The words “economical” and “insurance” really don’t belong together, specifically when looking for the best price on coverage for young drivers. Because of the high cost, let’s lead off by showing you some situations that have a considerable impact on insurance prices, and find out if you can take a little off the next policy you buy.
The type of vehicle that needs insurance is probably the biggest factor when comparing quotes for cheaper insurance for young drivers. Vehicles with reasonable performance levels, an excellent safety record, or a low likelihood of liability claims will cost much less to insure than higher performance models.
The table below showcases car insurance rates for a handful of the more affordable automobiles to buy coverage for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX-P 4-Dr Sedan | $3,311 |
| Ford Escape XLT 4WD | $3,340 |
| Honda CR-V EX-L 4WD | $3,347 |
| Toyota Prius | $3,574 |
| Dodge Grand Caravan CV | $3,725 |
| Ford Explorer XLT AWD | $3,734 |
| Chevrolet Impala LS | $3,899 |
| Honda Odyssey EX | $3,909 |
| Chevrolet Malibu Hybrid | $3,928 |
| Ford Fusion S 4-Dr Sedan | $3,934 |
| Toyota RAV4 Sport 2WD | $3,928 |
| Toyota Tacoma Double Cab 4WD | $3,933 |
| Chevrolet Equinox LT 2WD | $3,928 |
| GMC Sierra SLE Regular Cab 2WD | $3,934 |
| Toyota Camry LE | $3,928 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $3,959 |
| Ford F-150 SVT Raptor Super Cab 4WD | $3,968 |
| Honda Civic VP 4-Dr Sedan | $4,100 |
| Toyota Corolla S | $4,129 |
| Ford Edge Sport 2WD | $4,136 |
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Table data assumes single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in specific zip code location which can revise rates substantially.
By looking at the data, we can presume that makes and models like the Honda Accord, Ford Escape, Honda CR-V, Toyota Prius, and Dodge Grand Caravan are most likely going to be a few of the less-costly vehicles to insure for youthful drivers. The price for car insurance will be higher anyway just due to the fact that there is a higher risk for young drivers, but overall those particular vehicles will tend to have the lowest prices compared to all other vehicles.
One of the more important factors that help determine the annual cost of car insurance is where you normally keep your vehicle in Corpus Christi. More populated areas tend to pay slightly more, whereas more rural areas profit from lower rates.
The table below sorts the highest-priced areas in Texas for young drivers to purchase auto insurance in. Corpus Christi is ranked at #20 with an annual cost of $1,572 for the average insured, which is around $131 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | McAllen | $1,996 |
| 2 | Brownsville | $1,908 |
| 3 | Houston | $1,891 |
| 4 | Amarillo | $1,858 |
| 5 | Dallas | $1,855 |
| 6 | Laredo | $1,851 |
| 7 | Garland | $1,850 |
| 8 | Grand Prairie | $1,811 |
| 9 | Irving | $1,772 |
| 10 | Beaumont | $1,772 |
| 11 | Mesquite | $1,753 |
| 12 | Pasadena | $1,740 |
| 13 | Arlington | $1,709 |
| 14 | San Antonio | $1,671 |
| 15 | Lubbock | $1,665 |
| 16 | Fort Worth | $1,653 |
| 17 | Plano | $1,624 |
| 18 | Carrollton | $1,615 |
| 19 | Austin | $1,610 |
| 20 | Corpus Christi | $1,572 |
| 21 | El Paso | $1,568 |
| 22 | McKinney | $1,561 |
| 23 | Abilene | $1,545 |
| 24 | Waco | $1,537 |
| 25 | Killeen | $1,518 |
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Rate information is comparative as the specific geographic location can impact coverage prices substantially.
Finding out which company has the cheapest car insurance rates for young drivers will take more work in order to find the best price. Every car insurance company has a unique approach for filing rates in each state, so let’s take a look at the car insurance companies with the overall cheapest rates in Corpus Christi, TX.
It’s important that you understand Corpus Christi car insurance rates are determined by lots of factors that can increase the policy price. Simply having another birthday, moving to a new city, or getting into an accident can produce rate changes that can cause some rates to be cheaper in comparison to the competition.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,021 |
| 2 | USAA | $1,117 |
| 3 | Texas Farm Bureau | $1,235 |
| 4 | Germania Mutual | $1,244 |
| 5 | Esurance | $1,365 |
| 6 | California Casualty | $1,382 |
| 7 | Mercury | $1,461 |
| 8 | State Farm | $1,495 |
| 9 | Safe Auto | $1,549 |
| 10 | Nationwide | $1,585 |
| 11 | Progressive | $1,698 |
| 12 | Allstate | $1,701 |
| 13 | Amica | $1,757 |
| 14 | Home State | $2,071 |
| 15 | GEICO | $2,093 |
| 16 | MetLife | $2,161 |
| 17 | Unitrin | $2,241 |
| 18 | Encompass | $2,301 |
| 19 | 21st Century | $2,469 |
| 20 | Titan | $2,646 |
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Travelers offers some of the most affordable car insurance rates in Corpus Christi at around $1,021 per year. This is $883 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also some of the best Corpus Christi, TX auto insurance companies.
In the above rates, if you are a policyholder with Texas Farm Bureau and switched to Travelers, you might achieve a yearly price reduction of approximately $214. Policyholders with Germania Mutual may save as much as $223 a year, and Esurance policyholders might lower prices by up to $344 a year.
Understand that those policy rates are averaged across all types of insureds and vehicles and do not factor in an exact vehicle garaging location for young drivers. So the car insurance company that has the cheapest rates for you may not even be in the list above. That is why you need to get rate quotes using your own personal information and vehicle type.
The information below shows how choosing a deductible can change annual premium costs when getting quotes for cheap insurance for young drivers. The data is based on a single male driver, full physical damage coverage, and no discounts are applied to the premium.
The chart above illustrates that a 30-year-old driver could lower their policy premium by $422 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $634 by switching to a $1,000 deductible. Even younger drivers, like the Age 20 chart data, have the ability to save up to $1,236 each year by using higher deductibles when buying full coverage. When raising deductibles, it will be required to have enough savings set aside to allow you to cover the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Careless driving habits raise car insurance rates
The ideal way to earn low car insurance premiums for youthful drivers is to be an attentive driver and have a clean driving record. The example below illustrates how violations and accidents raise premium costs for each age group. The costs are based on a single female driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.
The chart shows that the average cost of car insurance per year with no violations or accidents is $1,899. Factor in two speeding tickets and the average cost hikes up to $2,549, an increase of $650 each year. Then include one accident along with the two speeding tickets and the yearly cost of car insurance for young drivers increases to an average of $3,196. That’s an increase of $1,297, or $108 per month, just for being a careless driver!
Full coverage rates vs. liability-only in Corpus Christi
Paying less for car insurance is important to most people, and a great way to pay lower rates for insurance for young drivers is to only buy liability insurance. The example below shows the difference between insurance costs when comparing full coverage to liability only. The price estimates are based on a clean driving record, no claims, $250 deductibles, drivers are not married, and no policy discounts are applied.
If all age groups are averaged, full coverage costs $2,671 per year over and above liability coverage. That touches on the question if buying full coverage is a good investment. There is no definitive rule to drop comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of your full coverage insurance is more than around 10% of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
For example, let’s say your vehicle’s book value is $5,500 and you have $1,000 deductibles. If your vehicle is totaled, the most you would get paid by your company is $4,500 after the deductible is paid. If it’s costing in excess of $450 annually for physical damage coverage, then it could be time to drop full coverage.
There are some situations where only buying liability is not a good plan. If you still owe a portion of the original loan, you have to carry full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not buy liability only.