The words “cheap” and “insurance” probably shouldn’t be used in the same sentence, especially when comparison shopping for the cheapest auto insurance for drivers under 21. To save some money, let’s teach you a few of the factors that determine auto insurance prices, and find a few ways to take the sting out of your next policy.
The vehicle model you are buying coverage for is a large factor that determines whether or not you find the most economical insurance for drivers under 21. Vehicles with lots of horsepower, poor safety ratings, or an increased likelihood of liability claims will cost quite a bit more to insure than more economical and safe models. The information below shows insurance rates for a number of the most budget-friendly vehicles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$3,576|
|Honda CR-V EX 2WD||$3,586|
|Hyundai Elantra SE Touring Station Wagon||$3,858|
|Honda Odyssey LX||$3,960|
|Ford F-150 XL Crew Cab 2WD||$4,001|
|Dodge Grand Caravan CV||$4,011|
|Ford Explorer XLT 2WD||$4,001|
|Chevrolet Silverado LT Extended Cab 4WD||$4,243|
|Chevrolet Malibu LS||$4,249|
|Toyota Tacoma Double Cab 4WD||$4,243|
|Toyota RAV4 Limited 4WD||$4,252|
|GMC Sierra SLE Regular Cab 2WD||$4,243|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$4,404|
|Honda Civic EX 4-Dr Sedan||$4,444|
|Ford Focus SES 4-Dr Sedan||$4,451|
|Toyota Corolla LE||$4,485|
|Toyota Camry XLE||$4,495|
|Chevrolet Impala LTZ||$4,485|
|Ford Edge Sport AWD||$4,495|
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Prices above based on single female driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include claim-free, and safe-driver. Table data does not factor in Virginia Beach, VA location which can change coverage rates substantially.
Looking at the rates, we can assume that vehicles like the Ford Escape, Honda CR-V, and Hyundai Elantra are a few of the most affordable vehicles to insure for minors. Rates will tend to be higher because of the fact that there is more claim exposure for drivers under 21, but overall those particular models will tend to have the best insurance prices possible.
Determining which company has the cheapest insurance rates for drivers under 21 involves a tad more effort than just quoting one company’s rates.
Every insurance company used slightly different criteria for establishing rates, so we’ll go over the insurance companies that tend to be cheaper in Virginia. It’s important that readers know that Virginia Beach, VA insurance rates are calculated based on many things that control the price you have to pay. Getting older, buying higher coverage limits, or getting a reckless driving citation can trigger changes in premium that can now make some companies affordable when they were higher priced.
Lowest Insurance Price Quotes for Minors
Travelers may have some of the cheapest car insurance rates in Virginia Beach at around $673 each year. USAA, Penn National, Cincinnati Insurance, and Auto-Owners also are some of the lowest-priced Virginia Beach, VA insurance companies.
In the above rates, if you are insured with USAA and switched to Travelers, you could earn an annual savings of about $43. Virginia drivers with Penn National might save as much as $67 a year, and Cincinnati Insurance insureds might see rate reductions of $68 a year.
Be aware that those rates are averaged across all drivers and vehicles and do not factor in a specific location for drivers under 21. So the car insurance company that is best for you may not even be in the list above. That is why you need to quote rates from many companies using your own personalized driver profile and vehicle information.
Drive safe and save
The ideal way to score cheap insurance premiums for minors is to be a good driver and not get tickets or have accidents. The example below illustrates how speeding tickets and at-fault collisions raise insurance rates for different categories of driver ages. The premiums are based on a single female driver, comp and collision included, $100 deductibles, and no additional discounts are factored in.
The chart shows that the average cost of auto insurance in Virginia per year with no accidents and a clean driving record is $1,877. Get one speeding ticket and the average cost jumps to $2,127, an increase of $251 each year. Now include two accidents along with the one speeding ticket and the yearly cost of insurance for drivers under 21 goes up to an average of $4,241. That’s an increase of $2,365, or $197 per month, just for being a careless driver!
Get discounts on Virginia Beach insurance
Car insurance companies that sell policies for drivers under 21 may have policy discounts that could potentially reduce rates by as much as 35% or more if you meet the requirements. A few popular companies and a selection of discounts are detailed below.
- GEICO offers premium reductions for multi-vehicle, anti-lock brakes, driver training, air bags, seat belt use, anti-theft, and emergency military deployment.
- Auto-Owners Insurance discounts include student away at school, group or association, air bags, mature driver, safe driver, and paid in full.
- American Family includes discounts for Steer into Savings, TimeAway discount, air bags, mySafetyValet, and good student.
- Esurance policyholders can earn discounts including safety device, paid-in-full, anti-lock brakes, claim free, emergency road assistance, renters, and homeowner.
- Progressive may have discounts that include online quote discount, continuous coverage, online signing, multi-vehicle, homeowner, and good student.
- State Farm has savings for multiple autos, anti-theft, good driver, accident-free, driver’s education, and student away at school.
- AAA may include discounts for multi-policy, AAA membership discount, multi-car, good student, and anti-theft.
The example below illustrates the comparison of insurance prices with and without some available policy discounts. The data assumes a male driver, no accidents, no driving violations, Virginia state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with good student, vehicle safety, passive restraint, paperless filing, continuous coverage, and paid-in-full discounts applied. When discounts are factored in, the average amount saved each year on insurance for drivers under 21 is 28% or $377.
The importance of comparing Virginia Beach car insurance rates
Virginia Beach, VA insurance rates are based on many factors which can substantially change the cost of having a policy. Simply improving your credit, marrying your spouse, or getting a reckless driving citation can trigger changes in premium that may make certain companies cheaper than before. Also, companies file new Virginia car insurance rates at least once a year to adjust for gains or losses. Significantly higher losses can cause more expensive prices, while long-term profits may produce cheaper Virginia Beach car insurance rates.
As an example, the graph below shows rates for the cheapest car insurance in Virginia Beach, VA for a 30-year-old female driver with a clean driving record, no accidents, and a decent credit rating. If we look at prices based on her current risk factors, Travelers has the cheapest car insurance rates in Virginia Beach at $782 per year. This is $376 less than the average rate paid by Virginia drivers of $1,158. USAA, Penn National, Auto-Owners, and Cincinnati Insurance round out the rest of the best Virginia Beach, VA auto insurance companies.
In this next rate comparison, we will give the driver from the first set of rates a claim surcharge, a lower credit rating, and an imperfect driving record. Due to the fact that every insurance company has a unique formula for determining rates in each state, getting updated rate quotes most likely will result in a substantially altered list of the cheapest car insurance companies in Virginia Beach as shown below.
The Hartford now has the best insurance rate in Virginia Beach, VA with Erie, Virginia Farm Bureau, Donegal Mutual, and Nationwide also being competitive. This shows why it is critical to compare as many rates as possible when trying to find the cheapest auto insurance quotes for drivers under 21.
Prices can be altered by many risk factors and change frequently, so the cheapest rate two years ago may now be quite expensive.
The agents below can help you decide which car insurance company is the best fit, since lots of drivers aren’t clear which coverage they need and would like to have professional advice when buying car insurance for drivers under 21. It can be time-consuming to find the cheapest car insurance policy, and agents can give peace of mind knowing you have sufficient coverage for your assets.
To locate a Virginia Beach insurance agent close to where you live, click the button link following the list or click here to compare prices now.
Bill Wright – State Farm Insurance Agent
4316 Virginia Beach Blvd – Virginia Beach, VA 23452 – (757) 486-4000
Nationwide Insurance: Mayo Insurance Agency Inc
1917 Laskin Rd Ste 101 – Virginia Beach, VA 23454 – (757) 496-5685
Hampton Roads Insurance
633-D Independence Blvd – Virginia Beach, VA 23462 – (757) 285-4754
John White State Farm®
1776 Princess Anne Rd – Virginia Beach, VA 23456 – (757) 426-2886
How to find economical auto insurance for drivers under 21
Here are many thrifty solutions that can help drivers buy cheaper auto insurance.
- Save money by staying claim-free
- Buying your home and auto policies from the same company can earn a discount
- Assess whether full coverage is needed
- Just one traffic violation will increase your rates
- Remain accident-free and save
- Safer vehicles generally have cheaper insurance rates
- Keep rates low by comparing prices once a year
That last tip is notably critical, as was affirmed in the prior information. Prices charged by auto insurers adjust frequently, so don’t be afraid to switch to a new company if a more affordable price is available. Having brand loyalty is commendable, but it’s not a great idea if that faithfulness ends up costing you money that could be going to better use. If you have a few minutes, shop around and find cheaper insurance for drivers under 21 in Virginia Beach.