Who Has the Cheapest Auto Insurance for 18 Year Olds in Arkansas?

When writing about shopping for auto insurance, the words cheap or affordable really shouldn’t be used anywhere in the article to describe car insurance prices. Sad but true, cheap car insurance for 18 year olds is just plain contradictory. Don’t let that spoil your day, because we will tell you how you can find coverage that is affordable.

The vehicle model on the policy is probably the biggest factor when trying to find the cheapest car insurance for 18 year olds in Arkansas. Vehicles with more horsepower, poor passenger safety features, or a high likelihood of having liability claims will cost quite a bit more to insure than safer models.

The next table ranks insurance prices for some of the most economical vehicles to buy coverage for.

Data assumes single female driver age 18, no speeding tickets, no at-fault accidents, $500 deductibles, and Arkansas minimum liability limits. Discounts applied include claim-free, and safe-driver. Table data does not factor in vehicle garaging location which can revise premiums greatly.

Looking at the numbers, we can conclude that makes and models like the Honda CR-V, Honda Accord, Chevrolet Traverse, and Ford Escape are most likely going to be a few of the less-costly vehicles to insure for teen drivers. The price for car insurance will tend to be higher just due to the fact that there is more liability risk for 18 year olds, but in general those particular vehicles will probably have the best rates that you’ll find.

Deciphering which companies offer the best auto insurance rates for 18 year olds will involve a tad more effort than just picking a company at random.

Each insurer uses their own method for setting rates, so we need to take a look at the lowest cost auto insurance companies in Arkansas. It’s important to know that Arkansas auto insurance rates are impacted by many factors which can substantially change the price you pay for coverage. Turning one year older, buying a home, or getting a driving violation may generate price changes that can cause some rates to be cheaper than others.

Best Car Insurance Prices for Teens

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USAA quotes some of the most affordable car insurance rates in Arkansas at around $981 per year. Auto Club, Travelers, Southern Farm Bureau, and State Farm also qualify as some of the cheaper Arkansas insurance companies.

As shown above, if you currently have a policy with Southern Farm Bureau and switched to Auto Club, you could see a yearly savings of approxmiately $174. Policyholders with State Farm might save as much as $233 a year, and Columbia Insurance policyholders might cut rates by $283 a year.

Be aware that those estimates are averages for all insureds and vehicles and and are not figured with a rate increase for 18 year olds. So the insurer that is best for you may not even be included in the list of companies above. That helps illustrate why you need to get rate quotes using your own personal information and vehicle type.

Insuring your vehicle with the top insurance provider can be rather challenging considering how many different insurance companies sell coverage in Arkansas. The ranking information below may help you choose which auto insurance companies you want to consider when shopping your coverage around. The rankings below are only comprised of major nationwide insurance companies, so companies without a large exposure are not taken into consideration for the list.

Top 10 Major Auto Insurance Providers Overall in Arkansas

1. Travelers
2. USAA
3. AAA Insurance
4. Nationwide
5. Allstate
6. State Farm
7. The Hartford
8. Safeco Insurance
9. Progressive
10. American Family

Get discount Arkansas auto insurance

Insurers that provide the cheapest car insurance for 18 year olds in Arkansas may also provide discounts that can reduce rates by as much as 35% or more if you meet specific criteria. Larger auto insurance companies and some of the discounts are outlined below.

• GEICO may offer discounts for anti-lock brakes, defensive driver, driver training, air bags, multi-vehicle, and daytime running lights.
• Travelers may have discounts that include multi-policy, home ownership, early quote, save driver, and payment discounts.
• Nationwide has discounts for accident-free, anti-theft, good student, Farm Bureau membership, and family plan.
• Farmers Insurance offers premium reductions for business and professional, pay in full, teen driver, alternative fuel, bundle discounts, and switch companies.
• Esurance has savings for renters, online quote, Pac-12 alumni, homeowner, defensive driver, and online shopper.
• State Farm includes discounts for multiple autos, accident-free, anti-theft, driver’s education, multiple policy, and student away at school.
• Progressive policyholders can earn discounts including online quote discount, online signing, continuous coverage, good student, multi-vehicle, and multi-policy.
• Mercury Insurance discounts include multi-car, ease of repair, anti-theft, location of vehicle, and type of vehicle.

The illustration below visualizes the comparison of yearly insurance costs with and without discounts applied to the premium. The rates are based on a female driver, no claims or driving violations, Arkansas state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with vehicle safety, paid-in-full, continuous coverage, paperless filing, good student, and passive restraint discounts applied. When discounts are factored in, the the amount saved on auto insurance for 18 year olds is 28% or $514.

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State Farm, Allstate, Progressive, and Geico compared

When researching auto insurance for teen drivers in Arkansas, some of the first companies to look at are State Farm, Allstate, Progressive, and Geico. Each one has a distinct set of features and optional coverages that you can choose from. The next table ranks some of the different features .

Who has the cheapest insurance quotes for teen drivers?

Consumers have many ways to purchase auto insurance in Arkansas, but the most common ways are through an independent agent, an exlusive agent such as Liberty Mutual or Allstate, or direct online or over the phone from a company like Geico or Progressive. You can use whichever you prefer, but they differ slightly in how they give price quotes.

Independent insurance agencies write for multiple companies and can do rate comparisons with each one. These types of agencies are not locked into one company and can give you more rates, which can help you get more bang for your buck. If the agent locates a cheaper price, it’s easy for the agent to move the policy and you can keep the same agent.

An agent who is captive is only able to quote rates with one insurance company, a couple examples are Farmers Insurance or State Farm agents. This type of agents cannot provide a range of price quotes, so if rates are not competitive, they cannot shop around.

The last way is buying direct, which means you bypass an independent or exclusive agent and instead shop from a direct company like Esurance. Shopping direct may be a decent choice families who do not have a complex risk profile and have a good understanding of what specific coverages and deductibles they need.

Out of those three methods, which one works best for finding the cheapest car insurance for 18 year olds in Arkansas? Most people would assume that buying from a direct company saves the most money because you bypass the middleman, but unfortunately, it’s not that cut and dried. We could also assume that buying from an independent agent is the best way to save because they can quote many companies, but again, it’s not a sure thing. In the right set of circumstances, exclusive agents may have prices that are impossible to beat.

Since auto insurance companies use so many rating factors, the best way to find out which one is cheapest is to get quotes and compare. Experts recommend getting prices from all three to get an idea of which is cheapest. For a list of companies offering online discounts, click here to view.