Updated: October 25, 2024
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The Chevrolet Corvette has the cheapest insurance rates for 16-year-olds, while 17-, 18- and 19-year-old drivers can enjoy lower premiums with the MINI Cooper.
To keep insurance costs down, it's better to have teen drivers use an older SUV rather than allowing them to drive sports cars or luxury vehicles. Unless 18- and 19-year-olds move out of the family home permanently and drive their own cars, they should stay on the family policy to maintain affordable coverage.
Cheapest Cars to Insure for Teenagers 2024Cheapest Cars to Insure for Teenagers 2024
When insuring teenage drivers, the choice of car can significantly impact insurance rates. Opt for safer, older and more practical vehicles to keep premiums affordable.
Unless 18- and 19-year-olds move out and drive their own cars, staying on their family's insurance policy is the most cost-effective way to maintain coverage.
To lower the cost of insuring teen drivers, regularly compare insurance rates, encourage safe driving habits, and take advantage of available discounts such as good student, defensive driving and low mileage discounts.
Why Trust MoneyGeek? We ensure that MoneyGeek's content meets our highest editorial standards by carefully scrutinizing it. Throughout each stage, our team writes, checks facts, edits and reviews the content produced to generate accurate information.
The Chevrolet Corvette and MINI Cooper rank as the cheapest cars for 16-year-olds to insure under a state minimum policy. Here are the annual rates:
These rates are based on an individual policy across national insurance providers, which can vary due to multiple factors. Remember that 16-year-olds cannot buy their own insurance policies, so parents are responsible for adding them to the family policy. This arrangement often results in lower costs compared with individual policies for teenagers.
To determine the cost of a full coverage policy, use the filter option in the table below. This will provide a more comprehensive understanding of the rates applicable to different coverage levels.
| Chevrolet Corvette | $2,303 |
| MINI Cooper | $2,305 |
| Subaru Forester | $2,532 |
| MINI Electric | $2,550 |
| Subaru Outback | $2,575 |
| Mercedes C-Class | $2,599 |
| Mazda CX-5 | $2,618 |
| Chevrolet Camaro ZL1 | $2,638 |
| Chevrolet Camaro SS | $2,669 |
| Honda Odyssey | $2,672 |
| Honda Pilot | $2,673 |
| Ford Mustang Mach E | $2,679 |
| Audi Q5 | $2,691 |
| BMW 4 Series | $2,709 |
| Subaru Impreza | $2,729 |
| Toyota Sienna | $2,741 |
| Audi A4 | $2,750 |
| Subaru Legacy | $2,751 |
| BMW 7 Series | $2,754 |
| Honda Ridgeline | $2,761 |
| VW Tiguan | $2,761 |
| Ford Mustang Ecoboost | $2,766 |
| Honda CR-V | $2,773 |
| VW Golf | $2,783 |
| Audi Q7 | $2,785 |
| Volvo XC40 | $2,787 |
| BMW 1 Series | $2,803 |
| Hyundai Kona | $2,809 |
| VW ID.4 | $2,823 |
| Acura MDX | $2,824 |
| Kia Niro | $2,827 |
| Subaru BRZ | $2,828 |
| Ford Mustang | $2,834 |
| Honda Passport | $2,837 |
| Toyota RAV4 | $2,842 |
| Honda Accord | $2,843 |
| Mercedes CLA 250 | $2,851 |
| Toyota Prius | $2,854 |
| Tesla Model 3 | $2,861 |
| Mercedes GLA 250 | $2,872 |
| Subaru WRX | $2,874 |
| Toyota Highlander | $2,875 |
| Nissan LEAF | $2,875 |
| Honda HR-V | $2,876 |
| Honda Insight | $2,877 |
| BMW X3 | $2,883 |
| VW Jetta | $2,885 |
| Chevrolet Camaro | $2,889 |
| BMW X5 | $2,890 |
| BMW 3 Series | $2,891 |
| BMW 5 Series | $2,891 |
| Chevy Equinox | $2,897 |
| Ford Escape | $2,903 |
| Ford Expedition | $2,903 |
| Toyota Camry | $2,906 |
| VW Passat | $2,909 |
| Ford Explorer | $2,916 |
| Ford F-150 | $2,919 |
| Hyundai Ioniq | $2,923 |
| Kia Soul | $2,924 |
| Chevy Tahoe | $2,925 |
| Jeep Wrangler | $2,936 |
| Audi A3 | $2,937 |
| Audi E Tron | $2,938 |
| Jeep Gladiator | $2,947 |
| Tesla Model Y | $2,954 |
| Mazda3 | $2,956 |
| Kia Stinger | $2,966 |
| Nissan Rogue | $2,971 |
| Dodge Challenger SRT Hellcat | $2,975 |
| Honda Civic | $2,981 |
| Toyota Tundra | $2,982 |
| Chevy Bolt | $3,003 |
| Toyota Tacoma | $3,004 |
| Nissan Maxima | $3,017 |
| Dodge Challenger R/T | $3,027 |
| Nissan Versa | $3,038 |
| Toyota Corolla | $3,053 |
| Chevy Silverado | $3,056 |
| Ram Rebel | $3,084 |
| Nissan Altima | $3,096 |
| Nissan Pathfinder | $3,103 |
| Jeep Cherokee | $3,109 |
| Nissan Frontier | $3,118 |
| Chevy Malibu | $3,155 |
| Jeep Grand Cherokee | $3,172 |
| Nissan Sentra | $3,176 |
| Ram 2500 | $3,187 |
| Hyundai Elantra | $3,277 |
| Dodge Challenger | $3,289 |
| Dodge Charger | $3,348 |
| Porsche Taycan | $3,602 |
| Tesla Model X | $3,771 |
| Tesla Model S | $3,803 |
| BMW X7 | $3,992 |
| Audi R8 | $4,487 |
Added to a Family Policy:
$3,371 per year for a full coverage policy
On an Individual Policy:
$5,318 per year for a full coverage policy
When it comes to finding cost-effective car insurance for 16-year-olds, some companies offer more competitive rates for minimum coverage. Here are three makes and models with their most affordable providers:
Securing the right car insurance is important for any driver, especially young ones. Always compare quotes from at least three different insurers to ensure you're getting the best deal available for your specific needs and circumstances.
| State Farm | $1,497 |
| Travelers | $1,716 |
| GEICO | $1,962 |
| Nationwide | $2,055 |
| Allstate | $2,756 |
| Farmers | $3,062 |
| Progressive | $3,311 |
With basic coverage, the MINI Copper and Chevrolet Corvette are the cheapest for 17-year-olds to insure:
In many states, 17-year-olds can drive without supervision and have young passengers, but this can increase the risk of a car accident, according to the Centers for Disease Control and Prevention (CDC). Completing safe driving courses teaches good habits and can lead to rewards. Over time, practicing safe driving may qualify them for accident-free discounts.
| MINI Cooper | $1,867 |
| Chevrolet Corvette | $1,887 |
| Subaru Forester | $2,040 |
| MINI Electric | $2,064 |
| Subaru Outback | $2,088 |
| Mazda CX-5 | $2,115 |
| Mercedes C-Class | $2,123 |
| Honda Pilot | $2,156 |
| Chevrolet Camaro ZL1 | $2,159 |
| Honda Odyssey | $2,167 |
| Ford Mustang Mach E | $2,176 |
| Audi Q5 | $2,177 |
| Chevrolet Camaro SS | $2,202 |
| Subaru Impreza | $2,208 |
| Toyota Sienna | $2,216 |
| BMW 4 Series | $2,220 |
| Subaru Legacy | $2,223 |
| Honda Ridgeline | $2,227 |
| VW Tiguan | $2,230 |
| Honda CR-V | $2,238 |
| Audi A4 | $2,241 |
| Audi Q7 | $2,245 |
| BMW 7 Series | $2,248 |
| VW Golf | $2,260 |
| Volvo XC40 | $2,265 |
| VW ID.4 | $2,268 |
| Ford Mustang Ecoboost | $2,268 |
| Hyundai Kona | $2,280 |
| BMW 1 Series | $2,287 |
| Kia Niro | $2,292 |
| Honda Accord | $2,300 |
| Acura MDX | $2,300 |
| Toyota RAV4 | $2,302 |
| Honda Passport | $2,304 |
| Subaru BRZ | $2,307 |
| Toyota Prius | $2,315 |
| Ford Mustang | $2,319 |
| Mercedes CLA 250 | $2,321 |
| Toyota Highlander | $2,323 |
| Honda HR-V | $2,326 |
| Mercedes GLA 250 | $2,333 |
| BMW X3 | $2,334 |
| Tesla Model 3 | $2,338 |
| Honda Insight | $2,339 |
| BMW X5 | $2,344 |
| Chevy Equinox | $2,350 |
| VW Jetta | $2,350 |
| Ford Expedition | $2,352 |
| Ford Escape | $2,355 |
| BMW 5 Series | $2,356 |
| VW Passat | $2,356 |
| Subaru WRX | $2,357 |
| Toyota Camry | $2,359 |
| Nissan LEAF | $2,359 |
| Audi E Tron | $2,360 |
| Chevrolet Camaro | $2,363 |
| BMW 3 Series | $2,365 |
| Ford Explorer | $2,369 |
| Ford F-150 | $2,376 |
| Chevy Tahoe | $2,377 |
| Kia Soul | $2,381 |
| Audi A3 | $2,381 |
| Jeep Wrangler | $2,392 |
| Jeep Gladiator | $2,392 |
| Hyundai Ioniq | $2,392 |
| Mazda3 | $2,395 |
| Nissan Rogue | $2,409 |
| Kia Stinger | $2,411 |
| Toyota Tundra | $2,413 |
| Honda Civic | $2,416 |
| Tesla Model Y | $2,423 |
| Toyota Tacoma | $2,433 |
| Dodge Challenger SRT Hellcat | $2,453 |
| Nissan Maxima | $2,460 |
| Nissan Versa | $2,461 |
| Chevy Bolt | $2,466 |
| Chevy Silverado | $2,473 |
| Toyota Corolla | $2,480 |
| Dodge Challenger R/T | $2,480 |
| Ram Rebel | $2,497 |
| Nissan Altima | $2,512 |
| Nissan Pathfinder | $2,515 |
| Nissan Frontier | $2,522 |
| Jeep Cherokee | $2,524 |
| Jeep Grand Cherokee | $2,562 |
| Chevy Malibu | $2,565 |
| Nissan Sentra | $2,580 |
| Ram 2500 | $2,592 |
| Hyundai Elantra | $2,656 |
| Dodge Challenger | $2,688 |
| Dodge Charger | $2,739 |
| Porsche Taycan | $2,828 |
| Tesla Model X | $2,974 |
| Tesla Model S | $2,994 |
| BMW X7 | $3,340 |
| Audi R8 | $3,662 |
Added to a Family Policy:
$3,139 per year for a full coverage policy
On an Individual Policy:
$4,621 per year for a full coverage policy
To find the cheapest car insurance for 17-year-old drivers, MoneyGeek has analyzed the costs for different makes and models. Below are the most affordable companies offering minimum coverage car insurance for a Chevrolet Corvette, MINI Cooper and Subaru Forester.
Adding a 17-year-old driver to a family policy remains a cost-effective approach to secure lower insurance premiums while still providing essential coverage. Keep in mind that minimum coverage car insurance offers the most affordable rates, but full coverage car insurance may be worth considering for more comprehensive protection.
| Travelers | $1,295 |
| State Farm | $1,317 |
| GEICO | $1,525 |
| Nationwide | $1,873 |
| Allstate | $2,225 |
| Farmers | $2,270 |
| Progressive | $3,220 |
The MINI Cooper and Chevrolet Corvette are the cheapest to cover with basic state-minimum insurance for 18-year-olds:
While 18-year-olds have the option to purchase their own car insurance policies, staying on their parents' car insurance policy can often lead to cost savings, as long as they haven't permanently moved out.
| MINI Cooper | $1,619 |
| Chevrolet Corvette | $1,644 |
| Subaru Forester | $1,770 |
| MINI Electric | $1,791 |
| Subaru Outback | $1,809 |
| Mazda CX-5 | $1,834 |
| Mercedes C-Class | $1,851 |
| Honda Pilot | $1,867 |
| Honda Odyssey | $1,884 |
| Chevrolet Camaro ZL1 | $1,885 |
| Ford Mustang Mach E | $1,896 |
| Audi Q5 | $1,898 |
| Chevrolet Camaro SS | $1,918 |
| Subaru Impreza | $1,922 |
| Toyota Sienna | $1,927 |
| Subaru Legacy | $1,928 |
| Honda Ridgeline | $1,934 |
| BMW 4 Series | $1,934 |
| VW Tiguan | $1,938 |
| Honda CR-V | $1,943 |
| Audi A4 | $1,956 |
| BMW 7 Series | $1,958 |
| Audi Q7 | $1,961 |
| VW Golf | $1,964 |
| Ford Mustang Ecoboost | $1,972 |
| VW ID.4 | $1,977 |
| Volvo XC40 | $1,981 |
| Hyundai Kona | $1,987 |
| Kia Niro | $1,991 |
| BMW 1 Series | $1,991 |
| Honda Accord | $2,003 |
| Honda Passport | $2,003 |
| Toyota RAV4 | $2,003 |
| Acura MDX | $2,005 |
| Toyota Prius | $2,012 |
| Subaru BRZ | $2,013 |
| Toyota Highlander | $2,019 |
| Honda HR-V | $2,027 |
| Ford Mustang | $2,028 |
| Mercedes CLA 250 | $2,029 |
| Ford Expedition | $2,036 |
| Honda Insight | $2,038 |
| BMW X3 | $2,039 |
| Tesla Model 3 | $2,041 |
| VW Jetta | $2,041 |
| Mercedes GLA 250 | $2,042 |
| BMW X5 | $2,044 |
| Chevy Equinox | $2,044 |
| Ford Escape | $2,046 |
| VW Passat | $2,049 |
| Ford Explorer | $2,055 |
| Nissan LEAF | $2,055 |
| BMW 5 Series | $2,056 |
| Subaru WRX | $2,057 |
| Toyota Camry | $2,057 |
| Chevy Tahoe | $2,062 |
| Chevrolet Camaro | $2,064 |
| BMW 3 Series | $2,066 |
| Audi E Tron | $2,069 |
| Ford F-150 | $2,071 |
| Kia Soul | $2,071 |
| Jeep Gladiator | $2,076 |
| Hyundai Ioniq | $2,077 |
| Jeep Wrangler | $2,082 |
| Audi A3 | $2,083 |
| Mazda3 | $2,084 |
| Kia Stinger | $2,095 |
| Nissan Rogue | $2,096 |
| Toyota Tundra | $2,099 |
| Honda Civic | $2,108 |
| Tesla Model Y | $2,114 |
| Toyota Tacoma | $2,122 |
| Dodge Challenger SRT Hellcat | $2,134 |
| Nissan Maxima | $2,141 |
| Nissan Versa | $2,143 |
| Chevy Bolt | $2,153 |
| Chevy Silverado | $2,160 |
| Toyota Corolla | $2,160 |
| Dodge Challenger R/T | $2,168 |
| Ram Rebel | $2,172 |
| Nissan Pathfinder | $2,188 |
| Nissan Altima | $2,189 |
| Jeep Cherokee | $2,196 |
| Nissan Frontier | $2,197 |
| Jeep Grand Cherokee | $2,230 |
| Chevy Malibu | $2,234 |
| Nissan Sentra | $2,247 |
| Ram 2500 | $2,256 |
| Hyundai Elantra | $2,321 |
| Dodge Challenger | $2,347 |
| Dodge Charger | $2,397 |
| Porsche Taycan | $2,526 |
| Tesla Model X | $2,643 |
| Tesla Model S | $2,669 |
| BMW X7 | $2,980 |
| Audi R8 | $3,308 |
Added to a Family Policy:
$2,867 per year for a full coverage policy
On an Individual Policy:
$3,997 per year for a full coverage policy
Finding the cheapest car insurance for 18-year-olds requires thorough research. MoneyGeek has analyzed the premiums to help you save on minimum coverage car insurance. Below are the most affordable companies for popular models:
At age 18, a driver has likely gained more driving experience, which might lead to modest savings on insurance premiums. Still, expect rates to remain high compared to more mature drivers. With many 18-year-olds starting college, distant student discounts may also be available. Always compare varying minimum and full coverage car insurance options and consider the vehicle type to discover the most economical choices for your insurance needs.
| Travelers | $1,065 |
| State Farm | $1,171 |
| GEICO | $1,268 |
| Allstate | $1,748 |
| Nationwide | $1,754 |
| Farmers | $2,125 |
| Progressive | $2,699 |
Drivers who are 19 years old will find MINI Coopers or Chevrolet Corvettes the cheapest to insure:
If you own a sports car, you can list them as an excluded driver to prevent premium increases. However, emphasize that they should never drive your car, because your insurer won't cover them in case of an accident.
| MINI Cooper | $1,128 |
| Chevrolet Corvette | $1,131 |
| Subaru Forester | $1,221 |
| MINI Electric | $1,236 |
| Subaru Outback | $1,245 |
| Mazda CX-5 | $1,261 |
| Honda Pilot | $1,288 |
| Mercedes C-Class | $1,289 |
| Chevrolet Camaro ZL1 | $1,299 |
| Honda Odyssey | $1,301 |
| Ford Mustang Mach E | $1,310 |
| Audi Q5 | $1,310 |
| Subaru Impreza | $1,326 |
| Chevrolet Camaro SS | $1,326 |
| Toyota Sienna | $1,327 |
| Honda Ridgeline | $1,327 |
| Subaru Legacy | $1,330 |
| BMW 4 Series | $1,335 |
| Honda CR-V | $1,336 |
| BMW 7 Series | $1,341 |
| VW Tiguan | $1,343 |
| VW Golf | $1,346 |
| Audi A4 | $1,346 |
| Ford Mustang Ecoboost | $1,356 |
| BMW 1 Series | $1,359 |
| Audi Q7 | $1,361 |
| Hyundai Kona | $1,362 |
| VW ID.4 | $1,366 |
| Honda Passport | $1,368 |
| Acura MDX | $1,370 |
| Kia Niro | $1,371 |
| Toyota RAV4 | $1,372 |
| Volvo XC40 | $1,372 |
| Honda Accord | $1,375 |
| Toyota Highlander | $1,379 |
| Toyota Prius | $1,381 |
| Subaru BRZ | $1,387 |
| Ford Expedition | $1,394 |
| Mercedes CLA 250 | $1,394 |
| Honda Insight | $1,400 |
| Ford Mustang | $1,401 |
| BMW X5 | $1,401 |
| BMW X3 | $1,403 |
| Honda HR-V | $1,404 |
| Tesla Model 3 | $1,404 |
| Chevy Equinox | $1,405 |
| Nissan LEAF | $1,408 |
| Mercedes GLA 250 | $1,408 |
| Toyota Camry | $1,409 |
| BMW 5 Series | $1,409 |
| VW Jetta | $1,411 |
| Subaru WRX | $1,411 |
| Ford Explorer | $1,411 |
| Ford Escape | $1,412 |
| BMW 3 Series | $1,412 |
| VW Passat | $1,413 |
| Chevy Tahoe | $1,416 |
| Kia Soul | $1,425 |
| Chevrolet Camaro | $1,430 |
| Ford F-150 | $1,430 |
| Jeep Gladiator | $1,431 |
| Mazda3 | $1,433 |
| Audi E Tron | $1,434 |
| Kia Stinger | $1,435 |
| Hyundai Ioniq | $1,436 |
| Toyota Tundra | $1,437 |
| Nissan Rogue | $1,440 |
| Audi A3 | $1,442 |
| Jeep Wrangler | $1,444 |
| Tesla Model Y | $1,446 |
| Honda Civic | $1,449 |
| Toyota Tacoma | $1,457 |
| Dodge Challenger SRT Hellcat | $1,462 |
| Nissan Maxima | $1,466 |
| Nissan Versa | $1,473 |
| Chevy Bolt | $1,477 |
| Toyota Corolla | $1,480 |
| Dodge Challenger R/T | $1,492 |
| Chevy Silverado | $1,495 |
| Nissan Pathfinder | $1,497 |
| Ram Rebel | $1,497 |
| Nissan Altima | $1,501 |
| Nissan Frontier | $1,510 |
| Jeep Cherokee | $1,512 |
| Jeep Grand Cherokee | $1,533 |
| Chevy Malibu | $1,538 |
| Nissan Sentra | $1,538 |
| Ram 2500 | $1,557 |
| Hyundai Elantra | $1,597 |
| Dodge Challenger | $1,616 |
| Dodge Charger | $1,647 |
| Porsche Taycan | $1,738 |
| Tesla Model X | $1,823 |
| Tesla Model S | $1,837 |
| BMW X7 | $2,107 |
| Audi R8 | $2,334 |
Here are the cheapest insurers for each vehicle under minimum coverage:
Car insurance premiums for 19-year-olds tend to be higher than for more experienced drivers, though they are generally lower than 16- to 19-year-old teen drivers. To control costs, consider taking advantage of good student discounts, choosing safe and sensible vehicles and maintaining a clean driving record. These strategies can help 19-year-olds secure more affordable coverage during this transitional insurance period.
| Travelers | $839 |
| GEICO | $917 |
| State Farm | $986 |
| Allstate | $1,182 |
| Nationwide | $1,350 |
| Farmers | $1,366 |
| Progressive | $1,505 |
Insurance companies consider the risk associated with the vehicle a teen drives. Opting for a safe and affordable car with a good safety record can reduce the likelihood of accidents and claims, which, in turn, leads to lower insurance premiums for teen drivers.
Some insurers let you assign a car to each driver on the policy, and assigning an older or safer car to your teen can reduce their insurance cost.
Car safety ratings, theft risk and the vehicle's age are key determinants of insurance costs. Higher safety ratings and lower theft risks generally lead to more affordable premiums, while a car's age can impact its insurance rate due to value and safety features.
Choose the right vehicle size
Larger vehicles like SUVs may have higher premiums despite seeming safer, while smaller cars, though initially cheaper, might be more prone to theft and severe damage, affecting insurance costs.
Assess theft probability
Research and discuss with your teen which car makes and models are more likely to be targeted by thieves. Choosing a less theft-prone vehicle can help keep insurance rates lower.
Evaluate repair costs
Cars with special features and customizations or those that are made abroad can be more expensive to repair, leading to higher insurance premiums.
Prioritize safety features and ratings
Newer cars, though sometimes more expensive, often come with advanced safety features that not only enhance safety but can also reduce insurance costs. Aim for cars with high safety ratings, because they may be less expensive to insure.
Balance age and safety
While brand new cars might be tempting, slightly older models can offer a good balance of safety features and lower insurance costs.
Go for practical over flashy
Guide your teen towards more practical, less sporty vehicles. Cars with smaller engines and no high-performance features are usually much cheaper to insure.
Check for insurance discounts
Cars with anti-theft devices and other safety features might qualify for insurance discounts. This can be a key factor in reducing insurance costs.
Location matters
Your living area can affect insurance costs. Choose a car that suits your local climate and driving conditions, because it can be more cost-effective to insure.
Consider overall costs
Look beyond just insurance costs. Factor in fuel efficiency, maintenance and repairs to gauge the total cost of owning the car.
Shopping around for the best car insurance rates, selecting a safe and budget-friendly car and maximizing available discounts can significantly lower the overall expense of adding a teen to your policy.
Regularly shop around compare rates
Consistently compare insurance offers, because rates often vary between providers. Teens with a clean driving record and an affordable car typically enjoy lower rates over time.
Add your teen to your policy
Generally, it's cheaper to add a teen driver to an existing family policy than to purchase a separate policy for them.
Encourage safe driving habits
Insurers often offer discounts for a clean driving record, and some have specific programs that monitor driving behavior to offer lower rates for safe driving.
Choose the right car
Opt for a vehicle with a good safety record, modest engine size and low theft risk. These factors can significantly reduce insurance premiums.
Increase the deductible
Consider choosing a higher deductible to lower the premium. Ensure it's an amount you're comfortable with in case of an accident.
Bundle policies
If you have multiple insurance policies with the same company, bundling them can often lead to discounts.
Limit the coverage
For older, less valuable cars, consider reducing coverage levels. For instance, you might opt for liability coverage only.
Monitor and limit mileage
Lower annual mileage can lead to lower insurance rates. Encourage your teen to use the car judiciously.
Explore usage-based insurance
Some insurers offer usage-based insurance programs that track driving habits and mileage, potentially offering lower rates for less frequent or safer drivers.
Look for teen-specific discounts
Many insurance companies offer car insurance discounts for teens who maintain good grades or complete an accredited driver's education course.
Read more on car insurance discounts for teen drivers here.
In this FAQ section, we'll simplify how to find the cheapest cars to insure for teenagers. Whether you're a seasoned driver or just starting out, our aim is to help you make informed decisions about your coverage.
The Chevrolet Corvette stands out as the most affordable car to insure for 16-year-olds at $2,303 per year for state minimum liability coverage.
For 18-year-olds, the MINI Cooper offers the cheapest insurance rate at $1,619 per year.
In general, smaller and less powerful vehicles tend to be the cheapest cars to insure, because they are often associated with lower accident risks and repair costs. However, specific insurance rates can vary based on various factors, including the driver's age, location and driving history.
A clean driving record helps lower car insurance costs, especially into your 60s, but premiums may rise after 65 as insurers often view older drivers as riskier. Your car's value, your credit score and your state's specific insurance regulations and road conditions also significantly impact your rates. Consider these factors together to get a comprehensive view of your insurance expenses.
Contrary to popular belief, the color of a car does not impact insurance rates. Insurance companies determine premiums based on factors like the car's make, model, age, engine size and the driver's age and driving history, but not its color. Myths about red cars being more expensive to insure are unfounded. The focus is more on the likelihood of accidents, theft and the car's overall safety, rather than its aesthetic appeal.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
