Cheapest Auto Insurance for Teenage Males in South Dakota

You have surely seen all the ads from companies like State Farm, Progressive, and Allstate that make claims of the cheapest price, so drivers should just choose the one with the best commercial, right?

Unfortunately, it’s just not that easy, as there are many unknown aspects like the amount of liability coverage you need, the amount of physical damage deductibles, and the likelihood of vehicle theft where you live, that all impact the price you pay. In this article, we will cover the types of things that cause high car insurance rates and will hopefully give the reader a good start in finding the cheapest insurance.

Finding good, budget car insurance is not the easiest thing to do, and figuring out which companies have the best car insurance rates for teenage males will take additional perseverance. Policy prices will more than likely be significantly more expensive than the average policy in South Dakota because of the potential for higher claims that comes with selling insurance for teen boys, but competitive insurance should be achievable if you carefully shop around. Each insurer has their own guidelines for filing rates in each state, so let’s begin by taking a look at the car insurance companies that tend to have lower prices in South Dakota.

It’s important to understand that South Dakota car insurance rates are based on many factors which can significantly increase or decrease the price you pay for coverage. Improving your credit score, buying a different home, or getting a ticket for careless driving can trigger price changes that may make certain companies cheaper than competitors.

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USAA generally has some of the cheapest car insurance rates in South Dakota at around $631 annually. Auto-Owners, State Farm, Unitrin, and Western National also qualify as some of the most economical South Dakota car insurance companies.

As depicted above, if you are currently insured with Unitrin and switched to USAA, you might realize an annual premium reduction of about $402. Insureds with Western National could save as much as $405 a year, and Farmers Mutual of Nebraska insureds might see rate reductions of $405 a year.

Bear in mind that those policy prices are averaged for all drivers and vehicles in South Dakota and do not factor in a price increase for teenage males. So the auto insurance company that has the lowest price for you may not even be featured in the above rate chart. That points out the importance of why you need to compare prices as often as possible using your own driver and vehicle profiles.

When buying insurance for teen boys, one of the key components that insurance companies use when figuring the price you pay for insurance is where you keep your car in South Dakota. Areas with more people or even just a higher incidence of claims like Pine Ridge, Lead, and Belle Fourche tend to have higher rates, whereas areas with less traffic congestion and claims profit from lower rates.

The next table lists the most expensive cities in South Dakota for teenage males to buy auto insurance in.

Rate quotes are estimated as specific location information can influence prices noticeably.

Do you need full coverage?

Finding the cheapest car insurance for teenage males in South Dakota should be important to most drivers, and one great way to reduce the cost of insurance is to not buy full coverage. The information below illustrates the comparison of car insurance costs with full coverage and liability only. The premiums assume no violations or claims, $1,000 deductibles, marital status is single, and no policy discounts are applied.

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As an average for all age groups, physical damage insurance costs $1,242 per year more than buying just liability insurance. That is a large expense and it proposes the question if you should buy full coverage. There is no definitive guideline of when to phase out comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost minus the deductible, then it could be time to drop full coverage.

For example, let’s say your vehicle’s settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $8,000 after paying your deductible. If it’s costing you more than $800 annually for your policy with full coverage, then it might be time to buy liability only.

The illustration below highlights how deductible selection can increase or decrease insurance prices when trying to find cheap insurance for teenage males. The rate quotes are based on a married male driver, comp and collision included, and no discounts are taken into consideration.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 2501,2287,2045,1819],[‘Age 30’, 1321,1207,1073,945],[‘Age 40’, 1267,1161,1039,923],[‘Age 50’, 1157,1063,953,845],[‘Age 60’, 1137,1043,937,831],[‘Age 70’, 1305,1201,1087,979]]);var options = {title: ‘Impact of Deductible Levels on Insurance Cost in South Dakota’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},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 50-year-old driver could lower their policy premium by $204 a year by increasing from a $100 deductible to a $500 deductible, or save $312 by switching to a $1,000 deductible. Youthful drivers, such as the Age 20 example, could potentially save up to $682 each year just by using higher deductibles.

When using a larger deductible, it will be important to have enough in a savings account to allow you to cover the extra out-of-pocket expense. That is the one drawback of using higher deductibles.

Which auto insurance company is best?

When researching car insurance, four good companies to start with are Progressive, Allstate, State Farm, and Geico. All four can cover your vehicle for liability and physical damage, but each one has different optional coverages and features that may influence your buying decision. The following table illustrates pricing and service ratings, as well as optional policy coverages shoppers can find with each company.