Cheapest Small Cars To Insure
Smaller cars are more expensive to insure because they tend to get involved in accidents. Statistically, small cars are involved in accidents more than bigger cars because they are faster and easier to maneuver. This is why many abusive drivers take advantage of it by driving recklessly, causing collisions that may or may not involve other cars. Below are the top 10 cheapest small cars to insure. The most affordable small car to insure is the 2016 Chevrolet Cruze LS that costs an annual average of $1,337, while the tenth cheapest is the 2016 Subaru Impreza that charges a yearly average of $1,421.
|Cheapest Small Cars to Insure|
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Cheapest Cars To Insure Among Popular Models
While you might expect a cheaper car to have a lower insurance rate, thats not always the case. Car insurance rates vary, sometimes significantly, depending on the kind of vehicle you drive .
For each of the 25 bestselling vehicles NerdWallet looked at, we found the average insurance rate, the manufacturers suggested retail price and the insurance cost as a percentage of the MSRP.
Heres what it truly costs to insure the most popular cars in the country:
» MORE:Compare car insurance rates
Which Cars Are Cheaper To Insure For Young Drivers
When youre shopping for a car, the last thing you want to worry about is insurance. Sure, its important to find a car thats comfortable and fits your needs, but insurance is a whole other story. Which cars are cheaper to insure for young drivers? In this article, well explore this question and provide you with the answers you need. From affordable sedans to sports cars, we have everything you need to make an informed decision. Dont wait any longerstart shopping for the car of your dreams today!
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How We Conducted The Study
The ranking was based on the most purchased cars in 2014 that cost less than $30,000 there were a total of 125 cars included in the study. The example driver we used was an 18-year-old male, who had a clean driving record and a good credit score, who used his car mostly for commuting to school or work.
The average cost for insuring each car was calculated by getting quotes from 20 different auto insurance companies in Pennsylvania. We used requirements for auto insurance in Pennsylvania for the policy coverage in the study.
Pennsylvania Required Car Insurance Coverage
|PA Required Min. Limits|
The 10 Cheapest Cars To Insure For Young Drivers
At Compare.com, its our mission to find simple ways to help our customers save money on the things they need. While we partner with some of the companies and brands we talk about in our articles, all of our content is written and reviewed by our independent editorial team and never influenced by our partnerships. Learn about how we make money, review our editorial standards, and reference our data methodology to learn more about why you can trust Compare.com.
Finding the right car for a teen or young driver can take some research. Not only do you want to choose a car with good fuel economy and a good safety rating, but you want to make sure it wont come with sky-high insurance premiums. Teenagers and other new drivers are considered higher-risk drivers, so insurance can be expensive.
Fortunately, some types of cars are cheaper to insure than others. By selecting the right make and model and by shopping around for the best auto insurance quotes youll be able to get behind the wheel without breaking the bank.
With that in mind, here are the 10 cheapest cars to insure for young drivers and three ways to lower the cost of car insurance coverage.
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Quick Stats On Teen Drivers And Auto Insurance
Before we go into our in-depth list of cheap cars for teens to insure, lets take a couple of minutes to go through some quick statistics about teenage drivers and teen drivers insurance. Many parents are caught unaware, not knowing exactly how expensive teenage drivers insurance is. They often reference into the past whenever they were teenagers and how cheap and affordable their insurance policies were. The only problem is- that was a long time ago.
Today, teenage drivers are far more likely to get into an accident than experienced adult drivers who tend to be more aware of the road around them. Even with todays advanced automotive safety technology, finding solutions to the age-old problem of keeping young teens safe on the road is still far from actualization.
For example, teen drivers between ages 15 and 20 account for over 8% of all of the United States accidents. To give you a better perspective, drivers between 15 and 20 make up 5.5% of all of the drivers in the United States! Thats an incredibly high number of accidents compared to a relatively small group of drivers.
Of the teenagers who do pass away from injuries or being involved in a motor vehicle accident, nearly 20% of them are impaired drivers and 50% of them were not even wearing a seatbelt. The remaining 30% seemed to die from natural causes related to their injuries.
How To Choose The Best Cars For New Drivers
Choosing your first car can be an exciting, as well as daunting, experience. Heres what to take into consideration, when thinking about the best cars for new drivers.
Every driver remembers the first car they owned, and choosing the right car and insurance group as a new driver is a big decision.
Its not just the purchase cost you have to consider when buying your first car you also need to factor in insurance, running costs, MOTs, road tax, and any repair costs.
Read on and learn about the best first cars for new drivers in 2021. Whether you’re in the market for a brand new model, or are on a second-hand budget.
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The Different Types Of Coverage Young Drivers Need
There are a few things young drivers need to be aware of when it comes to car insurance. For one, they need to make sure they have enough liability coverage. This covers them if they are in an accident and are held liable. Young drivers also need to consider collision coverage, which covers damage done to their car in an accident, and comprehensive coverage, which protects them from any unexpected costs that may come up while driving, like getting a ticket or having something stolen from their vehicle. Finally, young drivers should make sure their car insurance policy has uninsured motorist coverage, which helps cover them if they are hit by someone who does not have insurance.
Cheapest Car Insurance In California For Drivers With Bad Credit
In California, car insurance companies cannot use your credit score to determine your premiums. While insurers in most states use credit scores to determine premium costs, California is an exception. However, as a good credit score can have many financial benefits, its still advisable to improve your score if possible.
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Cheap Classic Cars To Insure For 17
They may not have Bluetooth, automatic lights or even electric windows, but classic cars do have a lot of character and low insurance premiums, making them among the best cars for new drivers. At Adrian Flux we say the older the better when it comes to affordable policies for teenage drivers were pretty good at insuring classics too!
Here are a few of the cheaper classic cars to insure:
Cheapest Cars To Insure For Teenage Drivers
Remember back when you were a teenager? Things were probably a little bit simpler. Cars were cheaper, you could buy them in cash with a part-time job, and maintenance was affordable. Today, however, the story is completely different. In fact, obtaining a vehicle in todays constantly expanding auto market is almost impossible unless you have a near-perfect credit score, are willing to put down massive amounts, or if you choose an affordable car to go on your teen insurance policy.
That being said, though, there are still a number of different affordable car models that you can choose from for your teen. The vehicles discussed below are all brand-new 2022 autos that include the latest safety technology, which will not only give you peace of mind but may also reduce the cost of your teenage drivers insurance!
In this section, were going to be looking at the cheapest cars that parents/guardians can buy for their teenage drivers without having to spend an arm and a leg on insurance!
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Average Cost Of Car Insurance For 22
On average, you can expect auto insurance rates to be about 7.7% lower for a 22-year-old than for a 21-year-old, NerdWallets analysis found.
Heres what our analysis of 2020 car insurance rates by state shows for 22-year-old drivers with good credit and no recent accidents:
Hawaii is the cheapest state for full coverage insurance with a yearly rate of $1,092 on average, followed by North Carolina and Massachusetts.
Louisiana is the most expensive state for full coverage with an average annual rate of $4,160 on average.
Hawaii is the cheapest state for minimum-required car insurance with an average annual rate of $358. Iowa and South Dakota have the next cheapest yearly rates on average.
Michigan has the most expensive minimum-required car insurance with a yearly rate of $1,991 on average.
See below for how your state stacks up for both full and minimum coverage rates for 22-year-old drivers.
Cheapest Full Coverage Car Insurance In California
If you want full coverage car insurance that protects against third-party damages and those to your own vehicle, we identified the most affordable options in California, on average:
- Esurance: $1,045 per year
- Progressive: $1,121 per year
The average price of Esurance is $76 cheaper per month than Progressive, but both will be good options for those looking for cheap full coverage insurance. By contrast, Allied insurance costs about $1,745 per year and is the most expensive in California.
CHEAPEST FULL COVERAGE CAR INSURANCE IN CALIFORNIA
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Rates are for a policy with comprehensive and collision insurance with $100,000 in bodily injury liability coverage per person, $300,000 in bodily injury liability coverage per accident and $100,000 in property damage coverage per accident.
The 10 Best Cheap Cars For New Drivers
Its quite easy to find a cheap first car, but the total cost of getting on the road can really add up – the average yearly price for car insurance is around £470.
For younger or newer drivers, premiums can be much higher. And on top of that, most insurers will charge you interest if you want to pay monthly.
Not to worry, though – if youre a new driver in the UK and youre wondering what car to buy, we’ve gone through Google data to find the 10 most popular cars that are both cheap to buy and insure.
Choose A Plan With A Higher Deductible
A car insurance deductible is the amount you have to pay out of pocket before your auto insurance company covers the cost of car repairs or property damage if you get into an accident. Having a low deductible is usually a good idea, but if you want to keep car insurance costs down, then choosing a higher deductible is an easy way to lower your premium.
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Compare Auto Insurance Quotes
Finally, the most surefire way to find affordable car insurance for teen drivers is to compare quotes . Unless you shop around a bit, youll never know whether or not theres a better deal out there. Many insurers also offer considerable discounts for drivers who are switching from another insurer, so keep that in mind.
How Car Models Affect Insurance Rates Down To The Trim
Car insurance companies set pricing based on the risk theyve determined you and your vehicle present. To determine a vehicles risk, insurers consider claim histories, including accidents, repair costs and rates of car theft. More and more costly claims for a particular model mean higher car insurance rates.
Conversely, the cheapest cars to insure tend to have fewer, lower-cost claims.
» MORE:Car insurance estimator
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What You Need To Know About Car Insurance For Young Drivers
Young drivers are often more prone to accidents and are less experienced than older drivers, so it pays to shop around for car insurance rates. Here are a few things to keep in mind when choosing car insurance for young drivers:» Young drivers typically pay more for car insurance because they are considered higher-risk by insurers.» Compare rates online or with a broker before signing up with any one carrier. Many insurers offer discounts for bundling car insurance and other services, such as roadside assistance.» Get comprehensive and collision coverage these are the two types of coverage that will cost you the most money. Comprehensive coverage includes damage to your vehicle from events such as theft or collisions with objects, while collision coverage pays for damages done to your vehicle in an accident.
What Is A Good First Car For A Teenager
There is a reason most high school parking lots are filled with Toyota Corollas, Honda Civics, and Ford Fusions small, reliable, affordable coupes and sedans are an excellent choice for a teenager.
When choosing a car for a teenage driver, there are several factors youll want to consider, including:
Cost to insure: Insurance for teen drivers isnt cheap, and a single accident or moving violation is enough to cause their car insurance costs to skyrocket. Choosing a car that is cheaper to insure can save you a lot of money on your car insurance.
Cost to repair or replace: Teenagers have higher insurance rates because they are more likely to be in an accident or file a claim than an adult. This means teens may have more car repairs and be more likely to total a car than their parents, so choosing a car that is cheap to repair or replace can help you save a significant amount of money over the years.
Safety features: Drivers of all ages benefit from having safety features, like lane departure warnings, tire pressure monitors, and electronic stability control, to help prevent accidents.
Ease of use: Large trucks and SUVs can be difficult to handle on the road so many parents choose to buy their teens a smaller car instead.
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Cheapest Cars To Insure For New Drivers Over 25
Insurers view those aged over 25 as less likely to be involved in a collision – which is backed up by the statistics.
Average claim amounts are also higher – being £3,667 for 18-20 year olds, falling to £2,905 for 21-25 year olds.
Indeed, Experian estimates that premiums fall by about 12.5% from ages 24 to 25. However, the savings could be considerably more in some cases.
According to data from insurer Admiral, five of the cheapest cars to insure for new drivers over 25 are:
Should I Choose A Petrol Diesel Or Electric First Car
You may be better going for a petrol car over a diesel car. As a new driver, chances are you are going to be looking at a smaller car, of which there are fewer diesel models available, as the diesel car becomes less fashionable.
Diesel cars are more economical, but you will need to be travelling long distances for the savings to kick in. Some petrol engines have the option of a stop-start, which can take some getting used to, but will offer some fuel savings.
Electric cars are the future – with cheaper fuel costs – but they still suffer from limited range compared with more traditionally fuelled vehicles. They also take longer to fill up and there are fewer public charge points to use during a long journey, or while away from home. They tend to cost more to buy and insure – although over the longer term you can make savings thanks to cheaper fuel and running costs.
However, following the announcement of the diesel and petrol ban, the government have pledged extra grants for electric car buyers and investing more money on charging points.
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How Can I Save Money When I Add My Teen Driver To My Car Insurance Policy
You may be able to soften the financial impact of adding a teen driver to your policy by asking your insurance agent if you qualify for any car insurance discounts. While discounts can land you immediate savings, keep an eye on the long term.
As your teen driver gets valuable driving experience and avoids traffic violations and car accidents, your rates may go down. Keeping tickets and accidents off your teens record will pay off. Rates usually start to drop around age 25.