Wouldn’t it be perfect if you could just magically know the exact company that has the best auto insurance prices for high school students? Regrettably, it’s not quite that easy, as there are a whole bunch of unknown aspects such as how high your deductibles should be, if you are a good driver, and if you want full coverage, that all factor into the price you pay. Car insurance is kind of a dry topic, but this article will explain some of these factors and also should give you a good start in finding the cheapest car insurance.
Determining which companies have the most affordable insurance rates for high school students requires a bit more work than just picking a company at random. Every auto insurer has a different process to determine rates, so let’s look at the rankings for the lowest cost insurance companies in Ohio.
We do need to point out that Cleveland insurance rates are influenced by many factors that control the price you have to pay. Simply having another birthday, getting married, or getting a speeding ticket may generate price changes that can cause some rates to be more affordable than competitors.
Cheapest Insurance Rates for Students
Utica National generally has some of the best car insurance rates in Cleveland at around $635 per year. This is $405 less than the average rate paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers also qualify as some of the lowest-priced Cleveland, OH insurance companies.
In the above example, if you have coverage with Erie and switched to Utica National, you might realize a yearly savings of upwards of $26. Insureds with Allied might save as much as $41 a year, and Frankenmuth policyholders might cut rates by $52 a year.
Bear in mind that those estimates are averaged for all drivers and vehicles and do not take into consideration a vehicle location for high school students. So the car insurance company that has the cheapest price for you may not even be in the top 33 companies in the list above. That point stresses why you need to get car insurance quotes using your own personal information and vehicle type.
The type of vehicle requiring coverage is probably the most important factor that determines whether or not you can buy low-priced car insurance for high school students. Vehicles with lots of horsepower, a lack of safety features, or a track record of large liability claims will cost much more to insure than more modest models. The list below ranks coverage prices for a handful of the cheapest automobiles to buy coverage for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLT 4WD||$4,929|
|Honda CR-V EX-L 2WD||$4,939|
|Honda Accord EX-L 4-Dr Sedan||$5,237|
|Ford Edge SE 2WD||$5,432|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$5,438|
|Ford Explorer XLT 2WD||$5,482|
|Ford Focus SE 4-Dr Sedan||$5,740|
|Chevrolet Impala LS||$5,746|
|Honda Odyssey EX||$5,740|
|Nissan Altima 2.5 4-Dr Sedan||$5,790|
|Dodge Grand Caravan Hero||$5,798|
|Chevrolet Equinox LT AWD||$5,790|
|Find Cheaper Rates Go|
Data rating is based on single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, and safe-driver. Information does not factor in Cleveland, OH location which can raise or lower coverage rates considerably.
Based upon the rates shown, cars like the Ford Escape, Honda CR-V, Honda Accord, and Toyota Prius are going to be the more affordable vehicles to insure for teenagers. Rates will tend to be more expensive anyway because there is more risk for high school students, but generally speaking those vehicles will probably have the lowest insurance prices available.
Irresponsible driving raises your rates
In a perfect world, the ideal way to maintain the best insurance prices for teenagers is to drive carefully and avoid at-fault accidents and violations. The example below shows how violations and at-fault fender-benders can influence auto insurance costs for each age group. The rate quotes are based on a married female driver, full coverage, $1,000 deductibles, and no discounts are applied.
In the example above, the average cost of an auto insurance policy in Cleveland per year with no accidents and a clean driving record is $741. Get one speeding ticket and the average cost swells to $862, an increase of $121 each year. Now add one accident along with the one speeding ticket and the 12-month cost of insurance for high school students increases to an average of $1,201. That’s an increase of $460, or $38 per month, just for being a less-than-perfect driver!
The chart below illustrates how your choice of deductibles can impact insurance costs when quoting cheap insurance for high school students. The premiums are based on a married female driver, comprehensive and collision coverage, and no policy discounts are applied.
The chart above illustrates that a 50-year-old driver could reduce rates by $156 a year by changing from a $100 deductible up to a $500 deductible, or save $234 by choosing a $1,000 deductible. Even younger drivers, like the Age 20 category, have the ability to save $384 or even more just by using higher deductibles.
If you make the decision to raise deductibles, it is essential to have enough in a savings account to offset the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Types of discounts on Cleveland auto insurance rates
Insurance companies that offer cheap quotes for high school students may also offer rate discounts that could potentially reduce rates by 40% or more if you are eligible. A list of companies and a summarized list of policyholder discounts are included below.
- Progressive may offer discounts for continuous coverage, homeowner, online signing, good student, online quote discount, and multi-policy.
- The Hartford discounts include good student, vehicle fuel type, defensive driver, anti-theft, air bag, and driver training.
- Mercury Insurance offers premium reductions for age of vehicle, annual mileage, good student, low natural disaster claims, type of vehicle, and professional/association.
- GEICO policyholders can earn discounts including five-year accident-free, defensive driver, multi-vehicle, seat belt use, and air bags.
- AAA has savings for anti-theft, good student, good driver, education and occupation, and pay-in-full.
- State Farm may have discounts that include driver’s education, Drive Safe & Save, safe vehicle, passive restraint, Steer Clear safe driver discount, multiple policy, and multiple autos.
The diagram below visualizes the comparison of insurance rates with and without discounts applied to the policy rates. The premiums are based on a female driver, no accidents, no driving violations, Ohio state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with paperless filing, good student, anti-theft, vehicle safety, paid-in-full, and passive restraint discounts applied. When discounts are applied, the average savings per year on insurance for high school students is 28% or $577.
If you have coverage questions and would like to get help from a professional when comparing insurance rates for teenagers, the insurance agencies below can probably help you make a decision which car insurance policy is best.
To find a Cleveland insurance agency using an interactive map, click the button following the list or click here to compare rates now.
- Evarts Tremaine
1111 Superior Ave #420 – Cleveland, OH 44113 – (216) 621-7183
- Allstate Insurance: Teresa C. Paez
15105 Puritas Ave – Cleveland, OH 44135 – (216) 362-6526
- Cisar Insurance
30405 Solon Rd – Cleveland, OH 44139 – (440) 248-4450