The make and model of vehicle you are insuring is one of the main factors when looking for cheaper car insurance for high school students. Vehicles with lower acceleration and performance, a plethora of safety features, or a track record of few liability claims will cost quite a bit less to insure than adrenaline junky models.
The list below showcases insurance costs for a number of the most budget-friendly vehicles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$2,934|
|Honda CR-V EX-L 2WD||$2,966|
|Ford F-150 FX2 Super Cab 2WD||$3,282|
|Jeep Wrangler Rubicon 4WD 2-Dr||$3,287|
|Ford Explorer Eddie Bauer 2WD||$3,282|
|Volkswagen Jetta SE 2.5 Station Wagon||$3,392|
|Ford Edge SEL AWD||$3,446|
|Toyota RAV4 2WD||$3,478|
|Dodge Grand Caravan Hero||$3,483|
|Chevrolet Impala LT||$3,478|
|Chevrolet Equinox LS 2WD||$3,488|
|Jeep Grand Cherokee Laredo 4WD||$3,478|
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Data assumes single male driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium costs do not factor in specific location which can influence insurance rates greatly.
Looking at the numbers, we can expect vehicles like the Ford Escape, Honda CR-V, Toyota Prius, and Ford F-150 are a few of the most budget-friendly vehicles to insure for teenagers. The price for an auto insurance policy will tend to be more expensive anyway because of the fact that there is more liability risk for high school students, but in general those specific models will most likely have the least expensive rates possible.
Establishing which companies quote the best auto insurance rates for high school students involves a little more sweat than just comparing rates from one or two companies. Every insurance provider has their own guidelines for determining rates in each state, so let’s take a look at the auto insurance companies that tend to be cheaper in Lincoln.
It’s important to understand that Lincoln auto insurance rates are impacted by many factors that may substantially change the price you pay for coverage. Getting older, buying a different home, or getting into an accident can produce rate changes resulting in some companies being more affordable than before.
Find the Cheapest Car Insurance for Students
|Rank||Company||Cost Per Year|
|5||Farmers Mutual of Nebraska||$979|
|7||Farm Bureau Mutual||$1,020|
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Safeco quotes some of the best car insurance rates in Lincoln at around $804 annually. This is $512 less than the average rate paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farmers Mutual of Nebraska also rank well as some of the more affordable Lincoln, NE car insurance companies.
In the above rates, if you are currently insured with Allied and switched to Safeco, you could see yearly savings of approximately $135. Nebraska drivers with Farmers Mutual of Nebraska could save as much as $175 a year, and Nationwide customers might realize rate reductions of up to $203 a year.
To discover how much you can save, click here or visit any of the companies below.
Be aware that those policy rates are averages across all types of drivers and the different vehicles they drive and and are not figured with a specific vehicle garaging location for high school students. So the car insurance company that fits your age and vehicle best may not even be in the list above. That helps illustrate why you need to compare prices as often as possible using your own driver and vehicle profiles.
Cost comparison with and without full coverage
Buying cheaper auto insurance is probably important to most people, and a good way to buy cheap insurance for high school students is to not pay for full coverage. The diagram below illustrates the difference between yearly insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no driving violations, no at-fault accidents, $100 deductibles, drivers are not married, and no other discounts are factored in.
If the expense is averaged for all age categories, comprehensive and collision coverage on your policy costs an extra $2,305 per year over having just liability coverage. Lot’s of drivers question if you should buy full coverage at all. There is no definitive guideline to exclude comprehensive and collision coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
There are some circumstances where buying only liability insurance is not in your best interest. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage.
Get discount Lincoln insurance rates
Insurers that offer coverage for high school students may have rate discounts that could reduce prices by 25% or more if you are eligible to receive them. The best auto insurance companies and some of their more popular discounts are outlined below.
- Farm Bureau may include discounts for 55 and retired, good student, youthful driver, multi-policy, driver training, renewal discount, and multi-vehicle.
- MetLife has discounts for defensive driver, accident-free, good driver, claim-free, multi-policy, and good student.
- Progressive offers discounts including good student, multi-policy, continuous coverage, homeowner, and online quote discount.
- AAA discounts include anti-theft, AAA membership discount, pay-in-full, good driver, multi-policy, multi-car, and good student.
- American Family offers premium reductions for good student, air bags, TimeAway discount, good driver, and early bird.
- GEICO policyholders can earn discounts including membership and employees, anti-lock brakes, seat belt use, five-year accident-free, good student, daytime running lights, and military active duty.
- State Farm includes discounts for Steer Clear safe driver discount, student away at school, accident-free, defensive driving training, and good student.
The information below illustrates the difference between yearly insurance costs with and without discounts. The costs are based on a male driver, a clean driving record, no at-fault accidents, Nebraska state minimum liability limits, full coverage, and $100 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with good student, continuous coverage, passive restraint, anti-theft, paperless filing, and vehicle safety discounts applied. When discounts are applied, theaverage yearly reduction on auto insurance for high school students is 28% or $591.
Insurance rate increases from tickets or accidents
A great way to obtain the best auto insurance premiums for teenagers is to drive safe and avoid accidents and keep your driving record clean. The illustration below shows how violations and at-fault accidents influence insurance rates for each different age group. The information is based on a single male driver, full physical damage coverage, $1,000 deductibles, and no other discounts are factored in.
In the example above, the average cost of car insurance in Lincoln per year with no violations or accidents is $1,681. Get two speeding tickets and the average cost increases to $2,214, an increase of $533 each year. Then add two accidents along with the two speeding tickets and the yearly cost of auto insurance for high school students jumps again to an average of $4,453. That’s an increase of $2,771, or $231 per month, just for not driving attentively!