The words “bargain” and “auto insurance” really don’t belong together, specifically when you are trying to find the lowest insurance rates for young drivers. To save some money, let’s start the ball rolling by going over some things that have a considerable impact on car insurance rates, and find a way to lower the cost of your next policy.
Deciphering which insurers offer the lowest-priced insurance rates for young drivers may require a tad more effort in order to find the lowest price quote.
Each auto insurer uses their own formula for filing rates in each state, so let’s take a look at the insurance companies with the overall cheapest rates in Cleveland, OH. It’s a good idea to be aware that Cleveland insurance rates are impacted by many things which can substantially decrease or increase the cost of your policy. Getting older, buying a different vehicle, or getting a ticket for running a stop sign can cause premium changes that can now make some companies cheaper than others.
Find the Best Cheap Insurance for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $628 |
| 2 | Erie | $681 |
| 3 | Allied | $690 |
| 4 | Frankenmuth | $701 |
| 5 | Travelers | $733 |
| 6 | USAA | $741 |
| 7 | Cincinnati Insurance | $749 |
| 8 | Merchants Insurance Group | $755 |
| 9 | Motorists Mutual | $792 |
| 10 | Grange Mutual | $836 |
| 11 | General Casualty | $837 |
| 12 | State Farm | $867 |
| 13 | Central Mutual | $874 |
| 14 | Hastings Mutual | $893 |
| 15 | Atlantic States | $904 |
| 16 | Westfield | $936 |
| 17 | Progressive | $953 |
| 18 | Western Reserve | $961 |
| 19 | Nationwide | $988 |
| 20 | Auto-Owners | $998 |
| Get Personalized Rates Go | ||
Utica National generally has some of the most affordable car insurance rates in Cleveland at around $628 per year. This is $412 less than the average policy premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers would also make the list of some of the lowest-priced Cleveland, OH auto insurance companies.
In this example, if you have coverage with Travelers and switched to Erie, you may see savings of around $52. Customers with USAA might save as much as $60 a year, and Cincinnati Insurance insureds might see rate reductions of $68 a year.
It’s important to note that these policy prices are averaged across all insureds and vehicles and do not take into consideration a specific vehicle garaging location for young drivers. So the auto insurance company that fits your needs best may not even be in the top 33 companies shown above. That point stresses why you need to compare rates from multiple companies using your own individual information.
The vehicle model you are insuring is one of the main factors that determines whether or not you can buy cheap coverage for young drivers. Vehicles with limited top-end speed, excellent safety ratings, or a low likelihood of having liability claims will cost much less to insure than adrenaline junky models.
The next table ranks coverage premiums for the most cost-effective vehicles to insure.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $5,201 |
| Honda CR-V LX 4WD | $5,211 |
| Jeep Wrangler Sport 4WD 2-Dr | $5,442 |
| Volkswagen Jetta S 2.5 Station Wagon | $5,593 |
| Ford Escape Limited 4WD | $5,603 |
| Toyota Prius | $5,649 |
| Ford Focus S 4-Dr Sedan | $6,120 |
| Honda Civic DX 4-Dr Sedan | $6,125 |
| Ford Edge Limited 2WD | $6,120 |
| Dodge Grand Caravan Hero | $6,174 |
| Toyota Tacoma Double Cab 4WD | $6,181 |
| Toyota RAV4 4WD | $6,174 |
| Ford Explorer Limited 4WD | $6,230 |
| Chevrolet Impala LTZ | $6,514 |
| Honda Odyssey EX-L W/Navigation | $6,523 |
| Find Cheaper Rates Go | |
Data based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium costs do not factor in the specific area where the vehicle is garaged which can decrease or increase coverage rates considerably.
Looking at the data, you can presume that makes and models like the Hyundai Elantra, Honda CR-V, and Jeep Wrangler are most likely to be some of the cheapest vehicles to insure for youthful drivers. Prices will be more expensive just due to the fact that there is more exposure for young drivers, but in general those vehicles will most likely have the cheapest car insurance rates compared to all other vehicles.
Cautious Cleveland drivers save money
In a perfect world, the ideal way to snag low insurance prices for youthful drivers is to be an attentive driver and avoid tickets and accidents. The diagram below demonstrates how traffic citations and accidents influence insurance costs for each age group. The price estimates are based on a single male driver, full coverage, $500 deductibles, and no policy discounts are applied.
The data in the chart shows the average cost of an auto insurance policy per year with a clean driving record and no accidents is $1,077. Receive two speeding tickets and the average cost jumps to $1,421, an increase of $344 each year. Now add two accidents along with the two speeding tickets and the yearly cost of insurance for young drivers increases to an average of $2,760. That’s an increase of $1,682, or $140 per month, just for not keeping your driving record clean!
The illustration below illustrates how choosing a deductible can increase or decrease insurance rates when trying to find cheap insurance for young drivers. The data is based on a single female driver, comp and collision included, and no discounts are factored in.
As shown above, a 30-year-old driver could save $246 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $372 by switching to a $1,000 deductible. Youthful drivers, such as the 20-year-old chart data, could drop their prices $548 annually by choosing a higher deductible.
If you make the decision to raise deductibles, it is necessary to have enough in a savings account to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Discount Cleveland insurance rates
Insurers that sell policies for young drivers may provide rate discounts that could reduce prices by as much as 40% or more if you qualify for them. Companies and the discounts they provide can be read below.
- 21st Century may have discounts that include defensive driver, early bird, driver training, 55 and older, teen driver, student driver, and good student.
- Progressive may include discounts for homeowner, continuous coverage, multi-vehicle, multi-policy, online signing, online quote discount, and good student.
- State Farm has savings for anti-theft, good student, student away at school, passive restraint, multiple autos, safe vehicle, and driver’s education.
- Nationwide offers discounts for family plan, accident-free, business or organization, easy pay, good student, and defensive driving.
- Esurance offers premium reductions for multi-car, defensive driver, online quote, anti-lock brakes, good driver, online shopper, and good student.
- The Hartford discounts include bundle, good student, driver training, anti-theft, air bag, and vehicle fuel type.
The illustration below shows the comparison of insurance costs with and without discounts applied to the rates. The premiums assume a female driver, a clean driving record, no claims, Ohio state minimum liability limits, comp and collision included, and $250 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with good student, paperless filing, paid-in-full, passive restraint, anti-theft, and vehicle safety discounts applied. When discounts are applied, the average savings per year on insurance for young drivers is 28% or $530.
The Cleveland car insurance agencies listed below can probably provide answers to your questions and help you determine which coverages are best, since some people have coverage questions and would like to have some advice when buying car insurance for youthful drivers. It can be complicated to find the best policy yourself, so getting advice from a licensed Ohio insurance agent can give peace of mind knowing your policy gives you adequate protection in the event of a claim. To locate an agency close to where you live, click the button below the list.
- Insurance Cleveland Agency, LLC
5602 State Rd – Parma, OH 44134 – (800) 701-5909 - Allstate Insurance: Eslick Insurance and Financial Services
2775 S Moreland Blvd Ste 203 – Cleveland, OH 44120 – (216) 283-5570 - Lake Shore Insurance Agency
735 Beta Dr – Cleveland, OH 44143 – (440) 446-1600 - Coventry Insurance Agency
230 W Huron Rd – Cleveland, OH 44113 – (216) 307-3611
Find a Cleveland, OH insurance agent near you
How to find more affordable auto insurance for young drivers
It is possible to find better rates, and here are many thrifty ideas that can help drivers quote low-cost coverage.
- Improve your credit rating
- Drive attentively and avoid accidents
- Full coverage is expensive so only insure older vehicles for liability only
- Buying home and auto together can help save money
- Safer vehicles cost less to insure
- Compare rate quotes frequently
That last idea is especially critical, as we noted in this write-up. Auto insurance prices go up and down frequently, so drivers shouldn’t hesitate to buy from a new company if you can find a cheaper rate.
Having a favorite company is fine, but it’s not a great idea if that loyalty results in overpaying a lot of money. Take a few minutes and compare prices and find cheaper auto insurance for young drivers in Cleveland.