You’ve seen the captivating commercials from insurers like Farmers, The General, and Nationwide that make claims of the cheapest rates. So you should just pick one at random, right?
It’s just not that easy, however, as there are a whole bunch of unknown aspects such as the type of vehicle you drive, how experienced of a driver you are, where you live, and what your desired deductibles are. This article will discuss the best ways to compare rates and educate you enough to have a good beginning to your quest for cheaper car insurance.
Determining which companies have the most affordable car insurance rates for teenage males will require a little more sweat in order to find the lowest price. Each insurance company uses their own method to set policy rates, so to begin we’ll rank the overall cheapest car insurance companies in Buffalo.
It’s important to understand that Buffalo car insurance rates are calculated based on many things which can significantly increase or decrease the price of your policy. Simply getting older, adding a teenager to your policy, or getting a speeding ticket may prompt premium changes that may make certain companies more affordable than others.
Best Car Insurance Prices for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,187 |
| 2 | Erie | $1,255 |
| 3 | Utica National | $1,534 |
| 4 | Allstate | $1,541 |
| 5 | Progressive | $1,558 |
| 6 | Travelers | $1,559 |
| 7 | MetLife | $1,620 |
| 8 | Amica | $1,644 |
| 9 | Preferred Mutual | $1,737 |
| 10 | New York Central Mutual | $1,892 |
| 11 | Safeco | $1,908 |
| 12 | State Farm | $1,924 |
| 13 | GEICO | $1,926 |
| 14 | Central Mutual | $1,968 |
| 15 | Liberty Mutual | $2,005 |
| 16 | Hanover | $2,323 |
| 17 | Encompass | $2,662 |
| 18 | Nationwide | $3,054 |
| 19 | Mercury | $3,848 |
| 20 | 21st Century | $4,455 |
| View More Rates Go | ||
USAA may have some of the most affordable car insurance rates in Buffalo at around $1,187 each year. Erie, Utica National, Allstate, and Progressive would also be considered some of the cheapest Buffalo, NY insurance companies.
As shown above, if you buy coverage from Progressive and switched to Erie, you could see a yearly price reduction of roughly $303. Policyholders with Travelers might save as much as $304 a year, and MetLife customers might see rate reductions of $365 a year.
It’s important to note that these policy rates are averages across all ages of drivers and types of vehicles and are not factoring in a specific location for teenage males. So the car insurance company that fits your needs best may not even be in the top 20 companies in the list above. That affirms the importance of why you need to compare rates from as many companies as possible using your own driver information and specific vehicle type.
For teen boys, one of the more important criteria that are looked at to determine the cost of insurance is where you choose to live. Areas with increased crime or more people will most likely have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims receive better rates.
The following table lists the highest-priced places in New York for teenage males in which to purchase auto insurance. Buffalo is ranked at #13 with a yearly premium of $1,548 for car insurance, which is about $129 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | New York | $2,708 |
| 2 | Freeport | $2,303 |
| 3 | Hempstead | $2,233 |
| 4 | Levittown | $2,061 |
| 5 | Mount Vernon | $1,938 |
| 6 | Yonkers | $1,920 |
| 7 | Brentwood | $1,910 |
| 8 | West Babylon | $1,875 |
| 9 | Hicksville | $1,862 |
| 10 | Coram | $1,732 |
| 11 | New Rochelle | $1,627 |
| 12 | White Plains | $1,612 |
| 13 | Buffalo | $1,548 |
| 14 | Cheektowaga | $1,240 |
| 15 | Niagara Falls | $1,237 |
| 16 | West Seneca | $1,225 |
| 17 | Tonawanda | $1,165 |
| 18 | Utica | $1,136 |
| 19 | Troy | $1,095 |
| 20 | Syracuse | $1,086 |
| 21 | Albany | $1,056 |
| 22 | Rochester | $1,036 |
| 23 | Schenectady | $1,020 |
| 24 | Irondequoit | $1,001 |
| 25 | Binghamton | $912 |
| Compare Rates Now Go | ||
Rates are comparative as the vehicle garaging location can alter coverage prices noticeably.
The vehicle needing coverage is one of the primary factors when comparing the best cheap auto insurance for teenage males. Vehicles with high performance features, poor crash test ratings, or a history of substantial liability claims will cost more to insure than more economical and safe models.
The list below presents insurance costs for the most affordable vehicles to buy insurance for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $9,262 |
| Honda CR-V EX 2WD | $9,270 |
| Toyota Prius | $10,005 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $10,419 |
| Toyota Tacoma 4WD | $10,425 |
| Ford F-150 STX Regular Cab 4WD | $10,419 |
| Dodge Grand Caravan CV | $10,426 |
| Volkswagen Jetta 2.0T Station Wagon | $10,572 |
| Chevrolet Impala LS | $10,898 |
| Jeep Grand Cherokee Laredo 2WD | $10,986 |
| Toyota Camry LE | $10,995 |
| Toyota RAV4 Sport 2WD | $10,986 |
| Chevrolet Equinox LS AWD | $10,991 |
| Compare Cheap Rates Go | |
Data based on single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, and claim-free. Information does not factor in specific zip code location which can modify premium rates noticeably.
Based on these rates, you can conclude that cars like the Ford Escape, Honda CR-V, Toyota Prius, Jeep Wrangler, and Toyota Tacoma are going to be the most budget-friendly vehicles to insure for teen boys. The price of auto insurance will be more costly because there is more liability risk for teenage males, but in general those specific models will most likely have the cheapest auto insurance rates compared to all other vehicles.
Impact of speeding/accidents on Buffalo car insurance rates
In a perfect world, the best way to maintain affordable car insurance rates in Buffalo for teen boys is to drive cautiously and maintain a clean driving record. The information below demonstrates how traffic citations and accident claims can impact yearly insurance costs for different age groups. The information is based on a married female driver, full physical damage coverage, $250 deductibles, and no discounts are applied.
In the previous chart, the average cost of an auto insurance policy in New York per year with no accidents and a clean driving record is $1,194. Get one speeding ticket and the average cost increases to $1,385, an increase of $191 each year. Then include one accident along with the one speeding ticket and the annual cost of car insurance for teenage males goes up to an average of $1,930. That’s an increase of $736, or $61 per month, just for not maintaining a clean driving record!
Full coverage or liability only
Buying cheaper car insurance is the goal of the majority of people, and one of the fastest ways to buy cheap insurance for teenage males is to not buy comprehensive and collision coverage. The illustration below shows the comparison of insurance premiums with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The prices are based on no claims, a clean driving record, $250 deductibles, drivers are single, and no discounts are applied.
If we average the cost for ages 20 through 70, physical damage insurance costs $1,863 per year over and above liability coverage. That may make you wonder if it’s a good idea to buy full coverage. There is no specific rule of when to drop physical damage coverage, but there is a general guideline you can use. If the annual cost of coverage is about 10% or more of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your vehicle’s claim settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $6,000 after paying your deductible. If you are paying over $600 annually for full coverage, then you may want to consider only buying liability coverage.
There are some conditions where dropping physical damage coverage is not financially feasible. If you still owe money on your vehicle, you have to keep full coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should maintain full coverage.
Here’s why you should shop around
Buffalo car insurance rates are determined by lots of factors that control the price you have to pay for coverage. Simply having another birthday, becoming a homeowner, or getting a couple of tickets can trigger price changes that can cause some rates to be more affordable than before.
Not only may your risk profile change, but auto insurance companies amend pricing every year in order to protect their financial rating. Higher than normal claims may result in higher rates, while lower claim levels can result in more affordable Buffalo car insurance rates.
To help illustrate this point, the bar chart below shows the companies that have the cheapest car insurance in Buffalo, NY for a 45-year-old female driver with no accidents or violations, and excellent credit. If we estimate rates based on her current risk profile, USAA might offer the lowest car insurance rates in Buffalo at $1,953 each year. This is $122 less than the average rate paid by New York drivers of $2,075. Erie, Utica National, Progressive, and Allstate are the remaining top five cheapest Buffalo, NY auto insurance companies.
Now we will give the driver from the above example a claim surcharge, bad credit, and a traffic citation. Due to the fact that every insurance company has a unique formula for determining prices, analyzing rates may now present a significantly different list of the cheapest Buffalo car insurance companies as shown below.
Amica now has the best price on car insurance in Buffalo, NY with MetLife, Preferred Mutual, Erie, and New York Central Mutual completing the list. This example illustrates why it is critical to shop around with many companies when trying to find the most affordable auto insurance rates for teenage males. Insurance rates are determined by many things and can decrease or increase without notice, so the most economical company the last time you compared rates may now be one of the higher cost companies.
The insurance agencies below can probably aid you in deciding which auto insurance policy fits you best, as some people have coverage questions and would like to have a consultation when shopping around for cheaper insurance for teenage males. It’s not always simple to find the cheapest rates, and insurance agents licensed in the state of New York can provide peace of mind knowing you have sufficient coverage at claim time. To find an agent closest to you, click the button after the list or click here to get price quotes now.
- Progressive Insurance – Buffalo Service Center
6699 Transit Road – Buffalo, NY 14221 – (716) 810-1500 - Sardinia Associates LLC
801 Main St – Buffalo, NY 14203 – (716) 853-3820 - Niagara National Insurance
5001 Genesee St – Buffalo, NY 14225 – (716) 684-6000 - State Insurance Fund
225 Oak St – Buffalo, NY 14203 – (716) 851-2000