The car, truck, or SUV that needs insurance is a significant factor when comparing quotes for the cheapest insurance for 16 year olds. Vehicles with lower performance, an excellent safety record, or low incidents of liability claims will cost less to insure than higher performance models. The data below showcases coverage premiums for a selection of the most cost-effective vehicles to insure.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $3,719 |
| Ford Escape XLT 2WD | $3,728 |
| Honda CR-V LX 2WD | $3,719 |
| Toyota Prius | $4,018 |
| Toyota Tacoma 4WD | $4,181 |
| Volkswagen Jetta 2.0T Station Wagon | $4,245 |
| Chevrolet Equinox LS AWD | $4,408 |
| Toyota RAV4 Sport 4WD | $4,414 |
| Dodge Grand Caravan SXT | $4,446 |
| Ford Explorer Eddie Bauer AWD | $4,456 |
| Chevrolet Malibu LT | $4,446 |
| Ford F-150 Lariat Crew Cab 2WD | $4,451 |
| Honda Civic LX-S 4-Dr Sedan | $4,600 |
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Table data represents single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium costs do not factor in vehicle garaging location which can decrease or increase premium rates considerably.
Based upon these rates, cars like the Honda Accord, Ford Escape, and Honda CR-V should be some of the less-costly vehicles to insure for new drivers. Rates will be more expensive because of the fact that there is more liability risk for 16 year olds, but overall those particular vehicles will most likely have the cheapest rates compared to other vehicles.
Comparing rates for cost effective car insurance is challenging, and figuring out which insurers offer the most affordable insurance rates for 16 year olds calls for more quotes for comparison. Each auto insurance company has a different process for establishing rates, so we’ll go over the insurance companies with the most affordable rates in Indiana.
Find the Cheapest Auto Insurance for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $620 |
| 2 | USAA | $661 |
| 3 | Cincinnati Insurance | $684 |
| 4 | Erie | $705 |
| 5 | Western Reserve | $864 |
| 6 | Indiana Farmers Mutual | $875 |
| 7 | The Hartford | $881 |
| 8 | Auto-Owners | $888 |
| 9 | Nationwide | $940 |
| 10 | Utica National | $956 |
| 11 | State Farm | $957 |
| 12 | Motorists Mutual | $966 |
| 13 | Safeco | $973 |
| 14 | Hastings Mutual | $1,013 |
| 15 | Farmers | $1,033 |
| 16 | Westfield | $1,094 |
| 17 | Progressive | $1,095 |
| 18 | GEICO | $1,100 |
| 19 | Wolverine Mutual | $1,105 |
| 20 | State Auto | $1,120 |
| Quote Your Rates Go | ||
Travelers may offer some of the cheapest car insurance rates in Fort Wayne at around $620 each year. USAA, Cincinnati Insurance, Erie, and Western Reserve also are some of the more affordable Fort Wayne, IN car insurance companies.
In the above rates, if you buy coverage from Western Reserve and switched to USAA, you may see an annual premium reduction of upwards of $203. Insureds with Indiana Farmers Mutual could save as much as $214 a year, and The Hartford policyholders might cut rates by $220 a year.
To find cheaper insurance rates for your vehicle, click here to start a quote or click through to the companies below.
It’s important to note that these policy prices are averaged across all ages of drivers and types of vehicles and and are not figured with an exact vehicle garaging location for 16 year olds. So the insurer that can offer you the lowest price may not even be in the list above. That affirms the importance of why you need to compare rates from multiple companies using your own specific driver information and vehicle.
The information below demonstrates how deductible levels can affect insurance prices when trying to find cheap insurance for 16 year olds. The information is based on a married male driver, full coverage, and no discounts are applied.
The data above shows that a 40-year-old driver could lower their car insurance rates by $198 a year by changing from a $100 deductible to a $500 deductible, or save $296 by changing to a $1,000 deductible. Younger drivers, like the 20-year-old example, have the ability to save up to $652 every year by choosing a larger deductible amount.
When choosing a higher deductible, it is essential to have plenty of savings on hand to be able to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Selecting a highly-rated auto insurance company can be rather challenging considering how many choices there are in Fort Wayne. The information shown below could help you choose which car insurance providers you want to consider purchasing from. These ratings are only comprised of companies that insure vehicles across America, so companies that may only write in Indiana will not be included in this list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Why you should be shopping around
Fort Wayne, IN insurance rates are based on many factors that control the price you pay. Turning one year older, getting married, or getting a few speeding tickets may cause policy rate changes that can now make some companies affordable when they were higher priced.
Not only that, but car insurance companies amend premium rates every year or even multiple times each year in order to offset underwriting gains or losses. Heavier than normal losses can cause additional premium costs, while lower claim levels can produce lower-priced Fort Wayne car insurance rates.
The graph below analyzes the cheapest car insurance in Fort Wayne, IN for a 30-year-old male driver with a good driving record, no prior claims, and a decent credit rating. When quoting prices based on his current risk factors, Travelers may offer the most affordable car insurance rates in Fort Wayne at $615 annually. This is $625 less than the average policy premium paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and The Hartford are also on the list of the most affordable Fort Wayne, IN auto insurance companies.
Now we will pretend the driver from the first example an at-fault accident, slightly worse credit, and an imperfect driving record. Since each auto insurance company uses their own calculation to determining premium rates, analyzing rates could now result in a different list of the cheapest Fort Wayne car insurance companies as shown below.
Western Reserve now has the best auto insurance rate in Fort Wayne, IN with Auto-Owners, Cincinnati Insurance, Motorists Mutual, and Nationwide also having competitive pricing. This example demonstrates why it is critical to perform an extensive rate comparison when trying to get the most economical insurance quotes for 16 year olds.
Prices are made up of many risk factors and can change without notice, so the most affordable company the last time you shopped your coverage around may now not even be in the top five.
The agents below can probably help you decide which car insurance company is the best fit, as some drivers aren’t sure which coverage they need and prefer to get some guidance when trying to find the best insurance rates for new drivers. It can be difficult to find the best policy yourself, so insurance agents can bring satisfaction knowing your policy gives you sufficient coverage for your assets. To find a Fort Wayne insurance agency nearest to you, click the link at the bottom or click here to get price quotes now.
- Tom Steckler Agency Inc
10432 Coldwater Rd – Fort Wayne, IN 46845 – (260) 338-0338 - Shawn Corbett – State Farm Insurance Agent
6061 N Clinton St – Fort Wayne, IN 46825 – (260) 484-6199 - Stewart Brimner Group
3702 Rupp Dr – Fort Wayne, IN 46815 – (260) 482-6900 - Stoller-Dunham Insurance Agency
6058 E State Blvd – Fort Wayne, IN 46815 – (260) 749-4970 - InsureOne Insurance Agency
3213 E State Blvd – Fort Wayne, IN 46805 – (260) 216-0024
View more Fort Wayne, IN insurance agencies
How to find budget-friendly car insurance for 16 year olds
Lowering your rates is not difficult, and here are some of the better thrifty ideas that can help Indiana drivers buy cheap car insurance.
- Save money by only buying liability coverage for older vehicles
- Higher credit ratings may save you money
- Do not get into accidents that are your fault
- Safe vehicles cost less to insure
- Save money by observing traffic laws and speed limits
- Raise physical damage deductibles
- Compare rates regularly and switch companies to save money
The final tip is certainly critical, as we stressed in the prior information. Insurance rates adjust frequently, so drivers shouldn’t be reluctant to switch companies if you find a better deal.
Many drivers prefer to stick with one company, but it isn’t a good idea if that faithfulness ends up costing you thousands of dollars over several years. It only takes a couple minutes to compare rates and find cheaper car insurance for 16 year olds in Fort Wayne.