The words “economical” and “insurance” really shouldn’t be used in the same sentence, specifically when shopping around for the best price on coverage for young drivers. To help control this cost, let’s start off by going over a few of the things that can significantly affect insurance premiums, and find some ways to slash the price of the next policy you buy.
The vehicle you are buying coverage for is a significant factor that determines whether or not you find the most economical coverage for young drivers. Vehicles with reasonable performance levels, excellent safety ratings, or a track record of few liability claims will cost substantially less to insure than high performance models. The table below features insurance prices for a number of the most budget-friendly vehicles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $3,490 |
| Ford Escape XLS 2WD | $3,497 |
| Honda CR-V EX-L 2WD | $3,522 |
| Jeep Wrangler Sport 4WD 2-Dr | $3,678 |
| Volkswagen Jetta S 2.5 Station Wagon | $3,734 |
| Toyota Prius | $3,768 |
| Toyota Tacoma 4WD | $3,924 |
| Dodge Grand Caravan SE | $3,929 |
| Ford F-150 STX Super Cab 4WD | $3,958 |
| Ford Focus SE 4-Dr Sedan | $4,104 |
| Ford Edge SEL 2WD | $4,112 |
| Honda Odyssey EX W/Rear Entertainment | $4,104 |
| Chevrolet Impala LS | $4,111 |
| Toyota RAV4 Limited 4WD | $4,136 |
| Chevrolet Equinox LS 2WD | $4,144 |
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Table data assumes single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include safe-driver, and claim-free. Prices do not factor in your specific Lincoln, NE location which can alter price quotes substantially.
Based upon the table data, we can tell that makes and models like the Hyundai Elantra, Ford Escape, and Honda CR-V will be a few of the cheapest vehicles to insure for youthful drivers. Auto insurance rates will trend higher just because there is more inherent risk for young drivers, but in general those particular vehicles will most likely have the least expensive rates that you’ll find.
One of the more important considerations that help determine the cost of insurance is where you keep your car. Areas with a lot of weather claims or more people tend to have more expensive car insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates have the enjoyment of a little cheaper coverage.
The following table ranks the priciest cities in Nebraska for young drivers in which to buy car insurance. Lincoln is listed at #24 with a yearly cost of $1,106 for coverage, which is around $92 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Alliance | $1,354 |
| 2 | Scottsbluff | $1,320 |
| 3 | McCook | $1,318 |
| 4 | Gering | $1,317 |
| 5 | South Sioux City | $1,303 |
| 6 | Lexington | $1,303 |
| 7 | North Platte | $1,301 |
| 8 | Omaha | $1,270 |
| 9 | Kearney | $1,236 |
| 10 | Blair | $1,236 |
| 11 | Nebraska City | $1,224 |
| 12 | Beatrice | $1,222 |
| 13 | Crete | $1,198 |
| 14 | Hastings | $1,193 |
| 15 | Seward | $1,179 |
| 16 | Bellevue | $1,179 |
| 17 | Columbus | $1,174 |
| 18 | Fremont | $1,166 |
| 19 | La Vista | $1,162 |
| 20 | Grand Island | $1,158 |
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Premium amounts are approximated as the specific zip code location can decrease or increase rates substantially.
Tickets and at-fault accidents raise rates
The easiest way to score the cheapest car insurance prices in Lincoln for youthful drivers is to be a careful driver and not have accidents or get tickets. The illustration below illustrates how violations and accidents can increase insurance rates for different age categories. The rate quotes are based on a single female driver, full coverage, $1,000 deductibles, and no other discounts are factored in.
In the previous chart, the average cost of an auto insurance policy in Nebraska per year with no accidents and a clean driving record is $1,302. Receive one speeding ticket and the average cost rises to $1,477, an increase of $175 each year. Then add in one accident along with the one speeding ticket and the yearly cost of car insurance for young drivers increases to an average of $1,961. That’s an increase of $659, or $55 per month, just for not keeping your driving record clean!
The diagram below shows how choosing a deductible can raise or lower premium costs when getting quotes for cheap insurance for young drivers. The information is based on a married female driver, comp and collision included, and no policy discounts are applied.
The data above shows that a 50-year-old driver could lower their policy premium by $276 a year by changing from a $100 deductible up to a $500 deductible, or save $416 by selecting a $1,000 deductible. Young drivers, like the Age 20 category, can cut up to $684 annually just by choosing higher deductibles. If you make the decision to raise deductibles, it will now be necessary to have enough savings set aside to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Selecting a good quality car insurance provider can be challenging considering how many companies sell coverage in Lincoln. The company ratings in the lists below may help you select which companies to look at when comparing rate quotes.
The rankings below only include the companies with a significant amount of written premium nationwide, so smaller companies are not included in this list. To check rates from these and other companies in Nebraska, just click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
The Lincoln, NE, insurance agents below are a good start to help you make a decision which insurance coverage you need, since some drivers aren’t sure which coverage they need and prefer to have a consultation when comparing insurance rates for youthful drivers. It can be difficult to find the cheapest car insurance policy, so insurance agents licensed in the state of Nebraska can give you comfort knowing you have adequate protection in the event of a claim.
To find a Lincoln insurance agent close to where you live, click the link after the list or click here to compare rates now.
Gary Thompson Agency, Inc.
4200 Lucile Dr a200 – Lincoln, NE 68506 – (402) 475-2609
State Farm: Vinnie Krikac
935 Plum St – Lincoln, NE 68502 – (402) 474-1173
Buethe and Associates Insurance Agency
2337 S 13th St – Lincoln, NE 68542 – (402) 474-2063
More insurance agents in Lincoln, NE
Tips for finding economical car insurance for young drivers
The list below summarizes many thrifty ideas that can help Lincoln drivers find lower-cost auto insurance.
- Raise physical damage deductibles
- If your vehicles are older, consider dropping full coverage
- Avoid getting tickets or violations
- Try to not file small claims
- Avoid preventable accidents
- Compare rate quotes frequently
The final tip is remarkably important, as was affirmed in the article above. Insurance prices fluctuate constantly, so don’t be hesitant to change to a new company if a lower-cost policy is available.
Being loyal to a particular company is commendable, but it’s not a good idea if that loyalty ends up costing thousands of dollars over the life of your policy. Now is a great time to compare prices to find cheaper car insurance for young drivers in Lincoln.