Establishing which companies quote the best auto insurance rates for 17 year olds will involve a little more work in order to find the best price. Each auto insurer has their own guidelines for determining prices, so we need to take a look at the auto insurance companies that tend to have lower prices in Riverside.
We do need to point out that Riverside auto insurance rates are calculated based on many things which can substantially change the price of coverage. Improving your credit score, buying a home instead of renting, or having a fender bender can trigger changes in premium that can make some companies cheaper in comparison to the competition.
Best Auto Insurance Prices for Teens
USAA offers some of the cheapest car insurance rates in Riverside at around $1,109 each year. Wawanesa, Century National, CSAA, and Nationwide also are some of the lowest-priced Riverside, CA car insurance companies.
As shown in the table above, if you are insured with CSAA and switched to Wawanesa, you might realize yearly savings of about $41. Policyholders with Nationwide could save as much as $82 a year, and 21st Century policyholders might reduce prices by as much as $157 a year.
If you want to see how much you could save, click here to get a free quote or visit several of the following companies.
Bear in mind that those policy prices are averages for all insureds and vehicles and do not take into consideration a vehicle location for 17 year olds. So the insurer that fits your age and vehicle best may not even be in the list above. That point stresses why you need to quote rates from as many companies as possible using your own personal information and vehicle type.
The car, truck, or SUV that is being insured is a large consideration when comparison shopping for the most economical car insurance for 17 year olds. Vehicles with lower acceleration and performance, advanced safety features, or a positive history of liability claims will cost substantially less to insure than fast, unsafe models. The data below shows auto insurance costs for a selection of the most economical vehicles to insure in California.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$3,962|
|Ford Escape XLS 4WD||$3,971|
|Toyota Tacoma 4WD||$4,443|
|Ford F-150 FX2 Super Cab 2WD||$4,449|
|Volkswagen Jetta SE 2.5 Station Wagon||$4,561|
|Ford Edge SEL 2WD||$4,662|
|Honda Odyssey EX||$4,672|
|Ford Focus S 4-Dr Sedan||$4,662|
|Toyota RAV4 Limited 4WD||$4,702|
|Dodge Grand Caravan SXT||$4,744|
|Ford Explorer Limited 2WD||$4,749|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$4,914|
|Toyota Corolla S||$4,959|
|Chevrolet Impala LTZ||$4,964|
|Hyundai Elantra SE 4-Dr Sedan||$4,959|
|Jeep Grand Cherokee Limited 2WD||$5,001|
|Chevrolet Malibu LTZ||$5,007|
|Nissan Altima 3.5 SR 4-Dr Sedan||$5,001|
|Chevrolet Equinox LTZ AWD||$5,009|
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Prices above based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium costs do not factor in specific zip code location which can modify auto insurance rates noticeably.
Based upon the table data, we can conclude that vehicles like the Honda CR-V, Ford Escape, Toyota Prius, and Toyota Tacoma will definitely be some of the less-costly vehicles to insure for teen drivers. The price for car insurance will be higher anyway just due to the fact that there is a higher risk for 17 year olds, but in general those makes and models will probably have the cheapest rates that you are likely to find.
Difference between liability only and full coverage rates
Saving money when shopping for auto insurance is the goal of the majority of people, and one of the best ways to find cheap insurance for 17 year olds is to not buy full coverage. The diagram below compares annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes a clean driving record, no at-fault accidents, $250 deductibles, drivers are not married, and no discounts are applied.
Averaged for all ages 20 through 70, full coverage costs an extra $3,093 per year over and above liability only. That brings up the question when is it a good idea to stop buying full coverage. There isn’t a steadfast formula of when to phase out full coverage on your policy, but there is a guideline you can consider. If the yearly cost of full coverage is 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.
There are a few cases where dropping physical damage coverage is not advised. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
Violations and accidents raise rates
The best way to enjoy good auto insurance premiums for teen drivers is to pay attention while driving and avoid accidents and violations. The information below shows how violations and accidents drive up car insurance costs for different age groups. The premiums assume a married female driver, full physical damage coverage, $250 deductibles, and no other discounts are factored in.
In the previous example, the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,785. Factor in one speeding ticket and the average cost increases to $2,078, an increase of $293 each year. Now get two accidents along with the one speeding ticket and the 12-month cost of auto insurance for 17 year olds increases to an average of $4,613. That’s an increase of $2,828, or $236 per month, just for not driving safely!
Your low-price policy may be costing you money
Riverside auto insurance rates are based on many factors that control the price you have to pay. Improving your credit score, moving across town, or getting a couple of tickets can trigger price changes that can now make some companies more affordable than before. Not only that, but car insurance companies amend pricing every year to adjust for gains or losses. Larger than normal claims may result in price increases, while profitable underwriting can produce more affordable Riverside car insurance rates.
For instance, the bar chart below shows a variety of companies that have the cheapest car insurance in Riverside, CA for a 30-year-old male driver with no accidents, a clean driving record, and great credit. If we look at prices based on his personal risk profile, USAA may have the best car insurance rates in Riverside at $1,239 each year. This is $412 less than the average premium paid by California drivers of $1,651. Wawanesa, CSAA, Century National, and Nationwide are also on the list of the cheapest Riverside, CA auto insurance companies.
The example below compares rates after we give the driver from the first example a couple of claims, a little lower credit rating, and a speeding citation. Since each auto insurer has a different process to determining premium rates, comparing prices could now result in a slightly different list of the cheapest companies as shown below.
Grange now has the lowest price in Riverside with Progressive, Allstate, GEICO, and Allied now rounding out the top five. This example proves why it is critical to compare lots of rates to get the most affordable car insurance quotes for 17 year olds. Auto insurance prices are impacted by many factors and change dramatically, so the cheapest option when you bought your policy may now be priced much higher than other options.