The words “bargain” and “insurance” really don’t belong together, especially when looking for the cheapest auto insurance for drivers under 25. In an attempt to save some money, let’s take a look at some things the can have a considerable influence on car insurance prices, and come up with some ways to cut the cost of your next policy.
The car, truck, or SUV you are trying to insure is probably the largest consideration when trying to find the cheapest car insurance for drivers under 25. Vehicles with high performance features, poor safety features, or a history of substantial liability claims will cost significantly more to insure than safer models.
The data below shows car insurance rates for a selection of the most affordable vehicles to insure.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 4WD | $2,181 |
| Honda CR-V EX-L 4WD | $2,215 |
| Volkswagen Jetta S 2.5 Station Wagon | $2,355 |
| Toyota Prius | $2,387 |
| Ford Explorer XLT 2WD | $2,448 |
| Honda Odyssey EX W/Rear Entertainment | $2,554 |
| Ford Focus SE 4-Dr Sedan | $2,564 |
| Ford Edge Limited 2WD | $2,554 |
| Toyota Tacoma 2WD | $2,562 |
| Toyota RAV4 Sport 4WD | $2,588 |
| Jeep Grand Cherokee Laredo 2WD | $2,596 |
| Chevrolet Malibu LS | $2,588 |
| Toyota Camry LE | $2,593 |
| Dodge Grand Caravan SXT | $2,619 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $2,694 |
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Premium data assumes single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, and safe-driver. Estimates do not factor in specific location which can increase or decrease price quotes noticeably.
Looking at the data, we can assume that vehicles like the Ford Escape, Honda CR-V, and Volkswagen Jetta are most likely to be a few of the cheapest vehicles to insure for drivers age 25 and younger. Auto insurance rates will trend higher just because there is a higher risk for drivers under 25, but overall those particular models will have the best rates compared to other vehicles.
Establishing which companies quote the best auto insurance rates for drivers under 25 may require a little more work in order to find the lowest price quote.
Every insurance provider uses a slightly different approach for determining prices, so to begin we’ll rank the most budget-friendly auto insurance companies in Greensboro, NC.
Best Insurance Companies for Young Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $639 |
| 2 | Utica National | $655 |
| 3 | Liberty Mutual | $700 |
| 4 | Penn National | $717 |
| 5 | GEICO | $728 |
| 6 | Titan | $729 |
| 7 | NC Farm Bureau | $730 |
| 8 | State Farm | $779 |
| 9 | Auto-Owners | $852 |
| 10 | Allied | $901 |
| 11 | Erie | $904 |
| 12 | National General | $917 |
| 13 | Travelers | $927 |
| 14 | Peerless | $972 |
| 15 | Encompass | $1,031 |
| 16 | Unitrin | $1,032 |
| 17 | Safeco | $1,034 |
| 18 | MetLife | $1,038 |
| 19 | Nationwide | $1,041 |
| 20 | Allstate | $1,064 |
| View More Rates Go | ||
Progressive offers some of the lowest car insurance rates in Greensboro at around $639 annually. Utica National, Liberty Mutual, Penn National, and GEICO are also some of the cheapest Greensboro, NC car insurance companies.
As shown above, if you have coverage with GEICO and switched to Utica National, you might see a yearly savings of roughly $73. North Carolina drivers with Titan could save as much as $74 a year, and NC Farm Bureau policyholders might lower prices by $75 a year.
To see if your current coverage is too expensive, click here to get a free quote or click through to the companies below.
Remember that these prices are averages for all types of insureds and vehicles and do not take into consideration a specific zip code for drivers under 25. So the car insurance company that has the cheapest rates for you may not even be in the top 20 companies shown above. That affirms the importance of why you need to compare rates from as many companies as possible using your own personal information and vehicle type.
The example below highlights how deductible choice can increase or decrease insurance costs when trying to find cheap insurance for drivers under 25. The prices are based on a married male driver, full coverage, and no policy discounts are applied.
In the chart above, a 40-year-old driver could save $234 a year by switching from a $100 deductible to a $500 deductible, or save $352 by choosing a $1,000 deductible. Young drivers, like the Age 20 category, have the ability to save up to $788 each year by choosing a higher deductible. When choosing a higher deductible, it will be necessary to have plenty of money set aside to be able to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Careless Greensboro drivers pay higher rates
A great way to find the best auto insurance rates in North Carolina for drivers age 25 and younger is to be a cautious driver and avoid traffic citations and accidents. The information below shows how traffic citations and at-fault fender-benders influence annual premium costs for different categories of driver ages. The price estimates are based on a single female driver, full physical damage coverage, $500 deductibles, and no policy discounts are applied.
The data in the chart shows the average cost of an auto insurance policy in Greensboro per year with a clean driving record and no accidents is $1,125. Add in one speeding ticket and the average cost swells to $1,275, an increase of $150 each year. Now add two accidents along with the one speeding ticket and the annual cost of auto insurance for drivers under 25 goes up to an average of $2,617. That’s an increase of $1,492, or $124 per month, just for not maintaining a clean driving record!
Chances are good that you’re overpaying for Greensboro car insurance
Greensboro auto insurance rates are calculated based on many things that may substantially change the cost of coverage. Improving your credit score, buying higher coverage limits, or getting a DUI can cause premium changes that can make some companies more affordable than competitors.
Additionally, insurers modify rates as often as every quarter in order to remain profitable. Significantly higher claims may result in higher priced premiums, while a profitable period may produce cheaper Greensboro car insurance rates.
To help illustrate this point, the bar chart below shows which company has the cheapest car insurance in Greensboro, NC for a 35-year-old male driver with no accidents or violations, and a good credit history. If we look at prices based on his current rating profile, Progressive has the lowest car insurance rates in Greensboro at $714 per year. This is $158 less than the average price paid by North Carolina drivers of $872. Utica National, Penn National, GEICO, and Liberty Mutual are the remainder of the best Greensboro, NC auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates some claims, bad credit, and a traffic citation. Since every car insurance company has a unique formula to determine rates, comparing insurance quotes may now present a substantially altered list of affordable companies as shown below.
NC Farm Bureau now has the cheapest rate in Greensboro with State Farm, Auto-Owners, National General, and Erie now rounding out the top five. This example shows why it is crucial to spend some time comparing rates to get the most economical auto insurance quotes for drivers under 25.
Rates are made up of many factors and can increase or decrease at any time, so the cheapest rate the last time you checked may now be quite expensive.