Who Has the Cheapest Greensboro Car Insurance Rates for 17 Year Olds?

For teen drivers, one of the largest factors that are used to help calculate the price you pay for insurance is your address. Regions with more people or even just more weather-related claims likely pay more, whereas more rural areas benefit from having to pay less for coverage.

The next table shows the priciest cities in North Carolina for 17 year olds to purchase car insurance in. Greensboro ranks #6 with an annual premium of $786 for the average insured, which is about $66 each month.

Rate quotes are approximated as the specific area where the vehicle is garaged can revise prices greatly.

The make and model of vehicle you are insuring is probably the biggest factor when looking for low-cost auto insurance for 17 year olds. Vehicles with high performance, poor safety ratings, or a high likelihood of having liability claims will cost much more to insure than safer models. The next table showcases auto insurance prices for some of the most cost-effective vehicles to buy coverage for.

Cost estimates assume single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, and claim-free. Information does not factor in garaging location in Greensboro, NC which can revise insurance rates considerably.

Based upon the rates shown, you can presume that vehicles like the Honda CR-V, Ford Escape, and Hyundai Elantra are some of the cheaper vehicles to insure for teen drivers. Rates will tend to be higher just because there is more claim risk for 17 year olds, but overall those particular models will have the cheapest rates available.

Deciding which companies offer the best insurance rates for 17 year olds will require a little more work than just getting one or two price quotes. Each insurance company uses a little different formula for determining rates, so we’ll take a look at the insurance companies that tend to have lower prices in Greensboro, NC.

It’s important that readers know that North Carolina insurance rates are calculated based on many things which can substantially decrease or increase the cost of your policy. Getting older, having a claim, or getting a ticket for running a stop sign can trigger rate changes that can make some companies more affordable than before.

Cheap Insurance Rates for Teens

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Progressive offers some of the most affordable car insurance rates in Greensboro at around $639 annually. Utica National, GEICO, Liberty Mutual, and NC Farm Bureau also rank well as some of the best Greensboro, NC car insurance companies.

As shown in the rates above, if you currently buy coverage from Liberty Mutual and switched to Progressive, you could realize a yearly savings of roughly $82. North Carolina drivers with NC Farm Bureau may save as much as $98 a year, and Penn National policyholders might reduce rates by $108 a year.

It’s important to note that these premium estimates are averaged for all types of insureds and vehicles and do not take into consideration an exact location for 17 year olds. So the auto insurance company that is best suited for you may not even be in the top 20 companies in the list above. That’s why you need to compare rates from as many companies as possible using your own personal information and vehicle type.

Drive responsibly or pay higher rates

In a perfect world, the ideal way to find good insurance premiums in North Carolina for teen drivers is to drive cautiously and not receive tickets or have accidents. The diagram below demonstrates how traffic citations and at-fault fender-benders raise premium costs for different categories of driver ages. The rate quotes are based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no other discounts are factored in.

The data charted above shows the average cost of a car insurance policy in Greensboro per year with no accidents or violations is $1,053. Add in two speeding tickets and the average cost hikes up to $1,383, an increase of $330 each year. Next add two accidents along with the two speeding tickets and the yearly cost of insurance for 17 year olds increases to an average of $2,763. That’s an increase of $1,711, or $143 per month, just for not keeping your driving record clean!

Ratings for North Carolina insurance companies

Ending up with the right auto insurance company can be a challenge considering how many companies there are in Greensboro. The rank data in the lists below could help you select which car insurance providers you want to consider when trying find the best insurance for 17 year olds. The ratings below are for the largest companies in America, so companies that have a smaller presence will not be included in these rankings.

Top 10 Major Auto Insurance Providers Overall in Greensboro

1. Travelers
2. USAA
3. AAA Insurance
4. Nationwide
5. Allstate
6. State Farm
7. The Hartford
8. Safeco Insurance
9. Progressive
10. American Family

Top 10 Major Auto Insurance Providers in Greensboro Ranked by Customer Service

1. USAA
2. Travelers
3. AAA Insurance
4. Nationwide
5. Safeco Insurance
6. Progressive
7. State Farm
8. The Hartford
9. The General
10. Esurance

Full coverage versus liability only rates

Paying a lower price for insurance is the goal of the majority of vehicle owners, and one way to lower the cost of insurance for 17 year olds is to only pay for liability coverage. The illustration below shows the difference between insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rate quotes are based on no accidents or driving violations, $1,000 deductibles, marital status is single, and no discounts are applied.

On average, physical damage insurance costs an additional $1,401 per year more than carrying just liability coverage. That is a large expense which might make you wonder if it’s a good idea to buy full coverage. There is no set guideline to exclude comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.

There are some scenarios where dropping physical damage coverage is not financially feasible. If you still owe money on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not remove full coverage.