The words “affordable” and “insurance” really should not be used together, especially when you are looking for the cheapest auto insurance for teenagers. Let’s open your eyes to a few of the things that can significantly affect car insurance prices, and see if you can take the bite out of your next policy.
The type of vehicle requiring coverage is a large factor that determines whether or not you find the cheapest auto insurance for teenagers. Vehicles with high performance features, poor safety ratings, or an increased likelihood of liability claims will cost much more to insure than more economical and safe models.
The next table estimates car insurance rates for a selection of the more affordable automobiles to insure in Arizona.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX 4-Dr Sedan | $5,741 |
| Hyundai Elantra GLS Touring Station Wagon | $5,750 |
| Honda CR-V EX-L 2WD | $5,793 |
| Ford Escape Limited 2WD | $5,798 |
| Jeep Wrangler Sport 4WD 2-Dr | $6,058 |
| Toyota Prius | $6,194 |
| Volkswagen Jetta SE 2.5 Station Wagon | $6,543 |
| Ford Edge SEL 2WD | $6,756 |
| Chevrolet Equinox LT AWD | $6,808 |
| Toyota RAV4 Sport 2WD | $6,815 |
| Dodge Grand Caravan Crew | $6,860 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $6,867 |
| Ford F-150 FX4 4WD | $6,860 |
| Ford Explorer Limited 2WD | $6,868 |
| Honda Odyssey EX-L W/Navigation | $7,157 |
| Chevrolet Impala LTZ | $7,167 |
| Toyota Corolla S | $7,157 |
| Jeep Grand Cherokee SRT-8 4WD | $7,209 |
| Nissan Altima Hybrid 4-Dr Sedan | $7,219 |
| Chevrolet Malibu LTZ | $7,209 |
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Data based on single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Arizona minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium amounts do not factor in specific location which can affect premiums considerably.
Based upon the rates shown, cars like the Honda Accord, Hyundai Elantra, Honda CR-V, Ford Escape, and Jeep Wrangler are most likely going to be a few of the more affordable vehicles to insure for teen drivers. The price for car insurance will tend to be more expensive because of the fact that there is more risk for teenagers, but generally speaking those vehicles will probably have the cheapest auto insurance rates compared to all other vehicles.
One of the many criteria that are looked at to help calculate the cost of insurance is where you normally keep your vehicle in Scottsdale. Areas with a lot of weather claims or more people tend to have higher auto insurance costs, whereas areas with lower vehicle theft rates and fewer weather claims have the luxury of lower rates.
The information below ranks the most expensive cities in Arizona for teenagers to buy car insurance in. Scottsdale is ranked #4 with an annual cost of $1,151 for the average policyholder, which is around $96 per month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Phoenix | $1,218 |
| 2 | Avondale | $1,210 |
| 3 | Glendale | $1,178 |
| 4 | Scottsdale | $1,151 |
| 5 | San Tan Valley | $1,150 |
| 6 | Chandler | $1,126 |
| 7 | Mesa | $1,125 |
| 8 | Buckeye | $1,122 |
| 9 | Gilbert | $1,120 |
| 10 | Tempe | $1,118 |
| 11 | Peoria | $1,104 |
| 12 | Goodyear | $1,098 |
| 13 | Tucson | $1,094 |
| 14 | Maricopa | $1,085 |
| 15 | Surprise | $1,080 |
| 16 | Casa Grande | $1,079 |
| 17 | Catalina Foothills | $1,072 |
| 18 | Oro Valley | $1,062 |
| 19 | Casas Adobes | $1,040 |
| 20 | Yuma | $983 |
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Price information shown is approximated as the specific geographic location can raise or lower auto insurance rates considerably.
The example below highlights how deductible selection can influence insurance rates when quoting cheap insurance for teenagers. The prices are based on a married male driver, comprehensive and collision coverage, and no additional discounts are factored in.
A 30-year-old driver could lower rates by $232 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $352 by choosing a $1,000 deductible. Younger drivers, like the 20-year-old, could roll back prices as much as $694 or more by choosing a higher deductible. When increasing deductibles, it is essential to have enough in a savings account to satisfy the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Picking the top insurer can be rather challenging considering how many companies sell coverage in Arizona. The ranking information shown next could help you select which car insurance providers you want to consider when trying find the best insurance for teenagers. These ratings only include large insurance companies, so companies that may only write in Arizona are not factored into this list.
Top 10 Large Auto Insurance Companies in Scottsdale Ranked by Claims Service
- State Farm
- Esurance
- AAA Insurance
- GEICO
- Liberty Mutual
- Progressive
- Allstate
- Titan Insurance
- The Hartford
- Mercury Insurance
Liability only or full coverage
Lowering the price of insurance is the goal of the majority of vehicle owners, and one common way to find cheap insurance for teenagers is to only pay for liability coverage. The chart below illustrates the comparison of yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Arizona. The rates are based on no claims or driving citations, $100 deductibles, drivers are single, and no discounts are taken into consideration.
As an overall average, physical damage coverage on your policy costs an additional $1,722 per year more than just buying liability only. That amount may make you wonder when is it a good idea to stop buying full coverage. There is no definitive rule of when to drop comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of having full coverage is 10% or more of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
For example, let’s assume your vehicle’s replacement value is $10,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would receive is $9,000 after paying your policy deductible. If you are paying over $900 annually for physical damage coverage, then you may want to consider only buying liability coverage.