For teen drivers, one of the big considerations that help determine car insurance rates is your zip code. Regions with more people or even just more weather-related claims tend to have more expensive auto insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates have the benefit of cheaper auto insurance prices.
The illustration below shows the most expensive places in Georgia for teenagers to purchase a policy in. Atlanta is listed at #2 with an annual premium of $1,377 for the average policy, which is approximately $115 monthly.
|Rank||City||Premium Per Year|
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Price information shown is approximated as specific Atlanta zip code can influence coverage prices substantially.
The type of vehicle that is being insured is a significant factor when looking for economical car insurance for teenagers. Vehicles with limited speed and performance, an excellent safety record, or a low likelihood of having liability claims will cost significantly less to insure than high performance models. The table below illustrates auto insurance rates for a number of the cheapest automobiles to insure in Georgia.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$5,840|
|Ford Escape XLS 2WD||$5,845|
|Hyundai Elantra SE Touring Station Wagon||$6,282|
|Ford F-150 XLT Super Cab 2WD||$6,548|
|Ford Focus SE 4-Dr Sedan||$6,870|
|Chevrolet Impala LS||$6,876|
|Ford Edge SEL AWD||$6,870|
|Toyota RAV4 4WD||$6,930|
|Chevrolet Silverado LS Extended Cab 4WD||$6,936|
|Chevrolet Equinox LS AWD||$6,930|
|Jeep Grand Cherokee Laredo 4WD||$6,936|
|GMC Sierra SLE Crew Cab 2WD||$6,930|
|Chevrolet Malibu LS||$6,937|
|Dodge Grand Caravan SXT||$6,992|
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Data based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Georgia minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate information does not factor in vehicle garaging location which can affect coverage prices significantly.
Based on these rates, we can expect makes and models like the Honda CR-V, Ford Escape, and Hyundai Elantra are likely to be a few of the most economical vehicles to insure for teen drivers. Rates will tend to be more expensive anyway because there is more claim risk for teenagers, but generally speaking those models will probably have the lowest insurance prices possible.
Should you buy full coverage?
Finding the cheapest car insurance is the goal of the majority of people, and one of the best ways to find cheap insurance for teenagers is to not buy comprehensive and collision coverage. The illustration below shows the difference between insurance premiums with full coverage and liability only. The rate quotes are based on no claims or driving violations, $1,000 deductibles, single status, and no additional discounts are factored in.
Averaged for all age groups, physical damage coverage costs $1,650 per year more than insuring for liability only. That is a significant amount which raises the question if buying full coverage is worth the expense. There is no definitive rule that is best for determining when to drop comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, then it could be time to drop full coverage.
There are some scenarios where dropping physical damage coverage is not a good idea. If you still have a lienholder on your title, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not buy liability only.
Careless drivers pay higher rates
The recommended way to earn the most affordable car insurance rates in Atlanta for teen drivers is to be a cautious driver and avoid getting tickets or having accidents. The example below illustrates how traffic citations and accident claims impact auto insurance rates for each age group. The data assumes a married male driver, full coverage, $100 deductibles, and no discounts are applied to the premium.
The chart shows that the average cost of auto insurance per year with no accidents and a clean driving record is $1,923. Get two speeding tickets and the average cost increases to $2,661, an increase of $738 each year. Now include one accident along with the two speeding tickets and the annual cost of car insurance for teenagers increases to an average of $3,399. That's an increase of $1,476, or $123 per month, just for a couple of infractions!
Discounts on Atlanta car insurance rates
Insurance providers that offer cheap quotes for teenagers may additionally offer discounts that could lower prices by as much as 30% if you meet the requirements. Larger car insurance companies and a partial list of their discounts are included below.
- Mercury Insurance may offer discounts for age of vehicle, low natural disaster claims, type of vehicle, location of vehicle, and annual mileage.
- Farmers Insurance may include discounts for homeowner, business and professional, distant student, electronic funds transfer, alternative fuel, bundle discounts, and switch companies.
- Farm Bureau offers premium reductions for safe driver, 55 and retired, multi-vehicle, driver training, renewal discount, and good student.
- State Farm includes discounts for accident-free, driver's education, Drive Safe & Save, anti-theft, passive restraint, and Steer Clear safe driver discount.
- Allstate offers discounts including anti-theft, FullPay discount, economy car, defensive driver, EZ pay plan discount, and anti-lock brakes.
- GEICO has discounts for five-year accident-free, defensive driver, anti-lock brakes, military active duty, driver training, multi-policy, and anti-theft.
The chart below shows the comparison of yearly insurance costs with and without discounts applied. The data assumes a female driver, no accidents or driving violations, Georgia state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with paid-in-full, continuous coverage, paperless filing, vehicle safety, anti-theft, and passive restraint discounts applied. In this example, theaverage yearly reduction on car insurance for teenagers is 28% or $749.
If you have questions and prefer to have a professional recommendation when trying to find the best insurance rates for teen drivers, the insurance agencies below can most likely help you decide which coverage fits your budget.
To find an Atlanta insurance agent in your neighborhood, click the button link following the list.
- Randy Beavers - State Farm Insurance Agent
135 Mount Vernon Hwy - Atlanta, GA 30328 - (770) 396-3810
- Rob Hill - State Farm Insurance Agent
2800 Shallowford Rd NE, Ste A-B - Atlanta, GA 30341 - (678) 791-7132
- Farmers Insurance - Jannette Boykin
674 North Highland Avenue Northeast b - Atlanta, GA 30306 - (678) 904-6621
- Cascade Heights Insurance Agency
833 Cascade Ave SW e - Atlanta, GA 30311 - (404) 758-7811
How to find low-cost car insurance for teenagers
It is possible to find better rates, and here are some of the better thrifty suggestions that can help Atlanta drivers buy cheap coverage.
- Better credit rating means better rates
- Safer vehicles cost less to insure
- Do not get traffic tickets
- Raise physical damage deductibles
- Avoid having at-fault accidents
- Drop full coverage on older vehicles
- Ensure you have the best deal by shopping around regularly
The last tip in the list is extraordinarily critical, as was noted in the prior information. Prices charged by car insurance companies fluctuate constantly, so don't be afraid to switch to a new company if you can save money. Many consumers stick with the same company and that's fine, but it's not a good idea if that devotion results in you overpaying hundreds of dollars a year. If you have a few minutes, compare prices and find cheaper car insurance for teenagers in Atlanta.