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Things have gotten expensive. Owning a car was already an expensive thing, but that is only the tip of the iceberg. A car is not the only thing you need to pay for. Along with the maintenance costs, you need to pay a hefty amount for the insurance, three to be exact. And to make matters worse, add the ever-rising gas prices and you need to rob a bank to own and use a car. In this expensive affair, the people who are hit the worst are teenagers.
Teenagers already have a constant struggle with money, and getting insurance for them just adds to the burden. That’s why we have looked at the different insurance companies in the US and found the cheapest car insurance carriers for teens. Considering every possible factor that would be helpful for teenagers, we have made this list of car insurance that comes with a unique benefit. But since teenagers (and adults) first look for a lower price to pay, we have kept the price as the biggest factor.
Looking at the overall average price of the insurance and premium (both yearly and monthly), two names come out at the top; Geico and State Farm. These two insurance companies have the lowest prices in the country. Depending on the state you are in and your driving record, one of these could be cheaper than the other. But when it comes to cheap auto insurance, it’s definitely going to be either of the two.
Geico: Geico is one of the largest insurance companies in the country, if not the largest. There are many benefits of choosing Geico. It has a strong nationwide network, and excellent customer service, and is perhaps the most dependable and reliable insurance company in the US. Geico is also our recommendation for first-time insurance buyers.
Taking the average insurance premium for yearly and monthly rates, Geico offers a very affordable $354 yearly premium and just a $29 monthly premium. These rates might differ depending on your driving record and other factors, but you can get an idea with these numbers.
What’s even great about Geico is that they offer almost 20 types of discounts, which is the second-highest in the country. This makes their insurance even more affordable. These discounts include a “Good Student” discount, which could be great for teenagers if they are good students. Geico also has the best-discounted rates for good drivers. Having bad credit can dramatically increase the insurance premium rates, but Geico shines here by offering the best prices for people with a bad credit score.
With its strong presence all over the country, you cannot go wrong with Geico.
Both Geico and State Farm are almost the same in terms of cheap car insurance, and the difference would only come from your driving record or the state you are in. State Farm is an equally great auto insurance option for teens as they offer some of the best prices in the country and their reliability is excellent. But there are some places where State Farm outperforms Geico.
Since we are talking about teens, it is well known that they are not the greatest drivers on the roads. Many of them have already tarnished their driving record before they could get their own insurance. So getting cheap car insurance could be even more difficult, which is saying a lot. So how does State Farm help?
Apart from the cheapest insurance rates, State Farm offers the best insurance prices for people with a speeding ticket, people who have been involved in an accident, and the ever-so-common people with DUI charges. The difference in price is substantial, with price differences being as huge as $681. This kind of money matters to anyone, let alone teenagers.
So State Farm and Geico are the cheapest car insurance for teens. With extremely low prices and great dependability, these two insurance companies are the cheapest options for teens.
If one of your family members is associated with the military or is a veteran, then you can opt for USAA auto insurance which is even cheaper than State Farm and Geico in many cases. How much cheaper? Almost 27% cheaper than the cheapest insurance companies, which makes it great for teenagers. But the only issue is that you need to have someone in the service to get it, as USAA is only available for veterans, military personnel, and their family.
Apart from these two insurance companies, Erie is another great insurer with very cheap rates, especially for people with a bad driving record. The only downside here is that it is available only in 12 states currently and Erie also has a poor record of receiving the most complaints for a lack of better service.
If you are looking to buy car insurance and the only use of the car is for commuting from college or to your job, then Metromile is also a great option for low-mileage drivers. It has great insurance rates and the reliability is great. The only downside is that it is available only in eight states; Washington, Oregon, New Jersey, Pennsylvania, Virginia, Arizona, California, and Illinois. So if you live in one of these states, then go for Metromile.
In summary, Geico and State Farm are the cheapest and most reliable auto insurance companies with a great network and dependability. But a lot of factors decide the insurance price and it is always advised to compare as many vehicle insurance companies as possible to get the cheapest prices.
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