Wouldn’t life be so easy if you could just know the one company that has the best rates for high school students? It’s just not that easy, however, as there are a lot of unknown aspects such as your financial responsibility, if you have a spouse, when you were born, and whether you just need liability insurance. The information below covers the different ways to avoid overpaying and hopefully give you enough understanding to have a solid foundation to find cheaper car insurance.
The type of vehicle to be insured is a significant factor when consumers are trying to find cheaper coverage for high school students. Vehicles with higher performance characteristics, poor crash test ratings, or a track record of large liability claims will cost significantly more to insure than safer, lower-performance models. The list below shows auto insurance prices for some of the most budget-friendly automobiles to insure.
|Vehicle||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$4,818|
|Honda CR-V LX 2WD||$4,823|
|Ford Escape XLT 4WD||$4,874|
|Hyundai Elantra SE Touring Station Wagon||$5,195|
|Ford F-150 XLT Regular Cab 2WD||$5,341|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$5,349|
|Toyota Tacoma 4WD||$5,397|
|Ford Explorer XLT AWD||$5,407|
|Dodge Grand Caravan CV||$5,397|
|Honda Odyssey EX W/Rear Entertainment||$5,661|
|Ford Edge SEL 2WD||$5,668|
|Ford Focus S 4-Dr Sedan||$5,661|
|Jeep Grand Cherokee Laredo 2WD||$5,718|
|Volkswagen Jetta S 4-Dr Sedan||$5,728|
|Chevrolet Equinox LS 2WD||$5,718|
|Toyota Camry LE||$5,727|
|Chevrolet Malibu LS||$5,718|
|Chevrolet Impala LT||$5,723|
|Toyota RAV4 4WD||$5,718|
|Honda Civic LX-S 4-Dr Sedan||$5,984|
|Nissan Altima 2.5 S 4-Dr Sedan||$6,041|
|Toyota Corolla S||$6,049|
|Compare Cheap Rates Go|
Premium data assumes single male driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Arizona minimum liability limits. Discounts applied include safe-driver, and claim-free. Table data does not factor in specific garaging location which can change price quotes substantially.
Based upon the rates shown, you can conclude that models like the Honda Accord, Honda CR-V, Ford Escape, Hyundai Elantra, and Toyota Prius should be a few of the cheapest vehicles to insure for teenagers. The cost of auto insurance will tend to be more expensive just because there is a higher risk for high school students, but overall those specific models will most likely have the cheapest auto insurance rates compared to all other vehicles.
One of the more important components that are looked at to determine auto insurance rates is where you choose to live. Areas with a lot of weather claims or more people are more likely to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims have the gratification of cheaper auto insurance rates.
The illustration below sorts the most costly cities in Arizona for high school students to buy car insurance in. Chandler is ranked at #9 with an annual premium of $1,126 on average, which is approximately $94 per month.
|Rank||City||Average Per Year|
|3||San Tan Valley||$1,196|
|Start a Quote Go|
Information shown are comparative as the specific zip code location can lower or raise insurance rates greatly.
Comparing quotes for cost effective car insurance is not easy, and determining which companies quote the cheapest insurance rates for high school students calls for additional perseverance. Each auto insurance company uses their own calculation for establishing rates, so first we will examine the insurance companies with the overall best prices in Arizona.
It’s important to know that Arizona insurance rates are determined by lots of factors which can substantially change the cost of your policy. This price variability is why it is critical to compare lots of rates to find affordable car insurance quotes for high school students. Rates are influenced by many factors and change frequently, so the best company a year ago may now be an over-priced policy.
Find Cheaper Car Insurance for Students
|Rank||Company||Cost Per Year|
|11||Farm Bureau Mutual||$1,285|
|Compare Rates Now Go|
The Hartford has some of the lowest car insurance rates in Chandler at around $845 a year. This is $583 less than the average policy premium paid by Arizona drivers of $1,428. Safeco, Auto-Owners, USAA, and Travelers would also be considered some of the lowest-priced Chandler, AZ car insurance companies.
As illustrated above, if you currently have a policy with Travelers and switched to Safeco, you could earn annual savings of about $203. Customers with Progressive could save as much as $225 a year, and GEICO insureds might reduce prices by as much as $261 a year.
Bear in mind that those estimates are averaged across all ages of drivers and types of vehicles and are not factoring in a specific location for high school students. So the insurer that is best suited for you may not even be in the list above. That points out the importance of why you need to compare prices as often as possible using your own driver information and specific vehicle type.
Violations and accidents raise rates
The easiest method to snag low insurance premiums for teenagers is to drive carefully and have a clean driving record. The information below demonstrates how citations and at-fault claims can influence annual premium costs for each age group. The costs are based on a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are taken into consideration.
The chart shows that the average cost of car insurance per year with no violations or accidents is $1,207. Get written up for one speeding ticket and the average cost hikes up to $1,369, an increase of $162 each year. Now include one accident along with the one speeding ticket and the annual cost of insurance for high school students increases to an average of $1,814. That’s an increase of $607, or $51 per month, just for not driving safely!
Full coverage versus liability only rates
Finding the cheapest insurance is important to most vehicle owners, and one of the easiest ways to find cheap insurance for high school students is to buy liability only. The diagram below shows the comparison of auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes no claims or driving violations, $100 deductibles, marital status is single, and no discounts are factored in.
If we average the cost for ages 20 through 70, physical damage coverage on your policy costs $1,722 per year more than just buying liability insurance. That brings up the question if it’s worth it to buy full coverage. There is no definitive guideline for eliminating physical damage coverage, but there is a general guideline. If the annual cost of coverage is more than around 10% of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
For example, let’s say your vehicle’s book value is $10,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would receive is $9,000 after the deductible is paid. If you are paying more than $900 a year for your policy with full coverage, then it might be time to buy liability only.
Your low-price policy may be costing you money
Arizona insurance rates are calculated based on many things that can increase your annual premium. Improving your credit score, buying higher coverage limits, or getting into an accident can cause premium changes resulting in some rates now being more affordable than others.
Not only that, but car insurance companies change the rates they charge in Arizona every year or even multiple times each year as an adjustment for underwriting gains or losses. Unexpectedly high claims can result in higher prices, while lower claim levels may produce lower-cost Chandler car insurance rates.
For example, the graph below shows the companies that have the cheapest car insurance in Chandler, AZ for a 45-year-old male driver with no violations or accidents, and good financial standing. Based on his current situation, The Hartford may offer the cheapest car insurance rates in Chandler at $1,072 annually. This is $356 less than the average premium paid by Arizona drivers of $1,428. Auto-Owners, Safeco, USAA, and Travelers are the remainder of the cheapest Chandler, AZ auto insurance companies.
In this example, we will give the driver from the first rate comparison a chargeable accident, a lower credit rating, and a blemish on his driving record. Due to the fact that every insurance company has their own formula for setting rates, comparing quotes could now result in a substantially altered list of affordable companies as shown below.
GEICO now has the lowest price in Chandler with Allied, Ameriprise Group, CSAA, and Auto-Owners now being in the top five. This example illustrates why Arizona drivers need to compare as many rates as possible to find the most economical insurance rates for high school students. Auto insurance prices are calculated by many factors and can decrease or increase without notice, so the cheapest rate the last time you shopped around may now be wasting a lot of money.