For youthful drivers, one of the more important factors that determine the price you pay for insurance is where your residence is. Areas with increased crime or more people are more likely to pay higher prices, whereas areas with less crime or weather claims tend to receive slightly lower rates.
The next table shows the most expensive areas in Florida for young drivers to buy auto insurance in. Jacksonville is ranked #19 with an annual cost of $2,020 for the average insurance policy, which is about $168 monthly.
|Rank||City||Average Per Year|
|6||West Palm Beach||$2,679|
|20||Port St. Lucie||$1,916|
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Price information shown is approximated as the specific area where the vehicle is garaged can raise or lower premium rates noticeably.
The vehicle model that needs insurance is a significant factor that determines whether or not you can buy the most economical car insurance for young drivers. Vehicles with high performance engines, a lack of modern safety features, or high incidents of liability claims will cost much more to insure than more modest models.
The next list outlines car insurance premiums for some of the cheaper automobiles to insure in Florida.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$3,981|
|Ford Escape XLT 2WD||$3,986|
|Honda Accord LX 4-Dr Sedan||$3,981|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$4,431|
|Ford F-150 XLT Super Cab 2WD||$4,472|
|Volkswagen Jetta SE 2.5 Station Wagon||$4,563|
|Honda Civic DX 4-Dr Sedan||$4,684|
|Nissan Altima 2.5 4-Dr Sedan||$4,724|
|Toyota RAV4 Sport 2WD||$4,734|
|Chevrolet Equinox LT AWD||$4,724|
|Ford Explorer Eddie Bauer AWD||$4,761|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$4,771|
|Dodge Grand Caravan Crew||$4,761|
|Toyota Camry SE||$4,976|
|Hyundai Elantra SE 4-Dr Sedan||$4,985|
|Chevrolet Impala LTZ||$4,976|
|Toyota Corolla S||$4,986|
|Ford Edge Sport 2WD||$4,976|
|Honda Odyssey Touring||$5,014|
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Data rating is based on single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium costs do not factor in your specific Jacksonville, FL location which can modify auto insurance rates greatly.
Based upon the table data, vehicles like the Honda CR-V, Ford Escape, Honda Accord, and Toyota Prius will definitely be some of the cheaper vehicles to insure for youthful drivers. Auto insurance rates will be higher anyway because there is more liability risk for young drivers, but generally speaking those vehicles will tend to have the lowest insurance rates available.
Do you need full coverage?
Saving money when shopping for auto insurance is probably important to most people, and a good way to save on the cost of insurance for young drivers is to not buy comprehensive and collision coverage. The diagram below illustrates the difference between premium costs with and without full coverage. The premiums assume a clean driving record, no claims, $500 deductibles, single marital status, and no discounts are applied.
If all age groups are averaged, comp and collision coverage costs an extra $1,961 per year more than carrying just liability coverage. That raises the question if buying full coverage is worth the money. There is no exact formula of when to drop full coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your vehicle’s replacement value is $8,500 and you have $1,000 deductibles. If your vehicle is totaled, the most your company will settle for is $7,500 after paying your deductible. If you are currently paying more than $750 a year for full coverage, then you might consider buying liability only.
Selecting a high-quality insurer is hard considering how many companies sell coverage in Florida. The company information below may help you select which auto insurers to look at comparing price quotes from.
These rankings only include the largest companies in America, so smaller companies that only insure vehicles in Florida will not be included in this list. To compare price quotes and find the cheapest rates for young drivers, simply click here.
Top 10 Large Auto Insurance Providers in Jacksonville Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Top 10 Large Auto Insurance Providers in Jacksonville Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance
The chart below demonstrates how deductible levels can affect insurance rates when searching for cheap insurance for young drivers. The information is based on a single female driver, full physical damage coverage, and no discounts are applied to the premium.
The chart above illustrates that a 30-year-old driver could pocket $526 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $794 by changing to a $1,000 deductible. Even younger drivers, like the 20-year-old example, could roll back prices as much as $1,174 or more by choosing a larger deductible amount. When increasing deductibles, it will be required to have enough funds in savings to satisfy the extra out-of-pocket expense associated with higher deductibles.