The car, truck, or SUV you are trying to insure is a large factor that determines whether or not you can buy cheaper coverage for 17 year olds. Vehicles with reasonable performance levels, good crash test ratings, or a low likelihood of having liability claims will cost substantially less to insure than high performance models. The table below estimates auto insurance costs for the most economical automobiles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX 4WD||$9,247|
|Ford Escape Limited 2WD||$9,255|
|Honda Accord EX-L 4-Dr Sedan||$9,848|
|Hyundai Elantra SE Touring Station Wagon||$9,854|
|Ford F-150 STX Regular Cab 2WD||$10,164|
|Ford Explorer XLT 2WD||$10,259|
|Dodge Grand Caravan SE||$10,269|
|Volkswagen Jetta 2.0T Station Wagon||$10,544|
|Ford Edge SEL AWD||$10,765|
|Chevrolet Impala LS||$10,772|
|Toyota RAV4 Limited 4WD||$10,860|
|Chevrolet Malibu LS||$10,866|
|Jeep Grand Cherokee Laredo 2WD||$10,860|
|Toyota Tacoma Double Cab 4WD||$10,867|
|GMC Sierra SLE Crew Cab 2WD||$10,860|
|Chevrolet Equinox LS AWD||$10,866|
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Data based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in specific zip code location which can increase or decrease coverage prices significantly.
Looking at the data, we can presume that makes and models like the Honda CR-V, Ford Escape, Honda Accord, and Hyundai Elantra will definitely be a few of the cheapest vehicles to insure for teen drivers. The cost of auto insurance will be more costly because of the fact that there is a higher risk for 17 year olds, but generally speaking those makes and models will have the least expensive rates compared to other vehicles.
Determining which companies quote the lowest-priced auto insurance rates for 17 year olds calls for a little more effort in order to find the lowest price quote. Every car insurance company uses their own calculation for filing rates in each state, so let's examine the lowest cost auto insurance companies in Buffalo.
It's a good idea to be aware that New York auto insurance rates are impacted by many things that will increase or decrease the policy premium. Improving your credit rating, moving to a new city, or getting into an accident may prompt premium changes resulting in some companies being much cheaper than others.
Compare Cheap Insurance Quotes for Teens
|Rank||Company||Cost Per Year|
|10||New York Central Mutual||$1,874|
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USAA quotes some of the best car insurance rates in Buffalo at around $1,152 annually. Erie, Progressive, Utica National, and Travelers also are some of the cheapest Buffalo, NY auto insurance companies.
As depicted above, if you currently have a policy with Progressive and switched to USAA, you may see yearly savings of about $344. Policyholders with Utica National could save as much as $352 a year, and Travelers insureds might lower prices by up to $361 a year.
To find the cheapest coverage for you, click here to get quotes or visit several of the following companies.
Bear in mind that those premium estimates are averaged for all drivers and vehicles and are not factoring in an exact vehicle garaging location for 17 year olds. So the insurer that is best for you may not even be in the list above. That helps illustrate why you need to get auto insurance quotes using your own individual information.
Types of discounts on Buffalo car insurance
Auto insurance companies that provide coverage for 17 year olds may also offer policy discounts that can lower rates by as much as 30% if you are eligible to receive them. Popular auto insurance companies and their offered discounts include:
- American Family may offer discounts for bundled insurance, good student, accident-free, good driver, early bird, air bags, and Steer into Savings.
- State Farm offers discounts for passive restraint, Steer Clear safe driver discount, multiple autos, Drive Safe & Save, and accident-free.
- 21st Century offers discounts including early bird, theft prevention, teen driver, automatic seat belts, driver training, and good student.
- Travelers has savings for early quote, student away at school, save driver, hybrid/electric vehicle, multi-policy, and driver training.
- GEICO offers premium reductions for multi-policy, five-year accident-free, defensive driver, federal employee, daytime running lights, seat belt use, and good student.
The illustration below shows the comparison of insurance prices with and without some available policy discounts. Data assumes a male driver, no tickets, no at-fault accidents, New York state minimum liability limits, full physical damage coverage, and $500 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with good student, vehicle safety, paid-in-full, passive restraint, continuous coverage, and anti-theft discounts applied. In this example, the average savings per year on auto insurance for 17 year olds is 28% or $597.
Poor driving habits will raise your auto insurance rates
A great way to snag cheap auto insurance premiums for teen drivers is to drive safely and not get tickets or have accidents. The diagram below highlights how speeding tickets and fender-benders can raise insurance premiums for different age categories. The premium estimates are based on a single male driver, full coverage, $250 deductibles, and no policy discounts are applied.
The data charted above shows the average cost of a car insurance policy in New York per year with no violations or accidents is $1,396. Factor in one speeding ticket and the average cost jumps to $1,573, an increase of $177 each year. Then add one accident along with the one speeding ticket and the yearly cost of auto insurance for 17 year olds jumps again to an average of $2,064. That's an increase of $668, or $56 per month, just for a couple of infractions!
Full coverage rates compared to liability-only
Finding cheaper auto insurance is probably important to the majority of vehicle owners, and one great way to pay lower rates for insurance for 17 year olds is to only pay for liability coverage. The chart below compares car insurance rates with full physical damage coverage compared to only buying liability only. The prices are based on a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no additional discounts are factored in.
As an average, full coverage costs $1,253 per year over and above liability coverage. That proposes the question if it's worth it to buy full coverage. There is no exact rule for phasing out physical damage coverage, but there is a general guideline. If the annual cost of coverage is more than 10% of the replacement cost minus the deductible, then you might consider buying liability only.
There are some situations where only buying liability is not advised. If you still have a loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should maintain full coverage.