The words “bargain” and “insurance” really should not be used together, in particular when shopping around for the best price on coverage for teenage males. Because of the high cost, let’s lead off by showing you some of the things that help determine insurance premiums, and come up with some ways to lower the cost of your next policy.
For teen boys, one of the more important criteria that determine insurance cost is your zip code in Seattle. Areas with more people or higher crime rates tend to have more expensive auto insurance rates, whereas areas with lower crime rates and fewer weather claims benefit from having to pay less for coverage.
The table below ranks the highest-priced places in Washington for teenage males to buy an auto insurance policy in. Seattle shows up at #6 with a yearly premium of $1,363 for coverage, which is around $114 per month.
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Price information shown is estimated as the garaging address in Seattle can impact coverage prices substantially.
The vehicle model requiring insurance is one of the main factors when looking for the most affordable auto insurance for teenage males. Vehicles with higher performance characteristics, poor crash test ratings, or a high likelihood of having liability claims will cost more to insure than more modest models.
The table below showcases insurance rates for a number of the cheapest vehicles to insure in Washington.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda Accord LX 4-Dr Sedan||$6,913|
|Ford Escape XLS 4WD||$6,918|
|Honda CR-V LX 4WD||$6,913|
|Jeep Wrangler Sport 4WD 2-Dr||$7,287|
|Chevrolet Silverado LS Regular Cab 4WD||$7,710|
|Ford Explorer Eddie Bauer 2WD||$7,774|
|Ford Focus S 4-Dr Sedan||$8,135|
|Ford Edge SE AWD||$8,141|
|Dodge Grand Caravan Hero||$8,200|
|Chevrolet Malibu Hybrid||$8,207|
|Chevrolet Equinox LT AWD||$8,200|
|Toyota RAV4 Limited 2WD||$8,207|
|Ford F-150 Lariat Super Cab 2WD||$8,264|
|Toyota Tacoma Double Cab 4WD||$8,269|
|Dodge Ram Quad Cab ST 2WD||$8,464|
|Honda Odyssey EX-L W/Navigation||$8,622|
|Chevrolet Impala LTZ||$8,628|
|Hyundai Elantra SE 4-Dr Sedan||$8,622|
|Toyota Camry SE||$8,629|
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Above prices assume single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Washington minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in vehicle location which can change insurance rates substantially.
Looking at the rates, you can expect makes and models like the Honda Accord, Ford Escape, and Honda CR-V will definitely be the less-costly vehicles to insure for teen boys. Prices will trend higher just because there is more claim exposure for teenage males, but in general those particular models will have the cheapest car insurance rates compared to other types of vehicles.
Poor driving habits will raise your insurance rates
The obvious way to find the most affordable insurance prices in Seattle for teen boys is to drive carefully and have a clean driving record. The chart below illustrates how speeding tickets and fender-benders can impact insurance costs for different age groups. The data assumes a single female driver, full coverage, $250 deductibles, and no discounts are applied to the premium.
In the previous chart, the average cost of car insurance in Seattle per year with a clean driving record and no accidents is $1,476. Get two speeding tickets and the average cost surges to $1,977, an increase of $502 each year. Now add in two accidents along with the two speeding tickets and the 12-month cost of insurance for teenage males jumps again to an average of $3,828. That’s an increase of $2,352, or $196 per month, just for not driving carefully!
The example below demonstrates how deductibles can impact insurance costs when getting quotes for cheap insurance for teenage males. The data is based on a married female driver, full coverage, and no discounts are factored in.
A 40-year-old driver could save $200 a year by switching from a $100 deductible to a $500 deductible, or save $304 by choosing a $1,000 deductible. Even younger drivers, such as the 20-year-old chart data, can save as much as $498 each year by using a higher deductible.
When choosing a higher deductible, it is essential to have plenty of savings on hand to allow you to pay the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Full coverage versus liability only rates
Finding the cheapest insurance is probably important to most vehicle owners, and an easy way to reduce the cost of insurance for teenage males is to only buy liability coverage. The chart below visualizes the comparison of premium costs with and without full coverage. The costs are based on a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no other discounts are factored in.
As an overall average, physical damage coverage on your policy costs $1,394 per year more than just insuring for liability. That amount may make you wonder when is it safe to stop buying full coverage. There is no definitive rule for excluding physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is 10% or more of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
There are some conditions where eliminating full coverage is not in your best interest. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
Don’t make the mistake of not shopping around
Washington insurance rates are calculated based on many things that may substantially change the price you pay for coverage. Simply getting older, having a teenage driver, or getting a few speeding tickets can cause premium changes resulting in some companies being more affordable than others.
In addition to those changes, auto insurance companies change premium rates as often as every quarter to adjust for heavy claims or excess profits. Higher than normal claims may cause higher priced premiums, while profitable underwriting can cause lower-priced Seattle car insurance rates.
To illustrate this example, the graph below shows a variety of companies that have the cheapest car insurance in Seattle, WA for a 30-year-old female driver with no violations or accidents, and excellent credit. When comparing rates based on her current rating profile, Capital might quote the most affordable car insurance rates in Seattle at $1,104 each year. This is $308 less than the average price paid by Washington drivers of $1,412. Grange, Nationwide, PEMCO, and Travelers are also included in the cheapest Seattle, WA auto insurance companies.
The next chart shows rates after we give the driver from the above example an accident surcharge, a lower credit rating, and a speeding ticket. Because each company has a different process for setting rates, comparing prices may now show a different set of the cheapest companies as shown below.
The Hartford now has the cheapest auto insurance in Seattle with USAA, California Casualty, Chubb, and Allied also having competitive pricing. This example demonstrates why it is so important to do a thorough rate comparison to find the most economical auto insurance quotes for teenage males. Insurance prices can be altered by many different factors and can increase or decrease at any time, so the cheapest option the last time you shopped around may now be quite expensive.
If you prefer to have professional advice when buying car insurance for teen boys, the agencies below are willing to help you make a decision which policy fits your needs best. To locate an agency closest to you, click the button at the bottom.
Jeffrey Taylor – State Farm Insurance Agent
4850 Rainier Ave S – Seattle, WA 98118 – (206) 725-8008
2414 SW Andover St – Seattle, WA 98106 – (206) 937-4613
State Farm: Karrie Dubose
1530 Westlake Ave N Suite 100 – Seattle, WA 98109 – (206) 971-5400