You have probably seen the catchy commercials from car insurance companies like Liberty Mutual, Progressive, and GEICO that claim enormous savings, so you should just pick the one with the catchiest commercial, right?
That is not the case, however, as there are a whole bunch of unknowns like what coverage limits you want, if you are a man or woman, if you are currently insured, and your credit history. If you keep reading, we will teach you about the best ways to avoid high prices and should give you a solid foundation to find cheaper car insurance.
Deciphering which company has the most affordable insurance rates for teenagers will require a little more work than just comparing rates from one or two companies.
Each insurance company has a different process for determining rates, so let’s examine the most budget-friendly insurance companies in Virginia.
Best Auto Insurance Prices for Teens
|Rank||Company||Cost Per Year|
|9||Virginia Farm Bureau||$834|
|16||National Grange Mutual||$1,104|
|Quote Your Rates Go|
Travelers offers some of the best car insurance rates in Virginia Beach at around $673 each year. USAA, Penn National, Cincinnati Insurance, and Utica National also make the cut as some of the cheapest Virginia Beach, VA car insurance companies.
As shown above, if you currently have coverage with USAA and switched to Travelers, you may realize yearly savings of around $43. Insureds with Penn National might save as much as $53 a year, and Cincinnati Insurance policyholders might lower prices by $82 a year.
If you want to see how much you could save, click here to get quotes or click several companies below for low rates.
Be aware that those estimates are averages across all types of insureds and vehicles and do not take into consideration a specific vehicle garaging location for teenagers. So the auto insurance company that fits your age and vehicle best may not even be in the list above. That point stresses why you need to get car insurance quotes using your own specific driver and vehicle information.
The vehicle you are seeking coverage for is probably the largest consideration that determines the availability of the cheapest coverage for teenagers. Vehicles with average performance, modern passenger safety features, or a low likelihood of liability claims will cost quite a bit less to insure than adrenaline junky models. The data below ranks insurance rates for a number of the most budget-friendly vehicles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$4,342|
|Honda CR-V EX 4WD||$4,383|
|Ford Edge SEL 2WD||$5,114|
|Toyota Camry LE||$5,154|
|Toyota RAV4 Sport 2WD||$5,164|
|Chevrolet Equinox LT AWD||$5,154|
|Volkswagen Jetta LE 4-Dr Sedan||$5,161|
|Ford F-150 FX2 2WD||$5,192|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$5,197|
|Dodge Grand Caravan SXT||$5,192|
|Ford Explorer Limited AWD||$5,201|
|Ford Focus SES 4-Dr Sedan||$5,377|
|Hyundai Elantra Blue 4-Dr Sedan||$5,385|
|Toyota Corolla S||$5,417|
|Honda Odyssey EX-L||$5,426|
|Chevrolet Impala LTZ||$5,417|
|Jeep Grand Cherokee Limited 4WD||$5,455|
|Chevrolet Malibu LTZ||$5,465|
|Chevrolet Silverado LTZ Extended Cab 4WD||$5,455|
|GMC Sierra SL Crew Cab 2WD||$5,464|
|Ford Fusion SEL 4-Dr Sedan||$5,455|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$5,467|
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Table data assumes single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include claim-free, and safe-driver. Rates do not factor in your specific Virginia Beach, VA location which can lower or raise premium rates substantially.
By looking at the data, we can presume that makes and models like the Ford Escape, Honda CR-V, Toyota Prius, and Ford Edge are likely to be a few of the most budget-friendly vehicles to insure for teen drivers. Rates will tend to be higher just because there is more claim exposure for teenagers, but in general those particular vehicles will probably have the cheapest auto insurance rates compared to other types of vehicles.
The information below highlights how deductible selection can increase or decrease insurance costs when quoting cheap insurance for teenagers. The prices are based on a married female driver, full coverage, and no discounts are taken into consideration.
The chart above illustrates that a 30-year-old driver could lower their policy premium by $204 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $310 by changing to a $1,000 deductible. Even younger insureds, like the 20-year-old category, have the ability to save up to $436 annually just by using higher deductibles. When raising deductibles, it is important to have additional funds in a savings account to be able to cover the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Get discount Virginia Beach insurance rates
Auto insurance companies that provide coverage for teenagers may also give you price discounts that could reduce prices by as much as 40% or more if you are eligible to receive them. Large insurance companies and their offered discounts are:
- GEICO may have discounts that include air bags, driver training, military active duty, emergency military deployment, anti-theft, and multi-vehicle.
- SAFECO offers discounts for homeowner, teen safe driver, teen safety rewards, bundle discounts, anti-theft, and safe driver.
- State Farm may include discounts for Steer Clear safe driver discount, defensive driving training, Drive Safe & Save, good driver, passive restraint, driver’s education, and student away at school.
- MetLife includes discounts for good driver, good student, claim-free, accident-free, defensive driver, and multi-policy.
- 21st Century has discounts for driver training, good student, anti-lock brakes, defensive driver, early bird, homeowners, and air bags.
- Progressive offers discounts including multi-vehicle, online quote discount, online signing, multi-policy, homeowner, continuous coverage, and good student.
The example below compares insurance costs with and without some available policy discounts. The premiums are based on a female driver, no violations or claims, Virginia state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with paid-in-full, passive restraint, vehicle safety, continuous coverage, good student, and paperless filing discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on insurance for teenagers is 28% or $623.
Comparing rates can save you money
Virginia Beach, VA insurance rates are influenced by many factors that control the cost of a policy. Simply having a birthday, getting divorced, or getting a ticket for careless driving can trigger changes in premium that can cause some rates to be much cheaper than others.
Not only may things change on your end, but companies change rates as needed in order to protect their financial rating. Significantly higher claims may cause additional premium costs, while lower claim levels may result in cheaper Virginia Beach car insurance rates.
For example, the chart below shows the cheapest car insurance in Virginia Beach, VA for a 40-year-old female driver with no prior claims, no tickets, and solid credit. If we compare prices based on her current risk profile, Travelers may have the cheapest car insurance rates in Virginia Beach at $798 a year. This is $360 less than the average price paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and The Hartford are the rest of the top five cheapest Virginia Beach, VA auto insurance companies.
Now let’s give the driver in the first example an accident surcharge, poor credit, and a few traffic violations. Since each auto insurance company has a different process for setting prices, analyzing rates will most likely result in a new list of the cheapest car insurance companies in Virginia Beach as shown below.
Utica National now has the cheapest price in Virginia Beach with Erie, Virginia Farm Bureau, Donegal Mutual, and Nationwide completing the list. This example shows why it is so important to compare many different companies to get cheap insurance quotes for teenagers. Auto insurance prices consist of many things and can change substantially, so the best option the last time you checked may now be one of the higher cost companies.