Cheapest Car Insurance for a 20 Year Old Male in New York

When shopping for the cheapest car insurance for young men, one of the many considerations that is used to help calculate rate quotes is where your home is located in New York. Regions with more people or even just more weather-related claims like New York, Freeport, and Yonkers tend to have more expensive auto insurance rates, whereas areas with lower vehicle theft rates and fewer weather claims have the gratification of the cheapest car insurance for 20 year old guys in New York.

The illustration below illustrates the highest-priced areas in New York for 20 year old guys to buy an auto insurance policy in.

Premium costs are comparative as vehicle location can modify prices significantly.

The type of vehicle driven is one of the primary factors that determines whether or not you find the cheapest car insurance for 20 year old guys in New York. Vehicles with high performance, a lack of modern safety features, or high incidents of liability claims will cost more to insure than more economical and safe models.

The next table presents insurance rates for a handful of the most affordable vehicles to buy coverage for.

Table data assumes single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, and claim-free. Price estimates do not factor in specific zip code location which can alter rates greatly.

Looking at the rates, you can expect models like the Honda CR-V, Ford Escape, Ford Edge, and Chevrolet Traverse are going to be a few of the less-costly vehicles to insure for young men. The price for car insurance will tend to be higher just due to the fact that there is more liability exposure for 20 year old guys, but overall those vehicles will probably have the best rates compared to other vehicles.

The information below demonstrates how deductible levels can change insurance rates when trying to find cheap insurance for 20 year old guys. The premium estimates are based on a single female driver, comprehensive and collision coverage, and no discounts are factored in.

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The data above shows that a 50-year-old driver could save $284 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $428 by switching to a $1,000 deductible. Younger drivers, like the 20-year-old, could possibly save up to $730 or even more just by using higher deductibles.

When using a larger deductible, it will be necessary to have enough savings to enable you to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.

Discounts on New York insurance rates

Insurance companies that offer the cheapest car insurance for 20 year old guys in New York may provide premium discounts that could potentially reduce rates by 25% or more if you can meet the requirements. A few popular companies and a summarized list of policyholder discounts can be read below.

The information below shows the comparison of car insurance rates with and without discounts applied to the rates. The price estimates are based on a female driver, a clean driving record, no at-fault accidents, New York state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with continuous coverage, paid-in-full, vehicle safety, passive restraint, good student, and anti-theft discounts applied. When taking advantage of discounts, the average amount saved each year on insurance for 20 year old guys is 14% or $336.

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Geico, State Farm, Allstate, and Progressive: Who is best?

When shopping for auto insurance, some of the largest companies to start with are Geico, State Farm, Allstate, and Progressive. When added together, they make up 48.5% of all car insurance policies written. All of them offer physical damage and liability coverage, but each has slightly different coverage options that drivers can select from. The table below points out price and claims rank as well as some different options that you can purchase from each one.

Cheapest insurance quotes for young men

Drivers have a lot of ways to quote and buy insurance in New York, but the most common methods are through a non-exclusive or independent agent, a captive (or exclusive) agency such as Allstate or State Farm, or direct online or over the phone from a company like Progressive or Geico. Each way is similar, but it’s important to point out the distinctions in how they give price quotes.

Independent insurance agents work with multiple companies and can compare coverage rates with all of them. Agents of this type have the freedom to provide you with more rates, which can give you the best chance of finding a lower price. If they find a cheaper price, it’s easy for the agent to move the policy and you don’t have to do anything.

A captive or exclusive agent is only able to quote rates with one insurance company, examples being State Farm and Auto-Owners agents. Exclusive agents cannot provide a range of price quotes, so if finding the cheapest coverage is your goal, you will need to shop around.

If you buy direct, you forego local insurance agents and instead shop from a direct company like Progressive or Esurance. This insurance option can be good for consumers who have fewer assets and understand the limitations of their policy.

What is the best way to buy the cheapest car insurance for 20 year old guys in New York? The majority of people assume that buying from a direct company saves money since there is no middleman, but unfortunately, that is not the case. And we’d like to say buying insurance from an independent agent is the best way to save because they can shop around, but that assumption is not true either. And often times, the exclusive agents have extremely competitive rates that other insurance companies cannot touch.

Because there are so many factors that make up insurance rates, the best way to ensure you are not overpaying is to compare, compare, and compare some more. If you have the time, get price quotes all three ways in order to find the best price. For a list of companies offering online discounts, click here to view.