.
The easiest way to obtain the best cheap auto insurance for 16 year olds in New York is to drive carefully and not have accidents or get tickets. The example below demonstrates how citations and at-fault accidents can impact annual premium costs for different age groups of insureds. The information is based on a single female driver, full coverage, $500 deductibles, and no policy discounts are applied.
The chart shows that the average cost of an auto insurance policy in New York per year with no violations or accidents is $1,590. Factor in two speeding tickets and the average cost hikes up to $2,125, an increase of $535 each year. Next add one accident along with the two speeding tickets and the annual cost of car insurance for 16 year olds jumps again to an average of $2,674. That’s an increase of $1,084, or $90 per month, just for not maintaining a clean driving record!
Buying coverage from the best company is difficult considering how many companies provide coverage in New York. The information shown below could help you analyze which companies you want to consider when comparing insurance rates for 16 year olds. The rankings below include the companies with a significant amount of written premium nationwide, so companies that have a smaller presence are not included in this list.
When it comes to buying auto insurance, four companies to take a look at are Geico, State Farm, Allstate, and Progressive. If you add them together, they insure over 48% of all auto insurance policies in force. The table below shows some of the different features offered by each one.
|U.S. market share||11.4%||18.3%||10%||8.8%|
|A.M. Best financial rating||A++||A++||A+||A+|
|Standard & Poor’s rating||AA+||AA||AA-||AA|
|New car replacement||No||No||Yes||No|
|Mechanical breakdown insurance||Yes||No||No||Yes|
|Emergency roadside assistance||Yes||Yes||Yes||Yes|
|Accident forgiveness coverage||Yes||No||Yes||Yes|
|Rate for vehicle usage||No||Yes||Yes||Yes|
|Uber and Lyft insurance||Yes||Yes||Yes||Yes|
|Offered in New York||Yes||Yes||Yes||Yes|
|Where you can buy||Online or through a Geico agent||Only from State Farm agents||Allstate exclusive agents||Buy online or from an independent agent|
|Number of agents||150+||18,000+||11,000+||30,000+|
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