It’s hard to miss the captivating commercials from companies like GEICO and Liberty Mutual guaranteeing enormous savings. So drivers just need to choose the one with the best commercial, right?
It’s not quite that easy, unfortunately, as there are a whole bunch of unknown factors like your financial stability, your age, and the crash test ratings of your vehicle. In this article, we will teach you about the best ways to avoid paying too much and hopefully give you enough understanding to have a good start to your coverage search.
For teen drivers, one of the more important factors that aid in calculating car insurance rates is the neighborhood you call home in Boston. Cities with larger populations will most likely pay more, whereas areas with less crime or weather claims benefit from having to pay less for coverage.
The information below lists the most expensive areas in Massachusetts for teenagers to buy auto insurance in. Boston makes the list at #7 with a yearly cost of $1,788 for car insurance, which is around $149 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Revere | $2,148 |
| 2 | Brockton | $2,122 |
| 3 | Lynn | $1,998 |
| 4 | Springfield | $1,908 |
| 5 | Lawrence | $1,896 |
| 6 | Malden | $1,860 |
| 7 | Boston | $1,788 |
| 8 | New Bedford | $1,698 |
| 9 | Worcester | $1,678 |
| 10 | Fall River | $1,666 |
| 11 | Somerville | $1,648 |
| 12 | Medford | $1,622 |
| 13 | Quincy | $1,581 |
| 14 | Lowell | $1,511 |
| 15 | Cambridge | $1,506 |
| 16 | Chicopee | $1,500 |
| 17 | Haverhill | $1,468 |
| 18 | Weymouth | $1,461 |
| 19 | Brookline | $1,442 |
| 20 | Taunton | $1,440 |
| 21 | Framingham | $1,432 |
| 22 | Peabody | $1,420 |
| 23 | Newton | $1,364 |
| 24 | Methuen | $1,348 |
| 25 | Waltham | $1,341 |
| Quote Best Rates Go | ||
Annual rates are approximated as zip code location can revise auto insurance rates considerably.
Figuring out which companies have the cheapest auto insurance rates for teenagers requires a little more sweat than just comparing rates from one or two companies.
Every insurance provider has a proprietary formula to set their prices, so let’s examine the auto insurance companies with the overall best prices in Boston, MA.
Lowest Insurance Price Quotes for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | State Farm | $733 |
| 2 | National Grange Mutual | $799 |
| 3 | GEICO | $868 |
| 4 | OneBeacon | $876 |
| 5 | Commerce Group | $911 |
| 6 | Progressive | $999 |
| 7 | Arbella | $1,030 |
| 8 | Norfolk and Dedham | $1,036 |
| 9 | USAA | $1,044 |
| 10 | Amica | $1,131 |
| 11 | Quincy Mutual | $1,281 |
| 12 | Vermont Mutual | $1,336 |
| 13 | Travelers | $1,349 |
| 14 | Safety Group | $1,366 |
| 15 | Hanover | $1,399 |
| 16 | MetLife | $1,439 |
| 17 | Peerless | $1,442 |
| 18 | Plymouth Rock | $1,603 |
| 19 | Allstate | $1,791 |
| 20 | Liberty Mutual | $1,806 |
| Get Personalized Rates Go | ||
State Farm may offer some of the lowest car insurance rates in Boston at around $733 each year. National Grange Mutual, GEICO, OneBeacon, and Commerce Group would also make the list of some of the cheapest Boston, MA auto insurance companies.
As illustrated above, if you are a policyholder with OneBeacon and switched to State Farm, you may see annual savings of approximately $143. Policyholders with Commerce Group may save as much as $178 a year, and Progressive insureds might lower prices by up to $266 a year.
To find out how your current rates compare, click here or visit several of the following companies.
It’s important to note that these premiums are averages for all ages of drivers and types of vehicles and and are not figured with a vehicle location for teenagers. So the car insurance company that is best for you may not even be in the top 21 companies in the list above. That point stresses why you need to get rate quotes from many companies using your own individual information.
The make and model of vehicle that needs insurance is one of the main factors when looking for cheaper auto insurance for teenagers. Vehicles with higher performance, poor safety ratings, or a high likelihood of having liability claims will cost substantially more to insure than more economical and safe models. The next list illustrates auto insurance costs for a selection of the cheaper automobiles to insure in Massachusetts.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $6,500 |
| Honda CR-V LX 2WD | $6,509 |
| Hyundai Elantra SE Touring Station Wagon | $6,958 |
| Toyota Prius | $7,021 |
| Ford Explorer Eddie Bauer 2WD | $7,305 |
| Toyota Tacoma 4WD | $7,311 |
| Ford Focus S 4-Dr Sedan | $7,643 |
| Ford Edge SE AWD | $7,653 |
| Chevrolet Impala LS | $7,643 |
| Chevrolet Malibu Hybrid | $7,703 |
| Jeep Grand Cherokee Laredo 4WD | $7,708 |
| Toyota Camry LE | $7,703 |
| Chevrolet Equinox LS 2WD | $7,709 |
| Toyota RAV4 Sport 2WD | $7,703 |
| Ford F-150 Lariat Crew Cab 2WD | $7,766 |
| Dodge Grand Caravan Crew | $7,772 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $8,094 |
| Toyota Corolla LE | $8,102 |
| Ford Fusion SEL 4-Dr Sedan | $8,165 |
| GMC Sierra SLE Extended Cab 4WD | $8,172 |
| Volkswagen Jetta SEL 4-Dr Sedan | $8,165 |
| Nissan Altima 3.5 SR 4-Dr Sedan | $8,173 |
| Honda Odyssey Touring | $8,165 |
| Start a Quote Go | |
Data based on single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Massachusetts minimum liability limits. Discounts applied include claim-free, and safe-driver. Table data does not factor in specific zip code location which can increase or decrease coverage prices substantially.
By looking at the data, we can assume that models like the Ford Escape, Honda CR-V, and Hyundai Elantra are most likely going to be some of the most budget-friendly vehicles to insure for teen drivers. The cost of a car insurance policy will tend to be more expensive anyway because of the fact that there is more claim risk for teenagers, but generally speaking those models will have the lowest insurance prices compared to other types of vehicles.
Impact of citations and accidents on insurance rates
A great way to find cheap auto insurance prices for teen drivers is to be an attentive driver and avoid at-fault accidents and violations. The information below illustrates how speeding tickets and accident claims can increase insurance costs for different ages of insureds. The prices are based on a married male driver, comp and collision included, $1,000 deductibles, and no discounts are applied to the premium.
The chart shows that the average cost of a car insurance policy in Boston per year with a clean driving record and no accidents is $1,588. Factor in two speeding tickets and the average cost increases to $2,181, an increase of $593 each year. Now add two accidents along with the two speeding tickets and the 12-month cost of auto insurance for teenagers jumps again to an average of $4,677. That’s an increase of $3,089, or $257 per month, just for being a less-than-perfect driver!
Discounts on Boston insurance rates
Insurance providers that offer quotes for teenagers may additionally offer price discounts that could reduce prices by as much as 30% if you meet certain criteria. The best auto insurance companies and the discounts they provide are detailed below.
- State Farm may have discounts that include Drive Safe & Save, Steer Clear safe driver discount, safe vehicle, good student, and multiple autos.
- American Family may include discounts for good student, air bags, multi-vehicle, bundled insurance, and good driver.
- AAA discounts include good driver, good student, AAA membership discount, multi-policy, and multi-car.
- GEICO offers discounts including multi-vehicle, multi-policy, air bags, anti-lock brakes, federal employee, anti-theft, and seat belt use.
- Mercury Insurance offers premium reductions for professional/association, ease of repair, low natural disaster claims, good student, annual mileage, and location of vehicle.
- Farmers Insurance includes discounts for pay in full, multi-car, switch companies, mature driver, and business and professional.
- Progressive offers discounts for good student, online signing, online quote discount, continuous coverage, and multi-vehicle.
The chart below visualizes the comparison of yearly insurance costs with and without some available policy discounts. The price estimates are based on a female driver, no accidents, no driving violations, Massachusetts state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with passive restraint, anti-theft, paid-in-full, continuous coverage, good student, and paperless filing discounts applied. When these discounts are applied, theaverage amount saved on auto insurance for teenagers is 28% or $809.
Does full coverage make sense?
Reducing the cost of auto insurance is important to most drivers, and one common way to save on the cost of insurance for teenagers is to buy only liability coverage. The example below visualizes the comparison of insurance rates when comparing full coverage to liability only. The data assumes no claims or violations, $1,000 deductibles, single status, and no other discounts are factored in.
As an overall average, full coverage on your policy costs $1,404 per year more than just buying liability insurance. Many drivers will wonder if you should buy full coverage. There isn’t a steadfast formula to drop physical damage insurance, but there is a general school of thought. If the annual cost of having full coverage is 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
There are a few situations where dropping physical damage coverage is not recommended. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not drop full coverage.
Don’t stick with an overpriced policy
Massachusetts auto insurance rates are impacted by many things that control the price you pay. Simply turning a year older, having a teen driver, or getting a few speeding tickets can trigger changes in premium resulting in some companies being more affordable than others.
Also, car insurance companies file new Massachusetts auto insurance rates at least once a year in order to offset underwriting gains or losses. Significantly higher losses may result in more expensive premiums, while profitable underwriting can produce cheaper Boston car insurance rates.
To help illustrate this point, the data below shows the cheapest car insurance in Boston, MA for a 35-year-old female driver with a good driving record, no prior claims, and great credit. If we estimate prices based on her personal risk profile, State Farm might offer the best car insurance rates in Boston at $981 a year. This is $254 less than the average price paid by Massachusetts drivers of $1,235. National Grange Mutual, GEICO, OneBeacon, and Commerce Group are the rest of the most affordable Boston, MA auto insurance companies.
Now let’s give the driver from the above example a chargeable claim, poor credit, and an imperfect driving record. Since each insurance company has a different process for determining rates, analyzing rates may now show a slightly different list of affordable companies as shown below.
Arbella now has the lowest price in Boston with USAA, Norfolk and Dedham, Amica, and National Grange Mutual now being in the top five. This shows why it is important to perform an extensive rate comparison to find the cheapest auto insurance quotes for teenagers. Insurance rates are made up of many different factors and can change substantially, so the most economical option six months ago may now not even be in the top five.