One of the more important things that help determine auto insurance rates is where you normally keep your vehicle. Areas with a lot of weather claims or more people tend to have higher rates, whereas areas with lower crime rates and fewer weather claims benefit from lower coverage costs.
The illustration below rates the most expensive areas in California for 18 year olds to purchase a policy in. Riverside ranks #14 with an annual rate of $1,497 for coverage, which is around $125 per month.
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Premium costs are comparative as the specific Riverside residence address can lower or raise rates considerably.
The car, truck, or SUV needing coverage is one of the largest factors when trying to find low-priced auto insurance for 18 year olds. Vehicles with high performance, poor crash test ratings, or a history of substantial liability claims will cost more to insure than more modest models.
The list below ranks auto insurance premiums for a selection of the most cost-effective automobiles to buy insurance for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$4,015|
|Honda Accord EX 4-Dr Sedan||$4,024|
|Ford Escape XLT 4WD||$4,060|
|Ford F-150 XL Regular Cab 2WD||$4,184|
|Ford Edge SE 2WD||$4,453|
|Ford Explorer XLT 4WD||$4,497|
|Ford Focus SE 4-Dr Sedan||$4,720|
|Chevrolet Silverado LT Extended Cab 4WD||$4,764|
|Chevrolet Malibu LS||$4,772|
|Chevrolet Impala LT||$4,764|
|Toyota RAV4 Limited 2WD||$4,773|
|Chevrolet Equinox LS 2WD||$4,764|
|Dodge Grand Caravan Crew||$4,811|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$4,821|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$4,951|
|Toyota Camry SE||$5,031|
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Data variables include single male driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include claim-free, and safe-driver. Prices do not factor in specific garaging location which can influence prices considerably.
Looking at the rates, we can conclude that models like the Honda CR-V, Honda Accord, and Ford Escape will be the most budget-friendly vehicles to insure for teen drivers. The cost of auto insurance will tend to be more expensive anyway because there is more claim exposure for 18 year olds, but in general those particular vehicles will probably have the lowest prices compared to other types of vehicles.
Rate comparison of full coverage and liability-only
Reducing the cost of insurance should be important to most vehicle owners, and a good way to find cheap insurance for 18 year olds is to buy only liability coverage. The illustration below shows the comparison of car insurance costs with and without physical damage coverage. The premiums are based on no accidents or driving violations, $1,000 deductibles, drivers are single, and no discounts are factored in.
If all age groups are averaged, physical damage coverage costs $1,849 per year more than just insuring for liability. Many people question if paying for full coverage is worth it. There is no definitive rule for eliminating comp and collision coverage, but there is a general guideline. If the yearly cost of full coverage is more than around 10% of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
For example, let’s say your vehicle’s replacement value is $10,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $9,000 after paying the physical damage deductible. If you are currently paying more than $900 annually to have full coverage, then it might be time to buy liability only.
Discounts on Riverside car insurance rates
Insurance providers that offer cheap quotes for 18 year olds may also give you premium discounts that can lower rates by 35% or more if you meet eligibility requirements. A list of insurance companies and their offered discounts can be found below.
- State Farm may include discounts for driver’s education, student away at school, defensive driving training, good driver, and safe vehicle.
- GEICO discounts include driver training, anti-theft, seat belt use, good student, emergency military deployment, and daytime running lights.
- SAFECO offers discounts including homeowner, teen safe driver, drive less, safe driver, anti-theft, accident prevention training, and anti-lock brakes.
- Farmers Insurance has discounts for switch companies, alternative fuel, bundle discounts, electronic funds transfer, multi-car, distant student, and mature driver.
- AAA has savings for good driver, AAA membership discount, anti-theft, education and occupation, multi-policy, and multi-car.
- USAA includes discounts for safe driver, good student, military installation, driver training, annual mileage, defensive driver, and multi-vehicle.
The diagram below compares annual premium costs with and without discounts applied to the policy premium. The costs are based on a male driver, no claims or driving violations, California state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second shows the rates with vehicle safety, paperless filing, anti-theft, passive restraint, paid-in-full, and continuous coverage discounts applied. When taking advantage of discounts, the average savings per year on insurance for 18 year olds is 28% or $699.
What aren’t you shopping around?
Riverside, CA insurance rates are calculated based on many things which can substantially decrease or increase the price you pay for coverage. Simply having a birthday, having a claim, or having an at-fault accident can produce rate changes that may make certain companies more affordable than competitors.
Not only may things change on your end, but car insurance companies file new rates every year in order to remain profitable. Higher than normal claim frequency or severity can result in higher rates, while lower claim levels may produce lower-priced Riverside car insurance rates.
To illustrate this point, the data below shows rates for the cheapest car insurance in Riverside, CA for a 35-year-old female driver with no accidents or violations, and good financial standing. If we compare prices based on her current rating profile, USAA might quote the lowest car insurance rates in Riverside at $1,311 per year. This is $340 less than the average policy premium paid by California drivers of $1,651. Wawanesa, CSAA, Century National, and Nationwide are the remainder of the cheapest Riverside, CA auto insurance companies.
In the next rate comparison, we’ll give the driver in the first example a couple of claims, slightly worse credit, and an imperfect driving record. Because each insurer has a unique formula for filing rates in each state, getting updated rate quotes may result in a new list of affordable companies as shown below.
Grange now has the cheapest car insurance in Riverside, CA with Allstate, GEICO, Mercury, and Allied completing the list. This illustrates why it is critical to compare many different companies when trying to find the most economical insurance quotes for 18 year olds. Rates are calculated by many risk factors and can change substantially, so the best price the last time you checked may now be costing you a lot of money.