Who Has Cheap Auto Insurance for Teenagers in New York?

The words “cheap” and “auto insurance” really don’t belong together, specifically when you are looking for the best insurance rates for teenagers. To save some money, let’s get started by showing you some of the things that can significantly affect car insurance rates, and find a few ways to reduce the cost of your next policy.

The car, truck, or SUV on the policy is a large factor when shopping for affordable auto insurance for teenagers. Vehicles with lower acceleration and performance, an excellent safety record, or a positive history of liability claims will cost quite a bit less to insure than adrenaline junky models. The lists below ranks car insurance premiums for some of the most cost-effective vehicles to insure in New York.

Premium data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate information does not factor in specific location information which can change insurance rates significantly.

Table data represents single male driver age 17, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, and claim-free. Prices do not factor in your specific New York location which can influence rates substantially.

Table data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate quotes do not factor in New York location which can raise or lower premiums substantially.

Comparing quotes for affordable insurance is not the easiest thing to do, and determining which insurers offer the lowest-priced auto insurance rates for teenagers requires more quotes for comparison. Premiums will be quite a bit more expensive than the average policy in New York, with the increase attributed to the higher likelihood of claims related to selling coverage for teen drivers, but economical coverage should be possible if you carefully shop around. Every car insurance company has a different process for setting prices, so first let’s look at the rankings for the auto insurance companies with the overall cheapest rates in New York.

It’s important to understand that New York auto insurance rates are based on many factors that may substantially change the cost of your policy. This is why it is important to shop around with many companies to find the best insurance rates for teenagers. Insurance prices are determined by many different factors and can increase or decrease at any time, so the best option the last time you shopped your coverage around may now be an over-priced policy.

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USAA has some of the best car insurance rates in New York at around $1,163 annually. Erie, Progressive, Utica National, and Allstate also are some of the best New York car insurance companies.

As shown in the table above, if you have coverage with Utica National and switched to USAA, you could see yearly savings of in the neighborhood of $386. Insureds with Allstate could save as much as $393 a year, and MetLife insureds might reduce prices by as much as $409 a year.

To find cheap auto insurance for teenagers in New York for your vehicle, click here to get a free quote or visit any of the companies below.

Bear in mind that those premiums are averaged across all ages of drivers and types of vehicles and and are not figured with a price surcharge for teenagers. So the auto insurance company that has the lowest price for you may not even be shown in the list of companies above. That point stresses why you need to quote rates from many companies using your own driver and vehicle profiles.

When shopping for cheaper auto insurance for teen drivers, one of the many things that is looked at to determine the annual cost of car insurance is where you choose to live in New York. Areas with more people like New York, Freeport, and Yonkers are more likely to have higher rates, whereas areas with less crime or weather claims generally pay less for auto insurance.

The following table rates the most costly cities in New York for teenagers to purchase auto insurance in.

Premium amounts are comparative as the garaging address in New York can impact insurance rates substantially.

Cost comparison with and without full coverage

Finding cheap auto insurance for teenagers in New York is important to most people, and one of the fastest ways to save on the cost of insurance is to buy liability only. The diagram below illustrates the comparison of auto insurance costs when comparing full coverage to liability only. The data assumes a clean driving record, no claims, $1,000 deductibles, single marital status, and no discounts are applied.

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As an average, comp and collision coverage costs $1,210 per year over having just liability coverage. That is a big expense that brings up the question if buying full coverage is a good investment. There is no exact rule of when to exclude comprehensive and collision coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is more than 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.

For example, let’s assume your vehicle’s book value is $4,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $3,000 after you pay the deductible. If it’s costing you more than $300 annually for your policy with full coverage, then you might consider buying liability only.

Poor driving habits will raise your auto insurance rates

The best way to obtain good auto insurance premiums in New York for teen drivers is to drive safe and avoid tickets and accidents. The illustration below demonstrates how speeding tickets and at-fault collisions can increase yearly insurance costs for each different age category. The rates are based on a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are taken into consideration.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and Two Accidents’],[‘Age 20’, 2125,2319,4123],[‘Age 30’, 1423,1613,3421],[‘Age 40’, 1335,1523,3333],[‘Age 50’, 1165,1357,3163],[‘Age 60’, 1131,1323,3129],[‘Age 70’, 1343,1533,3341]]);var options = {title: ‘Impact of Tickets and Claims on New York Auto Insurance Cost’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in New York’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the prior example, the average cost of car insurance per year with no violations or accidents is $1,420. Get written up for one speeding ticket and the average cost increases to $1,611, an increase of $191 each year. Now get two accidents along with the one speeding ticket and the 12-month cost of auto insurance for teenagers jumps again to an average of $3,418. That’s an increase of $1,998, or $167 per month, just for not being more responsible behind the wheel!

State Farm, Allstate, Geico, or Progressive: Who is best?

If you are shopping around for auto insurance for teen drivers, four of the best places to start are State Farm, Allstate, Geico, and Progressive. If you combine them together, they insure about 50% of all policies written. They all offer your standard coverages, but each one has a different combination of discounts, features, and options that buyers can choose from. The table below breaks down price and claims rank as well as some different options you can buy with each company.