The vehicle requiring insurance is probably the largest consideration that determines if you can find the cheapest coverage for 17 year olds. Vehicles with higher performance characteristics, poor crash test ratings, or a high likelihood of having liability claims will cost much more to insure than safer, lower-performance models. The list below shows car insurance rates for a selection of the more affordable vehicles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $3,239 |
| Ford Escape XLS 4WD | $3,249 |
| Honda Accord LX-P 4-Dr Sedan | $3,239 |
| Jeep Wrangler Sport 4WD 2-Dr | $3,399 |
| Toyota Prius | $3,507 |
| Toyota Tacoma 4WD | $3,634 |
| Dodge Grand Caravan CV | $3,642 |
| Chevrolet Equinox LT 2WD | $3,838 |
| Toyota RAV4 Limited 4WD | $3,848 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $3,870 |
| Ford Explorer Eddie Bauer AWD | $3,877 |
| Chevrolet Malibu LT | $3,870 |
| Ford F-150 FX4 4WD | $3,880 |
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Data rating is based on single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, and claim-free. Information does not factor in your specific Austin, TX location which can revise prices significantly.
Looking at the rates, we can assume that models like the Honda CR-V, Ford Escape, Honda Accord, and Jeep Wrangler are going to be a few of the most budget-friendly vehicles to insure for teen drivers. Rates will trend higher because there is more liability risk for 17 year olds, but overall those vehicles will tend to have the cheapest auto insurance rates that you’ll find.
For teen drivers, one of the largest things that help determine car insurance rates is where your residence is. Areas with more people or even just a higher incidence of claims will most likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower prices.
The information below lists the most expensive places in Texas for 17 year olds to buy an auto insurance policy in. Austin is ranked at #15 with the yearly price of $1,676 for coverage, which is approximately $140 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | McAllen | $1,936 |
| 2 | Dallas | $1,893 |
| 3 | Brownsville | $1,851 |
| 4 | Garland | $1,850 |
| 5 | Houston | $1,835 |
| 6 | Laredo | $1,833 |
| 7 | Mesquite | $1,807 |
| 8 | Pasadena | $1,794 |
| 9 | Amarillo | $1,786 |
| 10 | Irving | $1,772 |
| 11 | Grand Prairie | $1,740 |
| 12 | San Antonio | $1,739 |
| 13 | Beaumont | $1,720 |
| 14 | Lubbock | $1,682 |
| 15 | Austin | $1,676 |
| 16 | Arlington | $1,658 |
| 17 | Fort Worth | $1,653 |
| 18 | Carrollton | $1,647 |
| 19 | Corpus Christi | $1,636 |
| 20 | Plano | $1,624 |
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Annual rates are comparative as the vehicle garaging location can change insurance rates substantially.
Determining which companies quote the cheapest auto insurance rates for 17 year olds will involve a tad more effort in order to find the best price. Each auto insurer uses a little different formula to set their prices, so we will examine the most affordable auto insurance companies in Austin, TX.
Compare Cheap Insurance Quotes for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,052 |
| 2 | USAA | $1,117 |
| 3 | Texas Farm Bureau | $1,247 |
| 4 | Germania Mutual | $1,282 |
| 5 | California Casualty | $1,382 |
| 6 | Esurance | $1,421 |
| 7 | State Farm | $1,510 |
| 8 | Mercury | $1,521 |
| 9 | Safe Auto | $1,565 |
| 10 | Nationwide | $1,585 |
| 11 | Progressive | $1,647 |
| 12 | Allstate | $1,701 |
| 13 | Amica | $1,757 |
| 14 | Home State | $2,092 |
| 15 | GEICO | $2,093 |
| 16 | MetLife | $2,249 |
| 17 | Encompass | $2,301 |
| 18 | Unitrin | $2,333 |
| 19 | 21st Century | $2,421 |
| 20 | Titan | $2,594 |
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Travelers has some of the cheapest car insurance rates in Austin at around $1,052 per year. This is $852 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty would also be considered some of the best Austin, TX auto insurance companies.
As the example above demonstrates, if you currently have a policy with California Casualty and switched to USAA, you might achieve annual savings of about $265. Texas drivers with Esurance might save as much as $304 a year, and State Farm policyholders might lower prices by up to $393 a year.
To find cheaper insurance rates for your vehicle, click here to start your custom quote or click through to the companies below.
Remember that these estimates are averages for all types of insureds and vehicles and and are not figured with an exact location for 17 year olds. So the car insurance company that can offer you the lowest price may not even be in the top 23 companies in the list above. That helps illustrate why you need to get rate quotes using your own driver and vehicle profiles.
Tickets and at-fault accidents raise rates
The obvious way to snag the cheapest auto insurance prices in Texas for teen drivers is to be a good driver and avoid accidents and keep your driving record clean. The example below highlights how speeding tickets and fender-benders increase insurance rates for different categories of driver ages. The rates are based on a married male driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.
In the example above, the average cost of an auto insurance policy in Texas per year with no accidents or violations is $1,358. Add in two speeding tickets and the average cost hikes up to $1,864, an increase of $506 each year. Then add two accidents along with the two speeding tickets and the yearly cost of auto insurance for 17 year olds increases to an average of $3,976. That’s an increase of $2,618, or $218 per month, just for not driving carefully!
Should you buy full coverage?
Saving money when shopping for auto insurance is the goal of the majority of vehicle owners, and one good way to pay less for insurance for 17 year olds is to not pay for full coverage. The information below visualizes the comparison of annual premium costs when comparing full coverage to liability only. The rates are based on no claims, a clean driving record, $100 deductibles, single status, and no policy discounts are applied.
On average, comp and collision coverage costs an additional $2,974 per year over liability only. That is a large expense which might make you wonder if buying full coverage is worth the expense. There is no set guideline to stop buying full coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is about 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s say your vehicle’s settlement value is $11,500 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $10,500 after the policy deductible has been paid. If you are paying over $1,050 annually for full coverage, the it may be a good time to stop paying for full coverage.
Here’s why price comparisons are so important
Austin auto insurance rates are based on many factors that control the cost of a policy. Simply having another birthday, buying a home instead of renting, or getting a reckless driving citation may prompt premium changes that can now make some companies affordable when they were higher priced.
Also, auto insurance companies change prices every year or even multiple times each year in order to offset underwriting gains or losses. Heavy losses can result in additional price hikes, while a lower level of claims can produce cheaper Austin car insurance rates.
To help illustrate this point, the graph below shows which company has the cheapest car insurance in Austin, TX for a 45-year-old male driver with a clear driving record, no claims, and good credit. Based on his personal profile, Travelers might quote the best car insurance rates in Austin at $1,085 annually. This is $819 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are the remaining most affordable Austin, TX auto insurance companies.
Let’s now give the driver from the first set of rates a couple of claims, poor credit, and a few blemishes on his driving record. Since every car insurance company has their own unique process for determining prices, analyzing rates will most likely result in a new list of the cheapest Austin car insurance companies as shown below.
Mercury now has the cheapest auto insurance in Austin with State Farm, USAA, Nationwide, and Safe Auto completing the list. This example proves why Austin drivers need to spend some time comparing rates to find affordable insurance rates for 17 year olds. Prices are made up of many risk factors and change frequently, so the most economical company the last time you compared rates may now be wasting a lot of money.
How to find cheaper insurance for 17 year olds
Below you’ll find some of the recommended money-saving ideas that can help you buy more affordable coverage.
- Raise your physical damage coverage deductibles
- Having at-fault accidents will increase rates
- Save money by only buying liability coverage for older vehicles
- Pay cheaper rates with good credit scores
- Drive vehicles with five-star safety ratings
- Keep your driving record clean
- Shop around for cheaper prices often
That last piece of advice is remarkably critical, as we emphasized in the prior information. Insurance prices adjust frequently, so drivers shouldn’t be reluctant to change insurance companies if a more affordable rate is found. Staying with the same company for years is fine, but it’s not a great idea if that loyalty results in overpaying a small fortune year after year. Take a couple minutes and compare rates and find cheaper auto insurance for 17 year olds in Austin.