When you consider the minimum coverage required by state law, the Ford Mustang will cost you around $5,224 annually in insurance, while a Chevy Camaro will cost about $7,064 a year. Other cars that will cost you less money than the Mustang include the Nissan 370Z and Subaru WRX. Below is a table displaying the average rates for these vehicles, ordered by state.
In order to find the cheapest car insurance for a teenager, it is important to consider his or her age and the type of vehicle. In most cases, a car that is older is cheaper to insure, as its value is lower. Additionally, insurance for older cars is cheaper than for new sports cars. However, you must research and shop around for the best deal – there are many insurers out there offering discounts to teens and young adults.
In addition to age and gender, the location of the driver also plays a big role in the cost of teen car insurance. Teen drivers living in places with higher population density pay the highest premiums. States like Texas, Delaware, and Rhode Island are the most expensive states for teen drivers. Depending on your driving record and location, you could be looking at anywhere from $1940 a year for full coverage to $470 a year.
Cars with lower insurance rates include the Honda Accord, Toyota Camry, and the Toyota Tacoma. The Hyundai Santa Fe and the Jeep Liberty are also good choices. Make sure to check out the vehicle’s safety features before buying. A car with higher safety features will likely cost less to insure than a car with less. Also, check out the vehicle’s Kelley Blue Book to find out how much it is worth.