Best Cheap Car Insurance for a 20 Year Old Male in South Dakota

Buying cheap insurance is not easy, and figuring out which company offers the lowest-priced auto insurance rates for 20 year old guys will require more quotes for comparison. Premiums will be quite a bit more than the state average, with the extra cost attributed to the potentially higher risk that comes with offering coverage for young men, but reasonable coverage should be attainable if you compare enough companies. Every auto insurer has a unique formula to set premium rates, so first we will examine the overall cheapest auto insurance companies in South Dakota.

It’s a good idea to know that South Dakota auto insurance rates are determined by lots of factors that will increase or decrease the cost of your policy. Taking a driver safety course, getting divorced, or getting a speeding ticket can produce rate changes that can make some companies cheaper than before.

Best Insurance Companies for Men Age 20

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USAA offers some of the cheapest car insurance rates in South Dakota at around $650 per year. Auto-Owners, State Farm, Farmers Mutual of Nebraska, and Western National also qualify as some of the cheaper South Dakota insurance companies.

As shown above, if you currently have coverage with Farmers Mutual of Nebraska and switched to USAA, you might achieve yearly savings of about $346. Drivers with Western National may save as much as $386 a year, and Unitrin policyholders might realize rate reductions of up to $415 a year.

Bear in mind that those policy prices are averaged for all types of drivers and the different vehicles they drive and do not factor in a rate surcharge for 20 year old guys. So the insurer that fits your needs best may not even be featured in the rate chart shown above. That illustrates why you need to get auto insurance quotes using your own specific driver and vehicle information.

One of the many things that is looked at to determine the policy price is your address. Cities with larger populations or higher claims like Pine Ridge, Hot Springs, and Sturgis tend to have higher auto insurance costs, whereas areas with less traffic congestion and claims have the luxury of lower rates.

The following table ranks the highest-priced places in South Dakota for 20 year old guys to buy car insurance in.

Information shown are comparative as the garaging address in South Dakota can alter premium rates noticeably.

Everyone has different tastes in autos, and the style of vehicle you are buying coverage for is a significant factor that determines the availablility of the best cheap auto insurance for 20 year old guys in South Dakota. Vehicles with average performance, a plethora of safety features, or a low likelihood of having liability claims will cost quite a bit less to insure than high performance models.

The next lists estimates insurance costs for some of the most affordable automobiles to buy coverage for.

Price data assumes single male driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and South Dakota minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in specific zip code location which can change insurance rates substantially.

Table data represents single male driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and South Dakota minimum liability limits. Discounts applied include safe-driver, and claim-free. Price information does not factor in vehicle location which can alter insurance rates substantially.

Premium data assumes single male driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and South Dakota minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium amounts do not factor in specific location information which can lower or raise insurance rates greatly.

Full coverage or liability only

Finding the best cheap auto insurance for 20 year old guys in South Dakota should be important to the majority of drivers, and one of the fastest ways to reduce the cost of insurance is to not buy comprehensive and collision coverage. The example below illustrates the comparison of insurance costs with full coverage and liability only. The premiums assume no claims or driving citations, $500 deductibles, drivers are not married, and no additional discounts are factored in.

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If averaged for all ages, physical damage insurance costs $1,394 per year more than carrying just liability coverage. That may make you wonder if buying full coverage is a waste of money. There is no clear-cut formula of when to phase out physical damage coverage on your policy, but there is a broad guideline. If the annual cost of 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 say your vehicle’s replacement cost is $9,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled, you would only receive $8,500 after the deductible is paid. If you are paying more than $850 annually for physical damage coverage, then it could be time to drop full coverage.

There are a few situations where buying only liability insurance is not a good idea. If you still have a lienholder on your title, you are required to maintain full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should keep full coverage in place.

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

If you are looking for the best car insurance for young men in South Dakota, four good companies to start with are Progressive, Geico, State Farm, and Allstate. The next table points out some of the different options offered by each company.

How to find the cheapest car insurance for 20 year old guys

The list below summarizes some penny-pinching ideas that can help South Dakota drivers find cheap auto insurance.

• Lower rates by purchasing a safer vehicle
• Drop full coverage on older vehicles
• Just one traffic violation will increase your rates
• Don’t have frequent claims
• Save money by bundling your home and auto policies
• Do not get into accidents
• Compare quotes from other companies often

The last item on the list is certainly valuable, as was noted in this write-up. Insurance rates in South Dakota adjust frequently, so you should be ready to buy a policy from a new company if you find a better deal.

Brand loyalty is not necessarily bad, but is isn’t recommended if that dedication is costing big bucks every year. It only takes a couple minutes to compare rates and find cheaper insurance for 20 year old guys.