The car, truck, or SUV driven is probably the biggest factor when looking for the cheapest auto insurance for 18 year olds. Vehicles with higher performance, poor passenger safety features, or a track record of large liability claims will cost quite a bit more to insure than safer, lower-performance models.
The data below outlines auto insurance prices for some of the most cost-effective vehicles to insure.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$3,865|
|Ford Escape XLS 2WD||$3,871|
|Ford F-150 XLT Crew Cab 2WD||$4,324|
|Ford Edge SEL AWD||$4,541|
|Toyota Tacoma 2WD||$4,549|
|Chevrolet Impala LS||$4,541|
|Ford Focus S 4-Dr Sedan||$4,546|
|Honda Odyssey EX W/Rear Entertainment||$4,541|
|Chevrolet Equinox LS AWD||$4,583|
|Toyota Camry LE||$4,590|
|Nissan Altima 2.5 4-Dr Sedan||$4,583|
|Toyota RAV4 2WD||$4,588|
|Ford Fusion S 4-Dr Sedan||$4,583|
|Chevrolet Malibu LT||$4,625|
|Dodge Grand Caravan Crew||$4,632|
|Ford Explorer Limited 2WD||$4,625|
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Price data assumes single female driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, and claim-free. Prices do not factor in garaging location in Colorado Springs, CO which can influence coverage prices substantially.
Looking at the rates, you can assume that vehicles like the Honda CR-V, Ford Escape, Toyota Prius, Ford F-150, and Ford Edge are most likely to be the most economical vehicles to insure for teen drivers. The price of auto insurance will tend to be more expensive because there is more risk for 18 year olds, but in general those models will have the best rates available.
One of the many components that help determine the cost of insurance is where you live in Colorado Springs. Areas with increased crime or more people will most likely have higher rates, whereas more rural areas benefit from having to pay less for coverage.
The illustration below shows the most expensive cities in Colorado for 18 year olds to purchase auto insurance in. Colorado Springs comes in at #12 with the annual price of $1,290 for the average policyholder, which is approximately $108 per month.
|Rank||City||Premium Per Year|
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Premium costs are estimated as vehicle location can decrease or increase premium rates substantially.
Selecting the right insurance provider is hard considering how many companies there are to choose from in Colorado. The rank data below can help you select which car insurance companies you want to consider when shopping around.
These rankings are only made up of companies that write coverage in many states, so smaller regional companies are not taken into consideration for these rankings. If you wish to compare prices and find cheaper insurance for 18 year olds, click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Drive safe and save
The best way to get the cheapest insurance rates in Colorado for teen drivers is to pay attention while driving and avoid accidents and traffic violations. The chart below highlights how traffic violations and at-fault accidents can influence insurance costs for each age group. The data assumes a single male driver, full coverage, $1,000 deductibles, and no discounts are factored in.
The data charted above shows the average cost of an auto insurance policy in Colorado Springs per year with a clean driving record and no accidents is $1,476. Receive one speeding ticket and the average cost swells to $1,665, an increase of $189 each year. Now add one accident along with the one speeding ticket and the 12-month cost of insurance for 18 year olds jumps again to an average of $2,188. That's an increase of $712, or $59 per month, just for not keeping your driving record clean!
The diagram below demonstrates how deductibles can increase or decrease insurance costs when searching for cheap insurance for 18 year olds. The data is based on a single male driver, comp and collision included, and no discounts are factored in.
As shown above, a 50-year-old driver could reduce rates by $290 a year by increasing from a $100 deductible up to a $500 deductible, or save $436 by choosing a $1,000 deductible. Even younger insureds, like the Age 20 chart data, could reduce their rates $948 every year by using a higher deductible. When choosing a higher deductible, it is essential to have enough in a savings account to offset the extra out-of-pocket expense, which is the main drawback of higher deductibles.
If you wish to have professional advice when comparing insurance rates for teen drivers, the agencies below can most likely help you make a decision which insurance coverage you need.
To find an agent in your neighborhood, click the button at the bottom or click here to compare prices now.
State Farm: Jeff Libby
7610 N Union Blvd #115 - Colorado Springs, CO 80920 - (719) 593-9200
J.R. Rodney State Farm®
1825 Main St #D - Colorado Springs, CO 80911 - (719) 392-7366
American Family Insurance - Michael Janzen Agency Inc.
1045 W Garden of the Gods Rd Ste M - Colorado Springs, CO 80907 - (719) 528-6387
Brandon Sullivan - State Farm Insurance Agent
5615 Constitution Ave - Colorado Springs, CO 80915 - (719) 597-5000