If you are a teenager or a parent of a teenager, you might be wondering which car is the cheapest to insure for young drivers. Car insurance is one of the major expenses that come with owning a car, especially for inexperienced drivers who are considered high-risk by insurance companies.
According to the Insurance Institute for Highway Safety (IIHS), the average annual premium for a 16-year-old driver in 2020 was $3,841, which is more than three times the average premium for a 40-year-old driver.
However, not all cars are equally expensive to insure. Some factors that affect the insurance cost of a car include its make, model, year, safety features, repair costs, and theft rate. Generally, newer, safer, and less expensive cars are cheaper to insure than older, riskier, and more expensive cars.
In this article, we will list some of the cheapest cars to insure for teenagers and explain what factors affect the insurance costs for young drivers. We will also provide some tips on how to lower the insurance costs for teenagers.
Cheapest Cars to Insure for Teenagers
According to various sources, some of the cheapest cars to insure for teenagers are:
1. Honda Civic
The Honda Civic is a popular compact car that offers good fuel economy, reliability, and safety. It has a five-star overall safety rating from the National Highway Traffic Safety Administration (NHTSA) and a Top Safety Pick award from the IIHS. The average annual premium for a Honda Civic is $2,346.
2. Toyota Corolla
The Toyota Corolla is another reliable and fuel-efficient compact car that has a five-star overall safety rating from the NHTSA and a Top Safety Pick+ award from the IIHS. The average annual premium for a Toyota Corolla is $2,371.
3. Ford Focus
The Ford Focus is a versatile and spacious compact car that has a four-star overall safety rating from the NHTSA and a Top Safety Pick award from the IIHS. The average annual premium for a Ford Focus is $2,379.
4. Chevrolet Cruze
The Chevrolet Cruze is a stylish and comfortable compact car that has a five-star overall safety rating from the NHTSA and a Top Safety Pick award from the IIHS. The average annual premium for a Chevrolet Cruze is $2,383.
5. Kia Forte
The Kia Forte is a sleek and sporty compact car that has a five-star overall safety rating from the NHTSA and a Top Safety Pick+ award from the IIHS. The average annual premium for a Kia Forte is $2,401.
6. Hyundai Elantra
The Hyundai Elantra is a spacious and smooth compact car that has a four-star overall safety rating from the NHTSA and a Top Safety Pick+ award from the IIHS. The average annual premium for a Hyundai Elantra is $2,409.
7. Subaru Impreza
The Subaru Impreza is a durable and agile compact car that has a five-star overall safety rating from the NHTSA and a Top Safety Pick+ award from the IIHS. The average annual premium for a Subaru Impreza is $2,413.
8. Mazda3
The Mazda3 is a fun and agile compact car that has a five-star overall safety rating from the NHTSA and a Top Safety Pick+ award from the IIHS. The average annual premium for a Mazda3 is $2,415.
These are some of the cheapest cars to insure for teenagers based on their average premiums. However, keep in mind that the actual insurance cost of any car will vary depending on various factors such as your age, driving record, location, coverage level, deductible amount, and discounts.
Factors Affecting Insurance Costs for Teenagers
As mentioned earlier, there are many factors that affect the insurance cost of any car. Some of these factors are specific to teenagers and young drivers who are considered high-risk by insurance companies. Some of these factors are:
- Age and driving experience: Teenagers are more likely to get into accidents than older drivers because they have less driving experience and tend to be more impulsive and reckless behind the wheel. According to the Centers for Disease Control and Prevention (CDC), motor vehicle crashes are the leading cause of death among teens in the United States. Therefore, insurance companies charge higher premiums for teenagers than older drivers.
- Location: Where you live also affects your insurance cost because different states have different laws and regulations regarding car insurance. Some states require more coverage than others, which means higher premiums. Additionally, some areas have higher rates of accidents, thefts, vandalism, and natural disasters, which also increase the insurance cost.
- Gender: Teenage boys are more likely to get into accidents than teenage girls because they tend to drive faster, take more risks, and engage in more aggressive behaviors on the road. According to the IIHS, the fatal crash rate per mile driven for 16-19 year-old males was almost twice as high as that for 16-19 year-old females in 2019. Therefore, insurance companies charge higher premiums for teenage boys than teenage girls.
- Vehicle type and safety features: The type of vehicle you drive also affects your insurance cost because some vehicles are more expensive to repair or replace than others. Generally, newer, larger, and more luxurious vehicles are more costly to insure than older, smaller, and more basic vehicles. Moreover, some vehicles have more safety features than others, such as airbags, anti-lock brakes, lane departure warning, blind spot detection, and rearview camera. These features can reduce the risk of accidents and injuries, which can lower the insurance cost.
Ways to Lower Insurance Costs for Teenagers
Although car insurance is expensive for teenagers, there are some ways to lower the insurance costs and save money. Some of these ways are:
- Maintain a clean driving record: One of the best ways to lower your insurance cost is to avoid getting into accidents or getting tickets for speeding, running red lights, or other traffic violations. These incidents can increase your risk level and raise your premiums. Therefore, you should always drive safely and follow the rules of the road.
- Take a defensive driving course: Another way to lower your insurance cost is to take a defensive driving course that teaches you how to drive more safely and avoid common hazards on the road. Some insurance companies offer discounts for drivers who complete such courses. You can check with your insurance company if they offer this option and what are the requirements and benefits.
- Bundle insurance policies: If you or your parents have other types of insurance policies, such as home, renters, or life insurance, you might be able to save money by bundling them with your car insurance policy. This means that you buy all your insurance policies from the same company and get a discount for doing so. You can ask your insurance company if they offer this option and how much you can save by bundling your policies.
- Choose a higher deductible: A deductible is the amount of money you have to pay out of your pocket before your insurance company pays for the rest of the claim. The higher your deductible, the lower your premium. However, this also means that you have to pay more in case of an accident or damage to your car. Therefore, you should choose a deductible that you can afford and that suits your risk level.
Shop around for the best rates: One of the most effective ways to lower your insurance cost is to compare different quotes from different insurance companies and choose the one that offers the best coverage at the lowest price. You can use online tools or agents to help you find and compare different quotes. You should also check for discounts and incentives that different companies offer for teenagers and young drivers.
