It’s hard to avoid all the catchy advertisements from auto insurance companies like Allstate, GEICO, and Farmers claiming enormous savings, so you should just select the one with the best jingle, right?
It’s not that simple, unfortunately, as there are a ton of unknowns such as how well you maintain your credit, your gender, and what your desired deductibles are. In this article, we will teach you about the types of situations that result in high rates and also should give you a good start to your coverage search.
The make and model of vehicle that needs insurance is a large consideration when shopping for cheap auto insurance for teenagers. Vehicles with average performance, an excellent safety record, or low incidents of liability claims will cost significantly less to insure than higher performance models.
The list below presents coverage costs for a number of the cheapest vehicles to insure.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX 4-Dr Sedan | $3,185 |
| Hyundai Elantra GLS Touring Station Wagon | $3,193 |
| Ford Escape Limited 2WD | $3,215 |
| Honda CR-V EX-L 2WD | $3,220 |
| Toyota Prius | $3,449 |
| Ford Edge SE 2WD | $3,546 |
| Ford Explorer XLT AWD | $3,575 |
| Ford F-150 XL Crew Cab 2WD | $3,584 |
| Honda Odyssey EX W/Rear Entertainment | $3,748 |
| Chevrolet Impala LT | $3,778 |
| Volkswagen Jetta S 4-Dr Sedan | $3,783 |
| Toyota RAV4 2WD | $3,778 |
| Dodge Grand Caravan SXT | $3,809 |
| Ford Focus SEL 4-Dr Sedan | $3,948 |
| Toyota Corolla LE | $3,978 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $3,983 |
| Toyota Tacoma X-Runner 2WD | $3,978 |
| Toyota Camry SE | $3,987 |
| Jeep Grand Cherokee SRT-8 4WD | $4,009 |
| Chevrolet Malibu LTZ | $4,019 |
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Data rating is based on single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in vehicle location which can revise insurance rates greatly.
Based upon the table data, makes and models like the Honda Accord, Hyundai Elantra, and Ford Escape are most likely to be a few of the most budget-friendly vehicles to insure for teen drivers. The price of auto insurance will be more costly just due to the fact that there is more risk for teenagers, but generally speaking those particular models will tend to have the best rates that you are likely to find.
One of the more important considerations that are looked at to determine the amount you pay each year for auto insurance is where you normally keep your vehicle in Fort Wayne. Larger areas tend to pay slightly more, whereas areas that tend to be more rural profit from lower rates.
The information below sorts the most expensive areas in Indiana for teenagers to buy an auto insurance policy in. Fort Wayne ranks #16 costing $976 for the average insurance policy, which is about $81 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Gary | $1,388 |
| 2 | Hammond | $1,314 |
| 3 | Merrillville | $1,139 |
| 4 | Portage | $1,104 |
| 5 | Evansville | $1,087 |
| 6 | Indianapolis | $1,082 |
| 7 | Terre Haute | $1,067 |
| 8 | Lawrence | $1,066 |
| 9 | Jeffersonville | $1,048 |
| 10 | New Albany | $1,039 |
| 11 | Anderson | $1,031 |
| 12 | Kokomo | $1,011 |
| 13 | Elkhart | $985 |
| 14 | Fishers | $983 |
| 15 | South Bend | $976 |
| 16 | Fort Wayne | $976 |
| 17 | Richmond | $973 |
| 18 | Greenwood | $969 |
| 19 | Mishawaka | $965 |
| 20 | Bloomington | $958 |
| 21 | Columbus | $955 |
| 22 | Noblesville | $948 |
| 23 | Muncie | $937 |
| 24 | Lafayette | $926 |
| 25 | Carmel | $919 |
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Prices are comparative as specific Fort Wayne zip code can revise premium rates greatly.
Finding out which company offers the most affordable car insurance rates for teenagers will require a bit more effort in order to find coverage that fits your budget. Every auto insurer has a proprietary method for filing rates in each state, so let’s take a look at the car insurance companies that tend to have lower prices in Fort Wayne.
Cheap Insurance Rates for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $620 |
| 2 | Cincinnati Insurance | $658 |
| 3 | USAA | $681 |
| 4 | Erie | $705 |
| 5 | Western Reserve | $846 |
| 6 | Indiana Farmers Mutual | $849 |
| 7 | The Hartford | $855 |
| 8 | Auto-Owners | $906 |
| 9 | Nationwide | $930 |
| 10 | State Farm | $957 |
| 11 | Utica National | $965 |
| 12 | Motorists Mutual | $986 |
| 13 | Hastings Mutual | $1,013 |
| 14 | Safeco | $1,013 |
| 15 | Farmers | $1,053 |
| 16 | Westfield | $1,072 |
| 17 | State Auto | $1,098 |
| 18 | Wolverine Mutual | $1,105 |
| 19 | GEICO | $1,122 |
| 20 | Progressive | $1,128 |
| View More Rates Go | ||
Travelers may have some of the lowest car insurance rates in Fort Wayne at around $620 each year. Cincinnati Insurance, USAA, Erie, and Western Reserve are also some of the more affordable Fort Wayne, IN insurance companies.
In the above example, if you currently buy coverage from USAA and switched to Travelers, you could see savings of in the neighborhood of $61. Drivers with Erie could save as much as $85 a year, and Western Reserve customers might lower prices by up to $226 a year.
To see how much you can save, click here or visit any of the companies below.
Bear in mind that those policy prices are averaged for all drivers and vehicles and and are not figured with an exact zip code location for teenagers. So the insurer that can offer the best rates for your situation may not even be in the top 36 companies shown above. That point stresses why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.
Picking a good quality auto insurance company can be difficult considering how many companies sell insurance in Indiana. The ranking information below could help you pick which coverage providers you want to consider comparing prices from. The ratings below are only comprised of large, nationwide insurance companies, so smaller regional companies are not taken into consideration for this list.
Top 10 Large Auto Insurance Providers Overall in Fort Wayne
- USAA
- 21st Century
- GEICO
- Nationwide
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- Travelers
- American Family
Top 10 Large Auto Insurance Providers in Fort Wayne Ranked by A.M. Best Rating
- USAA – A++
- GEICO – A++
- Travelers – A++
- State Farm – A++
- Allstate – A+
- Progressive – A+
- Erie Insurance – A+
- The Hartford – A+
- Nationwide – A+
- Esurance – A+
The illustration below demonstrates how deductible levels can change insurance costs when getting quotes for cheap insurance for teenagers. The premiums assume a single female driver, full coverage, and no discounts are applied.
A 50-year-old driver could cut expenses by $300 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $454 by using a $1,000 deductible. Youthful drivers, such as the 20-year-old chart data, could save $772 or more just by choosing larger deductibles.
When raising deductibles, it’s a good idea to have enough savings set aside to enable you to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Don’t stick with an overpriced policy
Fort Wayne, IN car insurance rates are determined by lots of factors which can substantially change the cost of coverage. Simply having a birthday, getting divorced, or getting a speeding ticket can trigger changes in premium resulting in some rates now being more affordable than others. In addition, car insurance companies modify pricing at least once a year to ensure their profitability. Higher than normal claim frequency or severity can result in additional price hikes, while profitable underwriting may cause lower-cost Fort Wayne car insurance rates.
As an example, the chart below shows rates for the cheapest car insurance in Fort Wayne, IN for a 45-year-old female driver with no accidents, a clean driving record, and great credit. If we compare prices based on her current risk factors, Travelers might quote the cheapest car insurance rates in Fort Wayne at $647 a year. This is $593 less than the average premium paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and Indiana Farmers Mutual are the rest of the cheapest Fort Wayne, IN auto insurance companies.
The chart below compares rates after we give the driver from above an at-fault accident, a lower credit rating, and a speeding ticket. Due to the fact that every auto insurer has their own unique process to set their prices, comparing prices may result in a substantially altered list of affordable Fort Wayne car insurance companies as shown below.
Western Reserve now has the cheapest car insurance in Fort Wayne with Auto-Owners, Erie, State Farm, and Nationwide also being competitive. This demonstrates why it is crucial to perform a complete rate comparison to find the most economical car insurance rates for teenagers.
Insurance prices can be determined by many risk factors and can change without notice, so the best price when you bought your policy may now be costing you a lot of money.