The make and model of vehicle that needs insurance is one of the biggest factors that determines whether or not you can buy low-cost car insurance for 18 year olds. Vehicles with high performance engines, poor passenger safety features, or a high likelihood of having liability claims will cost more to insure than safer models.
The data below illustrates insurance costs for some of the cheaper automobiles to buy coverage for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $3,141 |
| Ford Escape Limited 2WD | $3,176 |
| Honda CR-V EX-L 4WD | $3,186 |
| Toyota Prius | $3,421 |
| Dodge Grand Caravan SE | $3,518 |
| Ford Edge SEL AWD | $3,692 |
| Ford Focus SE 4-Dr Sedan | $3,698 |
| Toyota RAV4 Limited 4WD | $3,727 |
| Jeep Grand Cherokee Laredo 4WD | $3,732 |
| Ford F-150 Lariat Crew Cab 4WD | $3,762 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $3,771 |
| Ford Explorer Limited 4WD | $3,762 |
| Hyundai Elantra Blue 4-Dr Sedan | $3,901 |
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Data rating is based on single male driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in the specific area where the vehicle is garaged which can affect premiums greatly.
Looking at the rates, you can see that makes and models like the Honda Accord, Ford Escape, Honda CR-V, and Toyota Prius are a few of the more affordable vehicles to insure for teen drivers. Car insurance rates will tend to be more expensive because there is more exposure for 18 year olds, but generally speaking those particular models will have the cheapest rates that you are likely to find.
For teen drivers, one of the largest considerations that help determine insurance cost is your zip code in Irvine. Areas with more people or even just a higher incidence of claims are more likely to have higher rates, whereas areas with less people or fewer weather incidents have the luxury of cheap car insurance rates.
The illustration below lists the most expensive areas in California for 18 year olds to buy an auto insurance policy in. Irvine is listed at #21 having an annual price of $1,371 for the average policy, which is approximately $114 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Los Angeles | $2,104 |
| 2 | Glendale | $2,058 |
| 3 | San Francisco | $1,763 |
| 4 | Oakland | $1,738 |
| 5 | Sacramento | $1,703 |
| 6 | San Bernardino | $1,644 |
| 7 | Long Beach | $1,610 |
| 8 | Stockton | $1,603 |
| 9 | Fontana | $1,566 |
| 10 | Santa Clarita | $1,548 |
| 11 | Modesto | $1,532 |
| 12 | Riverside | $1,527 |
| 13 | Garden Grove | $1,508 |
| 14 | Fresno | $1,502 |
| 15 | Santa Ana | $1,497 |
| 16 | Moreno Valley | $1,491 |
| 17 | Anaheim | $1,488 |
| 18 | San Jose | $1,423 |
| 19 | Fremont | $1,403 |
| 20 | Huntington Beach | $1,402 |
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Rate quotes are estimated as specific location information can revise coverage rates considerably.
The diagram below demonstrates how deductibles can affect premium costs when trying to find cheap insurance for 18 year olds. The premiums assume a married female driver, comprehensive and collision coverage, and no discounts are applied.
As shown above, a 40-year-old driver could lower their car insurance rates by $408 a year by switching from a $100 deductible to a $500 deductible, or save $614 by using a $1,000 deductible. Even younger insureds, such as the 20-year-old chart data, could reduce their rates as much as $1,008 or more by choosing a higher deductible.
If you do decide to increase your deductibles, it is important to have emergency funds available to be able to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Does it make sense to buy full coverage?
Reducing premiums for insurance is the goal of most vehicle owners, and one good way to find cheap insurance for 18 year olds is to buy only liability coverage. The diagram below compares car insurance rates with full physical damage coverage compared to only buying liability only. The price estimates are based on no accidents, no driving violations, $250 deductibles, drivers are not married, and no policy discounts are applied.
As an overall average, comp and collision coverage costs $2,314 per year over and above liability only. At some point, about every driver wonders if buying full coverage is a good investment. There is no set rule of when to stop paying for full coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is more than about 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s pretend your vehicle’s replacement value is $5,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $4,000 after paying your deductible. If it’s costing you more than $400 annually for comprehensive and collision coverage, then it might be time to buy liability only.
There are some cases where dropping physical damage coverage is not in your best interest. If you still have a lienholder on your title, you have to keep full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not buy liability only.
Rate increases following a ticket or accident
One of the best ways to receive low insurance rates in Irvine for teen drivers is to drive cautiously and not receive tickets or have accidents. The illustration below highlights how traffic violations and at-fault accidents can affect insurance costs for different categories of driver ages. The premiums assume a single male driver, full physical damage coverage, $100 deductibles, and no policy discounts are applied.
In the example above, the average cost of auto insurance in Irvine per year with no violations or accidents is $2,525. Receive two speeding tickets and the average cost swells to $3,354, an increase of $829 each year. Then add one accident along with the two speeding tickets and the yearly cost of insurance for 18 year olds jumps again to an average of $4,183. That’s an increase of $1,658, or $138 per month, just for being a careless driver!
Chances are good that you’re overpaying for Irvine car insurance
Irvine insurance rates are based on many factors that control the price of your policy. Improving your credit score, buying higher coverage limits, or getting into an accident can trigger rate changes resulting in some rates now being more affordable than before.
Not only may your situation change, but insurers change the rates they charge in California multiple times each year as an adjustment for underwriting gains or losses. Higher than usual claims can cause higher rates, while profitable underwriting may produce more affordable Irvine car insurance rates.
As an example, the graph below compares the cheapest car insurance in Irvine, CA for a 30-year-old female driver with no violations or accidents, and good credit. If we compare prices based on her current situation, USAA has the best car insurance rates in Irvine at $1,148 per year. This is $503 less than the average price paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide are the remainder of the most affordable Irvine, CA auto insurance companies.
Now let’s give the driver in the first example a claim, a little lower credit rating, and an imperfect driving record. Because each company has a proprietary formula to determine rates, comparing quotes most likely will result in a new list of companies as shown below.
Grange now has the cheapest price in Irvine with Mercury, Allstate, GEICO, and Progressive now being in the top five. This shows why it is critical to compare many different companies when trying to get the most affordable auto insurance rates for 18 year olds. Car insurance prices can be altered by many different factors and can decrease or increase without notice, so the most economical option a year ago may now not even be in the top five.
The insurance agents in Irvine listed below are a good start to help you decide which policy fits your needs best, as some people have coverage questions and would like to get help from a professional when trying to find the best insurance rates for teen drivers. It can be difficult to find the cheapest car insurance policy, so using a licensed agent can add comfort knowing you have decent coverage if you have a claim.
To find an auto insurance agency by location nearest to you, click the button below the list.
- Hodge and Hodge Insurance Inc
10 Hughes # 205 – Irvine, CA 92618 – (949) 458-0442 - Tustin Insurance Agency
17621 Irvine Blvd #112 – Tustin, CA 92780 – (714) 838-1704 - Farmers Insurance – Charmaine Lim
20 Pacifica #1450 – Irvine, CA 92618 – (949) 387-9999 - Mike Stitt – State Farm Insurance Agent
17452 Irvine Blvd #208 – Tustin, CA 92780 – (714) 544-4717 - Ray Vermeulen – State Farm Insurance Agent
2151 Michelson Dr #242 – Irvine, CA 92612 – (949) 752-6335