The vehicle on the policy is a large factor when comparing the most economical auto insurance for teenage males. Vehicles with lots of speed or power, poor crash test ratings, or a history of substantial liability claims will cost much more to insure than more modest models.
The data below estimates coverage premiums for a selection of the cheapest vehicles to insure.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$5,145|
|Ford Escape Limited 2WD||$5,194|
|Dodge Grand Caravan CV||$5,787|
|Ford Explorer XLT AWD||$5,796|
|Ford F-150 XL Crew Cab 4WD||$5,835|
|Volkswagen Jetta 2.0T Station Wagon||$5,874|
|Chevrolet Impala LS||$6,054|
|Toyota Tacoma 2WD||$6,062|
|Ford Edge Limited 2WD||$6,054|
|Honda Odyssey EX||$6,062|
|Chevrolet Silverado LS Extended Cab 4WD||$6,103|
|Toyota Camry LE||$6,113|
|Toyota RAV4 Sport 2WD||$6,103|
|Chevrolet Malibu LT||$6,151|
|Hyundai Elantra SE 4-Dr Sedan||$6,418|
|Toyota Corolla LE||$6,424|
|Ford Fusion SEL 4-Dr Sedan||$6,467|
|GMC Sierra SLE Regular Cab 4WD||$6,472|
|Jeep Grand Cherokee SRT-8 4WD||$6,467|
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Data rating is based on single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, and claim-free. Table data does not factor in specific zip code location which can lower or raise auto insurance rates significantly.
Based upon the rates shown, vehicles like the Honda CR-V, Ford Escape, Toyota Prius, and Dodge Grand Caravan should be some of the less-costly vehicles to insure for teen boys. The cost of auto insurance will be more expensive just because there is more risk for teenage males, but generally speaking those makes and models will most likely have the cheapest car insurance rates that you’ll find.
Establishing which companies offer the cheapest auto insurance rates for teenage males may require more work than just picking a company at random. Every car insurance company has a unique approach for filing rates in each state, so to begin we’ll rank the most competitive auto insurance companies in Indianapolis.
We do need to point out that Indiana auto insurance rates are impacted by many things that control the cost of your policy. Improving your credit score, buying a different home, or getting a driving violation may cause policy rate changes resulting in some rates now being more affordable than before.
Find Cheaper Car Insurance for Teens
Travelers quotes some of the most affordable car insurance rates in Indianapolis at around $602 a year. Cincinnati Insurance, USAA, Erie, and Western Reserve would also be considered some of the cheapest Indianapolis, IN insurance companies.
In this example, if you are insured with Erie and switched to Cincinnati Insurance, you might achieve savings of upwards of $68. Insureds with Western Reserve might save as much as $206 a year, and Indiana Farmers Mutual policyholders might lower prices by up to $217 a year.
Bear in mind that those estimates are averages for all drivers and vehicles in Indiana and and are not figured with a vehicle location for teenage males. So the car insurance company that has the cheapest price for you may not even be in the list above. That emphasizes why you need to compare rates from as many companies as possible using your own specific driver information and vehicle.
One of the more important things that are looked at to determine the cost of insurance is where you live. Areas with more people or even just a higher incidence of claims are more likely to have higher rates, whereas areas that tend to be more rural benefit from having to pay less for coverage.
The following table sorts the most expensive cities in Indiana for teenage males to purchase auto insurance in. Indianapolis is listed at #7 with a yearly cost of $1,082 for the average insured, which is approximately $90 each month.
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Rate quotes are estimated as the specific garaging location can change prices considerably.
Get discount Indianapolis auto insurance rates
Insurers that offer cheap quotes for teenage males may also provide discounts that can reduce rates by as much as 40% or more if you are eligible for them. A list of auto insurance companies and some of the discounts can be found below.
- 21st Century offers premium reductions for good student, air bags, theft prevention, student driver, 55 and older, and anti-lock brakes.
- Progressive offers discounts for good student, continuous coverage, multi-vehicle, multi-policy, online signing, and online quote discount.
- State Farm may include discounts for driver’s education, Steer Clear safe driver discount, Drive Safe & Save, accident-free, multiple autos, good student, and safe vehicle.
- Nationwide has discounts for easy pay, business or organization, defensive driving, multi-policy, good student, and family plan.
- Esurance includes discounts for online shopper, paid-in-full, Pac-12 alumni, safety device, anti-theft, good driver, and emergency road assistance.
- The Hartford has savings for driver training, anti-theft, good student, air bag, and defensive driver.
The diagram below shows the difference between premium costs with and without discounts being applied to the rates. The data assumes a male driver, no driving violations, no at-fault accidents, Indiana state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with good student, passive restraint, paid-in-full, continuous coverage, anti-theft, and vehicle safety discounts applied. When drivers take advantage of discounts, theaverage amount saved on auto insurance for teenage males is 28% or $530.
The example below illustrates how your deductible choice can raise or lower insurance costs when researching cheap insurance for teenage males. The prices are based on a single male driver, comp and collision included, and no discounts are applied to the premium.
The chart above illustrates that a 30-year-old driver could lower their car insurance rates by $310 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $470 by changing to a $1,000 deductible. Young drivers, like the 20-year-old category, can cut as much as $912 or more by using higher deductibles when buying full coverage.
When increasing deductibles, it will be required to have plenty of money set aside to be able to cover the extra out-of-pocket expense that deters many people from opting for higher deductibles.
You are probably paying too much for car insurance
Indianapolis auto insurance rates are impacted by many factors that will increase or decrease the cost of coverage. Turning one year older, increasing deductibles, or getting caught speeding can cause premium changes that can make some companies cheaper than others. Not only that, but insurers modify rates every year as an adjustment for underwriting gains or losses. Higher than normal claims can result in additional premium costs, while profitable underwriting can produce more affordable Indianapolis car insurance rates.
To illustrate this point, the data below shows rates for the cheapest car insurance in Indianapolis, IN for a 35-year-old female driver with no accidents or violations, and solid credit. If we compare prices based on her current risk factors, Travelers might quote the cheapest car insurance rates in Indianapolis at $746 per year. This is $494 less than the average premium paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve are also included in the top five cheapest Indianapolis, IN auto insurance companies.
The chart below compares rates after we give the driver from the above example a chargeable accident, a lower credit rating, and a blemish on her driving record. Due to the fact that each insurance company has their own unique process to determine rates, getting updated rate quotes most likely will result in a significantly different list of affordable companies as shown below.
The Hartford now has the best price on car insurance in Indianapolis with Auto-Owners, USAA, Nationwide, and Cincinnati Insurance now rounding out the top five. This example demonstrates why it is important to shop around to get the most budget-friendly auto insurance quotes for teenage males. Prices are determined by many risk factors and can increase or decrease at any time, so the most affordable company the last time you compared rates may now be priced much higher than other options.
How to find economical insurance for teenage males
The list below shows many thrifty solutions that can help Indianapolis drivers buy low-cost car insurance.
- Violations and traffic tickets increase rates
- Full coverage is expensive so only insure older vehicles for liability only
- Frequent claims may make car insurance unaffordable
- Bundle home or renters insurance to earn a discount on car insurance
- Accident-free drivers may qualify for discounts
- Safe vehicles generally have lower rates
- Comparison shop frequently
The last item on the list is particularly crucial, as we stressed in this write-up. Prices can change considerably in a year, so drivers shouldn’t be resistant to switch companies if a more affordable rate is found.
Having a favorite company is great, but it isn’t a good idea if that loyalty results in overpaying lots of hard earned cash every month. In just a couple of minutes you could compare prices to find cheaper insurance for teenage males in Indianapolis.
If you aren’t sure which coverage to buy and prefer to have professional advice when buying car insurance for teen boys, the agents shown below are a good start to provide answers to your questions and help you determine which auto insurance policy fits you best.
To find an auto insurance agency in your neighborhood, click the button below the list or click here to compare price quotes now.
- Jerry Ortner – State Farm Insurance Agent
7424 Rockville Rd – Indianapolis, IN 46214 – (317) 273-0709
- Adam Krockenberger – State Farm Insurance Agent
5685 Lafayette Rd #700 – Indianapolis, IN 46254 – (317) 387-9182
- Burns Insurance Agency – Commercial, Personal and Transportation Insurance Specialists
1433 N Meridian St – Indianapolis, IN 46202 – (317) 377-1100
- Walker and Associates Insurance Agency
7364 E Washington St – Indianapolis, IN 46219 – (317) 353-8000
- Affordable Insurance Agency
10 S Mickley Ave – Indianapolis, IN 46241 – (317) 484-9195