The make and model of vehicle that is being insured is a large consideration that determines whether or not you can buy low-cost auto insurance for high school students. Vehicles with limited top-end speed, a plethora of safety features, or a low likelihood of having liability claims will cost significantly less to insure than higher performance models. The next table illustrates car insurance premiums for a handful of the more affordable vehicles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 2WD||$3,667|
|Hyundai Elantra SE Touring Station Wagon||$3,897|
|Ford Escape Limited 4WD||$3,906|
|Ford Explorer XLT 4WD||$4,079|
|Ford F-150 XLT Super Cab 4WD||$4,115|
|Ford Edge SEL 2WD||$4,273|
|Jeep Grand Cherokee Laredo 2WD||$4,309|
|Toyota RAV4 Limited 4WD||$4,315|
|Chevrolet Equinox LS 2WD||$4,309|
|Toyota Tacoma Double Cab 4WD||$4,316|
|Chevrolet Malibu LS||$4,309|
|Dodge Grand Caravan Crew||$4,345|
|Ford F-350 XL Super Cab 2WD||$4,381|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$4,536|
|Honda Odyssey EX-L W/Navigation||$4,538|
|Toyota Corolla S||$4,545|
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Data rating is based on single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in the specific area where the vehicle is garaged which can change coverage prices noticeably.
Based upon these rates, you can presume that makes and models like the Honda CR-V, Hyundai Elantra, Ford Escape, and Toyota Prius should be some of the most budget-friendly vehicles to insure for teenagers. The cost of a car insurance policy will tend to be more expensive anyway because of the fact that there is more liability exposure for high school students, but in general those vehicles will have the cheapest car insurance rates compared to other vehicles.
For teenagers, one of the largest components that are looked at to help calculate the amount you pay each year for auto insurance is where you keep your vehicle in Riverside. Cities with larger populations will most likely have higher rates, whereas areas that tend to be more rural receive better rates.
The illustration below sorts the highest-priced areas in California for high school students to purchase a policy in. Riverside shows up at #16 with the annual price of $1,482 for the average policy, which is around $124 monthly.
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Rate information is approximated as the vehicle garaging location can modify price quotes substantially.
Full coverage versus liability only rates
Paying a lower price for insurance should be important to most vehicle owners, and an easy way to lower the cost of insurance for high school students is to only pay for liability coverage. The diagram below visualizes the comparison of insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in California. The rates are based on no tickets, no at-fault accidents, $1,000 deductibles, single status, and no discounts are factored in.
If averaged for all ages, full coverage costs an extra $2,501 per year over having just liability coverage. Many drivers will wonder if paying for full coverage is worth it. There isn’t a written rule that works best for making the decision to drop comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is 10% or more of any settlement you would receive from your insurance company, then you might consider buying liability only.
There are a few cases where eliminating full coverage is not in your best interest. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.
Drive safe and save
A great way to find affordable insurance rates in California for teenagers is to be a safe driver and avoid tickets and accidents. The information below shows how violations and accident claims can affect insurance rates for different age groups of insureds. The data assumes a single female driver, comprehensive and collision coverage, $500 deductibles, and no additional discounts are factored in.
The chart shows that the average cost of an auto insurance policy in California per year with a clean driving record and no accidents is $2,679. Factor in two speeding tickets and the average cost rises to $3,588, an increase of $909 each year. Now add in two accidents along with the two speeding tickets and the 12-month cost of insurance for high school students goes up to an average of $7,118. That’s an increase of $4,439, or $370 per month, just for being a less-than-perfect driver!
The information below demonstrates how choosing different deductibles can affect insurance premiums when quoting cheap insurance for high school students. The premiums are based on a married male driver, comprehensive and collision coverage, and no other discounts are factored in.
As shown above, a 30-year-old driver could lower rates by $460 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $692 by selecting a $1,000 deductible. Younger drivers, like the Age 20 category, can cut $1,398 annually by selecting a higher deductible.
If you do raise deductibles, it is important to have enough funds in savings to cover the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
You are probably paying too much for car insurance
Riverside insurance rates are based on many factors that can increase the cost of your policy. Simply improving your credit, buying a different home, or getting a ticket for careless driving may generate price changes resulting in some rates now being affordable when they were higher priced. Not only that, but insurers file new California auto insurance rates without warning to ensure their profitability. A period of higher than normal claims may result in higher prices, while a better claims history may result in cheaper Riverside car insurance rates.
To help illustrate this point, the data below compares the cheapest car insurance in Riverside, CA for a 40-year-old male driver with no prior accidents, a clean driving record, and excellent credit. If we look at prices based on his current risk factors, USAA offers the cheapest car insurance rates in Riverside at $1,249 each year. This is $402 less than the average premium paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide are the remaining top five cheapest Riverside, CA auto insurance companies.
Now we will pretend the driver from the first set of rates an at-fault accident, less-than-perfect credit, and a blemish on his driving record. Due to the fact that each insurance company uses their own formula to set their prices, comparing prices may result in a new list of affordable Riverside car insurance companies as shown below.
Grange now has the lowest price in Riverside with Progressive, Mercury, Allstate, and GEICO also having competitive pricing. This illustrates why it is critical to shop around with many companies when trying to find the most budget-friendly car insurance quotes for high school students. Auto insurance prices are influenced by many factors and can change substantially, so the most affordable company six months ago may now be wasting a lot of money.
The Riverside car insurance agencies listed below can provide answers to your questions and help you determine which policy fits your needs best, as some people have coverage questions and would like to have a little guidance when shopping around for cheaper insurance for teenagers. It’s not always simple to find coverage yourself, and insurance agents can give comfort knowing your coverage gives you decent coverage if you have a claim. To find a Riverside insurance agency nearest to you, click the button after the list.
GEICO Insurance Agent
2711 Canyon Springs Parkway, Suite A-104 – Riverside, CA 92507 – (951) 786-9477
Farmers Insurance: Ronald Alldis
6600 Jurupa Ave #202 – Riverside, CA 92504 – (951) 788-2005
Mike Orme – State Farm Insurance Agent
10452 Magnolia Ave – Riverside, CA 92505 – (951) 688-8206