What Car Insurance is Cheapest for a 20 Year Old Male in Jacksonville?

Deciphering which companies quote the cheapest auto insurance rates for 20 year old guys will require more time in order to find the best policy. Each auto insurer uses their own calculation to determine premium rates, so let’s examine the most budget-friendly auto insurance companies in Jacksonville.

It’s important that readers know that Florida auto insurance rates are determined by lots of factors that may substantially change the price you have to pay. Simply improving your credit, having a teenage driver, or getting a driving violation may generate price changes that may make certain companies cheaper than before.

Best Auto Insurance Prices for Men Age 20

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USAA may offer some of the lowest car insurance rates in Jacksonville at around $957 annually. This is $1,491 less than the average policy premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers also are some of the more affordable Jacksonville, FL car insurance companies.

In this example, if you are a policyholder with Amica and switched to USAA, you may see savings of about $737. Insureds with Progressive could save as much as $818 a year, and Travelers policyholders might reduce rates by $912 a year.

Understand that those rates are averaged for all drivers and vehicles in Florida and do not factor in an exact vehicle garaging location for 20 year old guys. So the car insurance company that fits your situation best may not even be in the top 21 companies in the list above. That affirms the importance of why you need to get rate quotes from many companies using your own individual information.

The make and model of vehicle you are buying coverage for is probably the largest consideration when trying to find low-priced auto insurance for 20 year old guys. Vehicles with more horsepower, a lack of safety features, or a high likelihood of having liability claims will cost quite a bit more to insure than safer models.

The next table presents auto insurance rates for a handful of the most budget-friendly automobiles to insure.

Cheapest Vehicles to Insure in Jacksonville, FL
Make and Model Estimated Cost for Full Coverage
Ford Escape XLS 2WD $2,891
Honda CR-V LX 4WD $2,898
Jeep Wrangler Sport 4WD 2-Dr $2,958
Toyota Prius $3,194
Ford Explorer Eddie Bauer 2WD $3,215
Honda Odyssey EX $3,389
Toyota Camry LE $3,432
Nissan Altima 2.5 4-Dr Sedan $3,439
Jeep Grand Cherokee Laredo 2WD $3,432
Toyota RAV4 Limited 4WD $3,440
Chevrolet Equinox LS AWD $3,432
Chevrolet Impala LT $3,442
Dodge Grand Caravan Crew $3,475
Chevrolet Malibu LT $3,480
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $3,475
Hyundai Elantra GLS 4-Dr Sedan $3,646
Ford Edge Limited AWD $3,654
Kia Optima LX $3,679
Hyundai Sonata GLS 4-Dr Sedan $3,689
Ford Fusion SEL 4-Dr Sedan $3,689
Ford F-150 Lariat King Ranch 2WD $3,694
Toyota Corolla XRS $3,689
Volkswagen Jetta SE 4-Dr Sedan $3,698
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Price data assumes single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, and safe-driver. Table data does not factor in vehicle garaging location which can modify prices greatly.

Looking at the numbers, you can conclude that cars like the Ford Escape, Honda CR-V, and Jeep Wrangler are likely to be a few of the less-costly vehicles to insure for young men. The price for an auto insurance policy will tend to be higher just because there is more claim exposure for 20 year old guys, but generally speaking those specific models will probably have the lowest insurance prices that you’ll find.

The example below shows how different deductible levels can raise or lower insurance costs when trying to find cheap insurance for 20 year old guys. The premiums are based on a single female driver, comprehensive and collision coverage, and no discounts are factored in.

A 50-year-old driver could lower rates by $448 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $674 by selecting a $1,000 deductible. Even younger insureds, such as the 20-year-old chart data, can save $1,148 annually by choosing a larger deductible amount. When raising deductibles, it is necessary to have plenty of discretionary funds to offset the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

Should you buy full coverage?

Saving on auto insurance should be important to most vehicle owners, and one of the quickest ways to find cheaper insurance for 20 year old guys is to not pay for full coverage. The chart below compares auto insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Florida. The premiums assume a clean driving record, no at-fault accidents, $500 deductibles, marital status is single, and no policy discounts are applied.

If we average the cost for ages 20 through 70, comp and collision coverage costs an extra $1,961 per year more than carrying just liability coverage. That touches on the question when is the right time to remove full coverage. There is no clear-cut formula that works best for making the decision to drop physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.

For example, let’s assume your vehicle’s replacement value is $11,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, you would only receive $10,000 after paying your deductible. If it’s costing in excess of $1,000 annually for physical damage coverage, then it might be time to consider dropping full coverage.

Auto insurance rates are higher with tickets and accidents

The recommended way to score low auto insurance premiums in Florida for young men is to drive safely and avoid tickets and accidents. The illustration below illustrates how traffic citations and at-fault claims raise premium costs for each different age category. The rate quotes are based on a married male driver, full physical damage coverage, $500 deductibles, and no discounts are applied.

In the prior example, the average cost of auto insurance in Florida per year with no accidents and a clean driving record is $1,833. Get written up for one speeding ticket and the average cost rises to $2,104, an increase of $271 each year. Now add two accidents along with the one speeding ticket and the 12-month cost of auto insurance for 20 year old guys jumps again to an average of $4,480. That’s an increase of $2,647, or $221 per month, just for being a little careless behind the wheel!

How to find the cheapest car insurance for 20 year old guys

The list below summarizes some of the recommended money-saving ideas that can help Florida drivers quote low-cost coverage.

The last idea is certainly important, as we discussed in this piece. Prices charged by companies in Jacksonville adjust often, so don’t be tentative to change insurance companies if a lower-cost policy is available. Sticking with a specific company is fine, but it’s not a good idea if that faithfulness ends up costing you a wad of cash every year. If you have a few minutes, now is a great time to shop around and find cheaper insurance for 20 year old guys.