How Much Does Auto Insurance Cost for Teenage Males in New York?

Deciding which company has the lowest-priced car insurance rates for teenage males will require a little more work than just comparing rates from one or two companies.

Every car insurance company uses a slightly different approach to establish rates, so let’s look at the rankings for the car insurance companies that tend to have lower prices in New York. It’s a good idea to be aware that New York car insurance rates are based on many factors that can increase the policy price. Simply having a birthday, buying a new vehicle, or getting a ticket for careless driving may cause policy rate changes that may make certain companies cheaper than others.

Find Cheaper Car Insurance for Teens

Compare Rates Now

USAA quotes some of the lowest car insurance rates in New York at around $1,199 a year. Erie, Utica National, Travelers, and Progressive also qualify as some of the most economical New York auto insurance companies.

As the example above demonstrates, if you are insured with Utica National and switched to USAA, you could earn an annual savings of around $290. Drivers with Travelers may save as much as $314 a year, and Progressive policyholders might lower prices by $359 a year.

To compare your rates to other New York insurance companies, click here to get a free quote or visit any of the companies below.

Bear in mind that those prices are averaged across all types of insureds and vehicles and do not take into consideration a price surcharge for teenage males. So the insurer that fits your age and vehicle best may not even be included in the above list. That illustrates why you need to get auto insurance quotes using your own specific driver and vehicle information.

For teen boys, one of the largest things that is looked at to help calculate auto insurance rates is where you keep your car in New York. Areas with more people or even just a higher incidence of claims like New York, Hempstead, and Mount Vernon tend to have more expensive auto insurance rates, whereas cities that are not as densely populated benefit from lower coverage costs.

The following table ranks the highest-priced places in New York for teenage males in which to buy car insurance.

Premium costs are estimated as specific New York zip code can revise premiums significantly.

The make and model of vehicle that is being insured is probably the biggest factor when consumers are trying to find the most affordable car insurance for teenage males. Vehicles with limited top-end speed, modern passenger safety features, or a track record of few liability claims will cost much less to insure than fast, unsafe models. The table below presents auto insurance prices for a number of the most economical automobiles to buy insurance for.

Data rating is based on single male driver age 16, 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 New York location which can influence prices significantly.

Looking at the rates, models like the Ford Escape, Honda CR-V, Chevrolet Traverse, and Hyundai Elantra are likely to be a few of the most affordable vehicles to insure for teen boys. The price for car insurance will tend to be more expensive anyway just because there is more liability risk for teenage males, but generally speaking those specific models will probably have the cheapest car insurance rates possible.

Do you need full coverage?

Finding cheap car insurance for teenage males in New York is important to the majority of drivers, and an effective way to find cheaper insurance is to only pay for liability coverage. The diagram below shows the difference between auto insurance rates when comparing full coverage to liability only. The data is based on no violations or accidents, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 1889,807],[‘Age 30’, 1003,447],[‘Age 40’, 973,415],[‘Age 50’, 895,389],[‘Age 60’, 869,383],[‘Age 70’, 1077,509]]);var options = {title: ‘Comparison of Rates for Full Coverage and Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in New York’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If we average the cost for all age groups, physical damage coverage costs $1,118 per year over and above liability only. That is a large expense and it proposes the question if buying full coverage is a waste of money. There is no clear-cut formula that works best for making the decision to drop full coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost minus the deductible, then it might be time to buy liability only.

For example, let’s pretend your vehicle’s settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $4,000 after the deductible is paid. If you are currently paying more than $400 annually to have full coverage, then you may need to consider dropping full coverage.

There are a few cases where removing full coverage is not recommended. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.

The information below shows how different deductible levels can affect insurance prices when getting quotes for cheap insurance for teenage males. The costs are based on a single female driver, comprehensive and collision coverage, and no discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 2123,1953,1765,1591],[‘Age 30’, 1477,1353,1211,1077],[‘Age 40’, 1371,1257,1129,1007],[‘Age 50’, 1199,1103,989,881],[‘Age 60’, 1157,1065,957,853],[‘Age 70’, 1345,1237,1119,1007]]);var options = {title: ‘Deductibles and Auto Insurance Prices in New York’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

As shown above, a 30-year-old driver could reduce rates by $242 a year by changing from a $100 deductible to a $500 deductible, or save $364 by selecting a $1,000 deductible. Even younger drivers, like the Age 20 category, could lower their rates up to $532 each year by using higher deductibles when buying full coverage. If you do make the decision to raise your deductibles, it is essential to have plenty of money set aside to be able to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.

Who has the cheapest insurance quotes for teen boys?

Drivers have many ways to purchase car insurance in New York, but the most common are through a captive (or exclusive) agent like State Farm or Auto-Owners, an independent insurance agent, or direct from companies such as Geico or Progressive. They all follow the same basic process, but each is different in how they function.

Independent insurance agents can place your business with multiple companies and can do rate comparisons with every one. They are not employed by only one company and can compare multiple rates, which may provide you with improved chances of finding a lower rate. If your premiums go up, the agent simply finds a different carrier which requires no work on your part.

A captive, or exclusive, agent is only able to give prices for one company, two examples are an Allstate or State Farm agent. Exclusive agents cannot provide rate quotes from other companies, so you need to shop around if the rates are high.

When you buy car insurance direct, you forego an exlusive or independent agent and instead shop direct from companies such as Geico or Progressive. Shopping direct may be good for people who do not need high amounts of coverage and have a decent understanding of the limitations of car insurance.

What is the best way to find cheap car insurance for teenage males in New York? The majority of people assume that shopping direct yields the cheapest rates since it doesn’t require paying agent commissions, but that does not always hold true. It would also be easy to say an independent agent guarantees the lowest rates since they can quote with many companies, but that is not accurate either. In many circumstances, exclusive agents may have prices that are well below what direct and independents offer.

Since car insurance rates vary so much, the only true way to ensure you are not overpaying is to compare, compare, and compare some more. Be sure to get price quotes from all three to have the best rate selection. For a list of companies with online discounts, click here to view.