The vehicle on the policy is one of the main factors when quoting the most economical car insurance for teenage males. Vehicles with lower performance, good crash test ratings, or a low likelihood of having liability claims will cost less to insure than fast, unsafe models. The table below presents coverage rates for a handful of the most economical vehicles to buy insurance for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 4WD | $5,389 |
| Honda Accord EX-L 4-Dr Sedan | $5,739 |
| Ford Escape Limited 4WD | $5,744 |
| Toyota Prius | $5,793 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $5,920 |
| Chevrolet Silverado LS Regular Cab 4WD | $5,930 |
| Dodge Grand Caravan SE | $5,977 |
| Ford Explorer XLT 4WD | $5,986 |
| Toyota Tacoma 2WD | $6,270 |
| Ford Edge SEL 2WD | $6,277 |
| Ford Focus S 4-Dr Sedan | $6,270 |
| Chevrolet Malibu LS | $6,327 |
| Chevrolet Impala LT | $6,337 |
| Jeep Grand Cherokee Laredo 2WD | $6,327 |
| Chevrolet Equinox LT AWD | $6,336 |
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Data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, and safe-driver. Estimates do not factor in specific location information which can impact price quotes considerably.
Based upon the rates shown, you can expect cars like the Honda CR-V, Honda Accord, and Ford Escape should be some of the most budget-friendly vehicles to insure for teen boys. Rates will be higher anyway just because there is more inherent risk for teenage males, but generally speaking those makes and models will tend to have the lowest insurance rates available.
Comparing quotes for cheap car insurance is not most people’s favorite thing to do, and determining which company offers the lowest-priced insurance rates for teenage males will take even more rate comparisons. Each insurer has a unique approach for filing rates in each state, so first let’s look at the rankings for the overall cheapest insurance companies in Ohio.
Find the Cheapest Auto Insurance for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $654 |
| 2 | Erie | $681 |
| 3 | Allied | $697 |
| 4 | Frankenmuth | $701 |
| 5 | Travelers | $712 |
| 6 | USAA | $719 |
| 7 | Cincinnati Insurance | $756 |
| 8 | Merchants Insurance Group | $771 |
| 9 | Grange Mutual | $804 |
| 10 | General Casualty | $805 |
| 11 | Motorists Mutual | $816 |
| 12 | Central Mutual | $848 |
| 13 | State Farm | $885 |
| 14 | Hastings Mutual | $893 |
| 15 | Atlantic States | $904 |
| 16 | Westfield | $946 |
| 17 | Auto-Owners | $958 |
| 18 | Western Reserve | $970 |
| 19 | Progressive | $982 |
| 20 | Nationwide | $988 |
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Utica National may have some of the cheapest car insurance rates in Toledo at around $654 per year. Erie, Allied, Frankenmuth, and Travelers also rank well as some of the cheaper Toledo, OH insurance companies.
As depicted above, if you have coverage with Allied and switched to Utica National, you might see an annual savings of in the vicinity of $43. Drivers with Frankenmuth may save as much as $47 a year, and Travelers policyholders might lower prices by up to $58 a year.
To find the cheapest coverage for you, click here to start your free quote or quote prices from the following companies.
Bear in mind that those prices are averaged across all insureds and vehicles and and are not figured with an exact zip code location for teenage males. So the car insurance company that fits your needs best may not even be in the top 33 companies in the list above. That is why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.
Get discounts on Toledo auto insurance rates
Car insurance companies that offer coverage for teenage males may provide special discounts that can lower rates by as much as 40% or more if you meet specific criteria. Popular insurance companies and a summarized list of policyholder discounts can be read below.
- American Family may include discounts for air bags, mySafetyValet, defensive driver, multi-vehicle, TimeAway discount, Steer into Savings, and early bird.
- Nationwide offers premium reductions for anti-theft, Farm Bureau membership, family plan, business or organization, easy pay, and good student.
- MetLife has discounts for multi-policy, good student, claim-free, accident-free, and good driver.
- 21st Century offers discounts including homeowners, anti-lock brakes, good student, driver training, and air bags.
- Farmers Insurance may offer discounts for business and professional, teen driver, electronic funds transfer, multi-car, and distant student.
- Allstate may have discounts that include defensive driver, anti-theft, passive restraint, 55 and retired, FullPay discount, and teenSMART discount.
The diagram below illustrates the difference between auto insurance rates with and without some available policy discounts. The data assumes a female driver, a clean driving record, no at-fault accidents, Ohio state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with vehicle safety, paid-in-full, passive restraint, anti-theft, good student, and paperless filing discounts applied. When these discounts are applied, the average savings per year on insurance for teenage males is 28% or $584.
The example below highlights how deductible selection can change annual premium costs when getting quotes for cheap insurance for teenage males. The premium estimates are based on a married female driver, full physical damage coverage, and no discounts are factored in.
A 30-year-old driver could save $214 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $324 by switching to a $1,000 deductible. Even younger drivers, like the age 20 example, could reduce their rates $458 annually just by choosing higher deductibles. If you do make the decision to raise your deductibles, it will now be necessary to have plenty of money set aside to satisfy the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Why you should be shopping around
Toledo, OH insurance rates are impacted by many factors that control the price of your policy. Simply turning a year older, having a claim, or having an accident can trigger rate changes that can now make some companies more affordable than before. In addition, car insurance companies change the rates they charge in Ohio as needed in order to maintain liquidity for claims. Higher than usual claims can cause additional price hikes, while better underwriting may cause more affordable Toledo car insurance rates.
For example, the bar chart below shows a variety of companies that have the cheapest car insurance in Toledo, OH for a 40-year-old male driver with no accidents or violations, and excellent credit. If we estimate prices based on his current risk factors, Utica National might offer the most affordable car insurance rates in Toledo at $847 a year. This is $193 less than the average rate paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers also make the list of the cheapest Toledo, OH auto insurance companies.
In this example, we will give the driver from above a chargeable accident, slightly worse credit, and a couple of points charged on his driving record. Since every car insurance company uses a different method for filing rates in each state, comparing insurance quotes will most likely result in a substantially altered list of companies as shown below.
Merchants Insurance Group now has the lowest price in Toledo with Cincinnati Insurance, General Casualty, Grange Mutual, and Motorists Mutual completing the list. This illustrates why it is so important to compare as many rates as possible when trying to get the most economical insurance quotes for teenage males. Insurance rates are impacted by many factors and can increase or decrease at any time, so the most economical option two years ago may now be priced much higher than other options.
Tips for finding low-cost insurance for teenage males
Below you’ll find many money-saving solutions that can help Ohio drivers quote more affordable coverage.
- Full coverage may not be needed on older vehicles
- If possible, pay for small claims out-of-pocket
- Lower rates by purchasing a safer vehicle
- Bundle home or renters insurance to earn a discount on car insurance
- Drivers with good credit often pay less
- Increase your physical damage deductibles
- Compare prices frequently to find the best deal
The final tip is notably necessary, as we pointed out in this write-up. Prices charged by auto insurers in Toledo change constantly, so don’t hesitate to buy from a new company if a more affordable rate is found. Having a favorite company is great, but is isn’t recommended if that loyalty results in overpaying thousands of dollars over the life of your policy. It only takes a couple minutes to shop around and find cheaper insurance for teenage males.