The words “cheap” and “insurance” really should not be used together, specifically when you are searching for the cheapest car insurance for 17 year olds. Because of the high cost, let’s familiarize you with a few of the factors that have an impact on insurance prices, and see if you can reduce the price of your next policy.
The make and model of vehicle on the policy is one of the largest factors when trying to find cheaper insurance for 17 year olds. Vehicles with average performance, excellent safety ratings, or a low likelihood of having liability claims will cost significantly less to insure than high performance models.
The information below presents car insurance costs for a selection of the most economical vehicles to buy insurance for.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$3,180|
|Honda CR-V EX 2WD||$3,186|
|Jeep Wrangler Sport 4WD 2-Dr||$3,322|
|Honda Odyssey LX||$3,530|
|Ford F-150 STX Super Cab 2WD||$3,539|
|Volkswagen Jetta S 4-Dr Sedan||$3,768|
|Jeep Grand Cherokee Laredo 2WD||$3,777|
|Chevrolet Malibu LS||$3,768|
|Chevrolet Impala LT||$3,773|
|Toyota RAV4 Sport 2WD||$3,768|
|Dodge Grand Caravan Hero||$3,777|
|Ford Explorer Limited 2WD||$3,802|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$3,811|
|Chevrolet Silverado LS Regular Cab 2WD||$3,834|
|Ford Focus SEL 4-Dr Sedan||$3,944|
|Hyundai Elantra Blue 4-Dr Sedan||$3,949|
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Premium data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include claim-free, and safe-driver. Table data does not factor in vehicle garaging location which can revise rates substantially.
By looking at the data, we can infer that models like the Ford Escape, Honda CR-V, and Jeep Wrangler are likely to be some of the cheaper vehicles to insure for teen drivers. The price of auto insurance will tend to be more expensive just because there is more claim risk for 17 year olds, but generally speaking those particular models will probably have the lowest prices compared to other vehicles.
Buying reasonably-priced auto insurance is tough enough, and determining which company offers the cheapest insurance rates for 17 year olds requires even more perseverance. Each insurance company has their own unique process to set premium rates, so we’ll go over the insurance companies with the overall cheapest rates in Lincoln.
It’s important that readers know that Lincoln, NE insurance rates are calculated based on many things that will increase or decrease the cost of your policy. Improving your credit score, buying a newer car, or having an at-fault accident can trigger price changes that can now make some companies cheaper than others.
Find the Best Cheap Insurance for Teens
|Rank||Company||Cost Per Year|
|5||Farmers Mutual of Nebraska||$979|
|6||Farm Bureau Mutual||$980|
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Safeco may offer some of the best car insurance rates in Lincoln at around $788 per year. This is $528 less than the average premium paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farmers Mutual of Nebraska also are some of the most economical Lincoln, NE insurance companies.
In the above example, if you are a policyholder with The Hartford and switched to Safeco, you could see annual savings of in the neighborhood of $59. Insureds with Auto-Owners could save as much as $117 a year, and Allied customers might cut rates by $123 a year.
Understand that those estimates are averages for all types of insureds and vehicles and are not factoring in a specific vehicle garaging location for 17 year olds. So the auto insurance company that is best suited for you may not even be in the top 24 companies in the list above. That illustrates why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.
For teen drivers, one of the big things that are looked at to determine the cost of insurance is where you call home. Areas with more people or more claims are more likely to pay higher prices, whereas areas with fewer weather claims and lower vehicle theft rates have the benefit of cheaper auto insurance prices.
The following table ranks the most expensive places in Nebraska for 17 year olds in which to purchase auto insurance. Lincoln is listed at #23 with an annual cost of $1,106 for coverage, which is approximately $92 per month.
|Rank||City||Average Per Year|
|6||South Sioux City||$1,303|
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Premium costs are comparative as the garaging address in Lincoln can increase or decrease insurance rates substantially.
The illustration below demonstrates how deductibles can increase or decrease premium costs when searching for cheap insurance for 17 year olds. The costs are based on a married female driver, comp and collision included, and no discounts are taken into consideration.
The data above shows that a 50-year-old driver could cut expenses by $276 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $416 by selecting a $1,000 deductible. Even younger drivers, like the 20-year-old, can cut $684 every year just by using higher deductibles. If you do make the decision to raise your deductibles, it’s a good idea to have spare funds to enable you to pay the extra out-of-pocket expense associated with higher deductibles.
Tickets and at-fault accidents raise rates
In a perfect world, the best way to enjoy the best insurance prices in Nebraska for teen drivers is to be a safe driver and avoid accidents and traffic citations. The chart below demonstrates how traffic citations and at-fault claims impact premium costs for different categories of driver ages. The price estimates are based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are factored in.
In the example above, the average cost of an auto insurance policy in Lincoln per year with no accidents or violations is $1,472. Get one speeding ticket and the average cost rises to $1,688, an increase of $215 each year. Then include two accidents along with the one speeding ticket and the yearly cost of insurance for 17 year olds increases to an average of $3,506. That’s an increase of $2,034, or $169 per month, just for not driving attentively!
Get discounts on Lincoln car insurance
Auto insurance companies that sell policies for 17 year olds may also give you premium discounts that can reduce rates by 30% or more if you are eligible to receive them. Popular insurance companies and a summarized list of policyholder discounts are included below.
- Farmers Insurance may have discounts that include youthful driver, bundle discounts, teen driver, multi-car, electronic funds transfer, mature driver, and switch companies.
- State Farm offers discounts for Drive Safe & Save, student away at school, good driver, defensive driving training, safe vehicle, multiple autos, and accident-free.
- Liberty Mutual may include discounts for new move discount, exclusive group savings, newly retired, safety features, and multi-policy.
- MetLife discounts include accident-free, multi-policy, defensive driver, claim-free, and good student.
- Progressive includes discounts for online quote discount, multi-policy, continuous coverage, multi-vehicle, good student, online signing, and homeowner.
The illustration below shows the difference between premium costs with and without discounts applied. The rate quotes are based on a female driver, no violations or claims, Nebraska state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with continuous coverage, paid-in-full, good student, passive restraint, vehicle safety, and paperless filing discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on insurance for 17 year olds is 28% or $642.
How to find more affordable insurance for 17 year olds
It is possible to find better rates, and here are some of the recommended thrifty solutions that can help Nebraska drivers buy lower-cost coverage.
- Accidents can significantly increase rates
- Higher deductibles save money
- Clean up your credit rating
- The safer your car, the less it costs to insure
- Serious violations like DUI or reckless driving can increase rates dramatically
- Do not waste money insuring older vehicles for full coverage
- Ensure you have the best deal by shopping around regularly
That last piece of advice is extremely critical, as we stressed in this write-up. Rates fluctuate considerably, so drivers shouldn’t be resistant to switch to a new company if you can find a cheaper rate. Many consumers stick with the same company and that’s fine, but it isn’t a good idea if it’s costing you a lot of money every month. Now is a great time to shop around to find cheaper car insurance for 17 year olds in Lincoln.