The words “low-priced” and “insurance” really shouldn’t be used together, in particular when you are trying to find the cheapest coverage for drivers under 25. To save some money, let’s teach you some things that determine insurance rates, and come up with some ideas to shave a little off your next policy.
The vehicle requiring insurance is probably the largest consideration when shopping for the most affordable insurance for drivers under 25. Vehicles with more horsepower, poor safety features, or a high likelihood of having liability claims will cost significantly more to insure than safer models. The information below presents auto insurance rates for a number of the cheapest vehicles to buy insurance for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$5,433|
|Ford Escape Limited 2WD||$5,515|
|Honda Accord EX-L 4-Dr Sedan||$5,916|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$5,959|
|Ford Explorer Eddie Bauer 2WD||$6,040|
|Toyota RAV4 Sport 2WD||$6,441|
|Chevrolet Impala LT||$6,449|
|Dodge Grand Caravan Hero||$6,441|
|Chevrolet Equinox LT AWD||$6,448|
|Ford Fusion S 4-Dr Sedan||$6,441|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$6,523|
|Ford F-150 Lariat Super Cab 4WD||$6,528|
|Chevrolet Malibu LT||$6,523|
|Ford Focus SES 4-Dr Sedan||$6,765|
|Honda Odyssey EX-L||$6,846|
|Hyundai Elantra SE 4-Dr Sedan||$6,851|
|Toyota Corolla XLE||$6,846|
|Ford Edge Limited AWD||$6,851|
|Toyota Camry XLE||$6,846|
|Nissan Rogue S AWD||$6,905|
|Jeep Grand Cherokee Limited 2WD||$6,928|
|Volkswagen Jetta SEL 4-Dr Sedan||$6,933|
|Find Cheaper Rates Go|
Data based on single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate information does not factor in specific location which can influence premiums substantially.
Looking at the data, you can infer that cars like the Honda CR-V, Ford Escape, Honda Accord, and Jeep Wrangler should be a few of the more affordable vehicles to insure for drivers age 25 and younger. Rates will trend higher just due to the fact that there is more liability risk for drivers under 25, but overall those particular models will most likely have the lowest prices compared to all other vehicles.
Trying to buy budget insurance is not easy, and figuring out which company has the best insurance rates for drivers under 25 involves even more perseverance. Every insurance company has a unique formula for filing rates in each state, so let’s begin by examining the insurance companies that tend to be cheaper in Buffalo.
It’s important to know that New York insurance rates are impacted by many factors which can significantly increase or decrease the price of your policy. Taking a driver safety course, buying a new vehicle, or getting a driving violation can trigger price changes that may make certain companies cheaper in comparison to the competition.
Find the Best Cheap Insurance for Young Drivers
USAA normally has some of the best car insurance rates in Buffalo at around $1,187 each year. This is $888 less than the average rate paid by New York drivers of $2,075. Erie, Progressive, Utica National, and Travelers also qualify as some of the cheaper Buffalo, NY auto insurance companies.
In the above example, if you are insured with Erie and switched to USAA, you may realize an annual savings of roughly $18. Policyholders with Progressive could save as much as $309 a year, and Utica National policyholders might reduce prices by as much as $317 a year.
Remember that these estimates are averages across all drivers and vehicles in New York and are not factoring in an exact location for drivers under 25. So the insurer that fits your age and vehicle best may not even be in the list above. That underscores the importance of why you need to compare as many prices as possible using your own specific driver and vehicle information.
Selecting the top auto insurance provider is difficult considering how many choices you have in New York. The company information below could help you choose which auto insurers you want to consider shopping your coverage with.
These rankings are only comprised of the largest companies in the United States, so companies that focus mainly on New York business are not factored into the list. If you would like to check rates from the most competitive companies in New York, follow this link.
Top 10 Major Car Insurance Companies Overall in Buffalo
- The General
- Mercury Insurance
- The Hartford
- State Farm
- Farmers Insurance
- Erie Insurance
- Safeco Insurance
Impact of citations and accidents on insurance rates
The best way to get low insurance rates in New York for drivers age 25 and younger is to pay attention while driving and avoid at-fault accidents and violations. The diagram below shows how violations and accident claims can increase car insurance costs for each age group. The data assumes a single female driver, full physical damage coverage, $500 deductibles, and no policy discounts are applied.
The chart shows that the average cost of an auto insurance policy in New York per year with a clean driving record and no accidents is $1,590. Factor in two speeding tickets and the average cost surges to $2,125, an increase of $535 each year. Now add in one accident along with the two speeding tickets and the annual cost of insurance for drivers under 25 increases to an average of $2,674. That’s an increase of $1,084, or $90 per month, just for a couple of infractions!
The benefit of shopping around
New York insurance rates are based on many factors that can increase the price of your policy. Turning one year older, buying higher coverage limits, or getting a DUI can produce rate changes resulting in some rates now being more affordable than the competition.
And not only may your rating factors change, but insurers change premium rates as often as every three months in order to remain profitable. A period of increased losses may cause rate hikes, while long-term profits may produce lower-priced Buffalo car insurance rates.
For instance, the bar chart below shows the company with the cheapest car insurance in Buffalo, NY for a 35-year-old male driver with no prior accidents, a clean driving record, and good financial standing. Based on his personal risk profile, USAA has the most affordable car insurance rates in Buffalo at $1,955 each year. This is $120 less than the average premium paid by New York drivers of $2,075. Erie, Utica National, Travelers, and Allstate are the rest of the cheapest Buffalo, NY auto insurance companies.
Now we will give the driver from above an accident surcharge, poor credit, and a blemish on his driving record. Since each auto insurance company has their own formula for setting prices, getting updated rate quotes could result in a significantly different list of affordable Buffalo car insurance companies as shown below.
MetLife now has the cheapest car insurance in Buffalo, NY with Amica, Erie, Preferred Mutual, and GEICO completing the list. This illustrates why it is crucial to perform a complete rate comparison to get the cheapest insurance quotes for drivers under 25. Prices are determined by many things and can change without notice, so the best price the last time you shopped around may now not even be in the top five.
How to find economical insurance for drivers under 25
The list below details a few penny-pinching solutions that can help Buffalo drivers find cheap car insurance.
- Buy vehicles with five-star safety ratings
- Accident-free drivers may qualify for discounts
- Just one traffic violation will increase your rates
- Higher credit scores can equal lower rates
- Drop full coverage on older vehicles
- Increase the comprehensive and collision deductibles on your policy
- Compare prices as often as possible
The last idea is incredibly crucial, as was discussed in this article. Prices charged by companies in Buffalo can be modified anytime, so you should be ready to buy from a different company if you find a better deal.
We understand brand loyalty, but is isn’t recommended if your bullheadedness ends up costing you lots of money. If you have a few minutes, compare rates and find cheaper car insurance for drivers under 25.
If you aren’t clear which coverage you need and would like to have a professional recommendation when trying to find lower insurance rates for drivers under 25, the professional agents shown below are a good start to help you decide which insurance coverage will be best for you. To find a Buffalo insurance agency close to where you live, click the button following the list or click here to compare prices now.
Able Insurance Agency
1798 Main St – Buffalo, NY 14208 – (716) 883-5212
Consolidated Insurance Agents
3814 Seneca St – Buffalo, NY 14224 – (716) 674-1700
Nationwide Insurance: Cynthia Woltz Insurance Agency Inc
1926 clinton – Buffalo, NY 14206 – (716) 822-6874
Bob White Insurance Agency
602 Grover Cleveland Hwy – Amherst, NY 14226 – (716) 836-2222
George Ihle III – State Farm Insurance Agent
7718 Buffalo Ave – Niagara Falls, NY 14304 – (716) 283-9100