Top 10 Cheapest Car Insurance Companies

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The cheapest car insurance for 17-year-olds is available at Erie Insurance for $261 per month or $3,137 per year for a comprehensive car insurance policy.

Top 10 Cheapest Car Insurance Companies

Top 10 Cheapest Car Insurance Companies

By: Daniel Robinson Contributor: Daniel Robinson Writer Daniel is a contributor to the management team and writes articles for a number of automotive news sites and marketing firms in the US, UK and Australia, specializing in automotive finance and car care topics. Daniel is the team’s expert guide on car insurance, loans, warranty options, auto repair shops and more.

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Editor: Rashawn Mitchner Editor: Rashawn Mitchner Managing Editor Rashawn Mitchner is an executive team editor with over 10 years of experience in personal finance and insurance.

Car insurance for teenagers is expensive, but some companies offer better rates on average than others. Here at our team of guides, we’ve compared the cheapest car insurance companies across the country for different drivers. Find out how to get affordable insurance for your 17-year-old here.

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Our team of guides are committed to providing reliable information to help you make the best car insurance decision. Because consumers trust us to provide unbiased and accurate information, we’ve created a comprehensive rating system to rank the best car insurance companies. We’ve collected data from dozens of auto insurance providers to rank companies based on a variety of ranking factors. After 800 hours of research, the final result was an overall ranking for each insurer, with the highest-scoring insurers topping the list.

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We estimate that 17-year-olds pay an average of $5,612 per year, or $468 per month, for individual comprehensive policies. That’s about three times the national average for middle-aged drivers, which is $1,730 a year. Car insurance for 17-year-olds is expensive because younger drivers have less experience and are more likely to get into accidents.

Even the best car insurance for 17-year-olds will be more expensive than car insurance for other age groups. This is because teenage drivers are statistically more likely to be involved in car accidents than older drivers.

Seventeen-year-old drivers have less driving experience than older drivers, so insurance companies view them as high-risk drivers. And it’s not without reason. According to the AAA Highway Safety Foundation, in 2015 16- and 17-year-old drivers are about 4.5 times more likely to crash than 30-, 40-, and 50-year-old drivers.

Top 10 Cheapest Car Insurance Companies

Not all car insurance companies charge the same amount to 17-year-old drivers. This is because no two insurance companies are alike and they all use different methods of calculating insurance premiums.

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Several factors affect car insurance rates for 17-year-olds, including their age, location, driving history and credit score. Below are the cheapest car insurance companies for 17 year old drivers.

We find Erie Insurance to be the least expensive regional carrier with average rates of $3,137 per year or $261 per month. USAA is the cheapest domestic carrier with an average rate of $3,398 per year or $283 per month.

Below are 11 popular car insurance companies, ranked by the cost of full coverage for a 17-year-old with their own policy.

*Auto insurance estimates are based on the entire policy: $50,000 bodily injury per person, $100,000 bodily injury per accident, and $50,000 property damage per accident, plus a $500 deductible per collision and comprehensive coverage.

Best Cheap Car Insurance For 17 Year Olds (2023)

The cheapest service provider in one country will not necessarily be the cheapest in another. State laws vary, and companies may assess risk differently in different states. Below you will find the provider with the average annual rate for 17-year-old drivers in each state.

While 17-year-olds pay an average of $5,612 a year for car insurance nationally, some pay twice as much in some states. The average cost of car insurance is highest in Connecticut, Michigan and Florida.

Our best car insurance deals for 17-year-olds offer lower than national average rates, as well as various discounts that apply to younger drivers.

Top 10 Cheapest Car Insurance Companies

Based on availability and average cost, State Farm is the best car insurance for 17-year-olds. Average state farm rates are about 34% lower than national rates for this age group. In addition, State Farm offers discounts and programs that can help teen drivers save money, including:

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Erie insurance is another cheap option for 17-year-old drivers. In fact, the average for this age group is about 44% below the national average. This is a significant difference in the price of annual premiums. Unfortunately, Erie is only available to drivers in Washington and 12 states: Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and Wisconsin.

We estimate that Geico is about 35% cheaper than the national average for 17-year-olds. We also rated Geico as the best provider of good drivers because of their strong reputation in the industry, good customer service, and a wide range of coverage options. Geico offers the following discounts for young drivers:

USAA is generally one of the cheapest carriers, with 17-year-olds paying about 39% less than the national average with USAA. However, USAA is only available to active duty service members, veterans and military family members. Seventeen-year-olds can get coverage if they are in the armed forces or if one of their parents is or was a member of the military. USAA offers the following applicable discounts:

Auto-Owners is one of the cheapest car insurance companies for 17 year olds. Our calculations show that this age group pays car owners about 43% less than the national average. The Auto-Owners program is available in 26 states and offers the following discounts that can benefit 17-year-olds:

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In addition to age, several factors affect the cost of your auto insurance policy, some of which you can control. You can get quotes from different suppliers and find low prices in the following ways.

The type and level of coverage you want will definitely affect your car insurance rates. Most states only require liability insurance, which covers other vehicles and other people’s medical bills if you cause an accident. This is the cheapest option.

But if you have a car loan, you’ll need comprehensive coverage, including collision and comprehensive insurance. They cover damage to your car in the event of an accident or collision with an object. You can set policy limits to control costs.

Top 10 Cheapest Car Insurance Companies

Increasing your deductible can lower your car insurance premiums. But if you’re in an accident, you’ll have to pay more out of pocket, so don’t raise your deductible unreasonably high.

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Car insurance for teenagers is already expensive, so it’s important to have a good driving record. A good driving record allows you to get safe driver discounts.

By far the best way to save on car insurance for teenagers is to include the young driver on their parents’ policy. An individual policy will almost always cost more, even if you shop around with better providers.

Seventeen-year-olds can get certain discounts that other drivers don’t have. Discounts like the ones below can help ease the stress of higher insurance fees.

You can also look for accident relief as an add-on. Accident waivers keep your rates the same even if you have one accident that is your fault. However, some companies offer this option only after a few years.

Luxury Car Insurance Rates: Cost Guide (2023)

Seventeen-year-olds with good driving records can find lower-than-average rates from providers like Erie, Auto-Owners, USAA, Geico and State Farm. When shopping, we recommend comparing at least three car insurance quotes.

According to our research, Erie Insurance offers the cheapest car insurance for 17-year-olds at $261 per month or $3,137 per year for a full policy. Car owners and USAA may also be offered.

Our cost calculations show that 17-year-old drivers in Connecticut can find affordable coverage for $228 per month or $2,731 per year from Geico.

Top 10 Cheapest Car Insurance Companies

There are plenty of cheap cars for 17-year-olds, from compacts to sedans to midsize SUVs. In general, sports and luxury cars tend to cost more to insure, so avoid them. Also, insurance is cheaper if you own your own car and don’t need comprehensive coverage.

Cheapest Full Coverage Car Insurance Rates And Companies (2023)

Even for a 17-year-old, a base model Dodge Charger costs only a little more to insure than a standard car. However, upgrading to higher-performance models like the 485-horsepower Scat Pack or the 650-horsepower SRT Hellcat will raise your risk profile in the eyes of insurance companies and cost more.

Yes, 17-year-olds can pay monthly for car insurance. All major providers offer monthly payments. Some offer small discounts for paying in advance for a full six months or a year, while others do not.

Because users trust us to provide unbiased and accurate information, we have developed a comprehensive rating system to create our ratings.

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