Best Cheap Auto Insurance for Young Drivers in West Virginia

Finding out which companies quote the best insurance rates for young drivers requires a little more sweat than just comparing a company or two. Every insurance provider used slightly different criteria for establishing rates, so we will examine the insurance companies with the overall cheapest rates in West Virginia.

We do need to point out that West Virginia insurance rates are impacted by many things which can significantly increase or decrease the cost of a policy. Getting older, having a teen driver, or having an at-fault accident can trigger price changes that can cause some rates to be cheaper than others.

Best Car Insurance Prices for Teens

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Erie has some of the cheapest car insurance rates in West Virginia at around $913 each year. The Hartford, State Auto, USAA, and Westfield also make the cut as some of the best West Virginia insurance companies.

As depicted above, if you are insured with The Hartford and switched to Erie, you could earn annual savings of approxmiately $105. Insureds with State Auto could save as much as $316 a year, and USAA insureds might lower prices by up to $374 a year.

Remember that these premium estimates are averaged across all drivers and vehicles in West Virginia and do not take into consideration a rate surcharge for young drivers. So the car insurance company that has the lowest price for you may not even be in the list of companies shown earlier. That point stresses why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.

One of the more important criteria that affect car insurance rates is where your car is garaged in West Virginia. Areas with more people or more claims like Elkins, Bluefield, and Dunbar are more likely to have higher rates, whereas areas with less traffic congestion and claims have the benefit of cheaper auto insurance prices.

The next table sorts the highest-priced areas in West Virginia for young drivers to buy car insurance in.

Rate quotes are estimated as specific location information can change coverage prices significantly.

Full coverage rates compared to liability-only

Finding the best cheap auto insurance for young drivers in West Virginia is important to most drivers, and one of the easiest ways to find cheaper insurance is to buy only liability coverage. The information below shows the difference between insurance prices with liability coverage only compared to full coverage. The premiums assume no claims or driving violations, $100 deductibles, drivers are not married, and no discounts are taken into consideration.

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If the expense is averaged for all age categories, comprehensive and collision coverage on your policy costs an extra $2,818 per year over having just liability coverage. That brings up the question when is it safe to stop buying full coverage. There isn’t a written rule for excluding comp and collision coverage, but there is a guideline you can consider. If the annual cost of having full coverage is more than about 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.

For example, let’s pretend your vehicle’s settlement value is $8,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $7,500 after paying the physical damage deductible. If it’s costing in excess of $750 a year for full coverage, then you might want to consider buying only liability coverage.

There are some cases where eliminating full coverage is not in your best interest. If you have an outstanding loan on your vehicle, you are required to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

The chart below illustrates how your deductible choice can impact insurance rates when getting quotes for cheap insurance for young drivers. The data is based on a single female driver, comp and collision included, and no additional discounts are factored in.

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The chart above illustrates that a 30-year-old driver could lower rates by $334 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $504 by changing to a $1,000 deductible. Young drivers, like the 20-year-old category, could drop their prices up to $736 or more just by using higher deductibles. If you make the decision to raise deductibles, it will be required to have spare funds to satisfy the extra out-of-pocket expense, which is the main drawback of higher deductibles.

Does Allstate, Progressive, Geico, or State Farm have the cheapest car insurance?

If you are looking for the best car insurance for youthful drivers, some of the first companies to look at are Allstate, Progressive, Geico, and State Farm. The table below compares and contrasts pricing and service ratings, plus some optional coverages shoppers can find with each company.