If you’re a teen driver looking to save money, this is the guide for you. We’ll be talking about how you can find the best car insurance rates for high risk drivers. Teens may be considered ‘high risk drivers’ because of the amount of current experience they have compared to others.

Rest assured, you’ll gain experience over time. But you may risk getting into an accident based on ‘rookie mistakes’ or something similar. Careful driving is important, but you’ll want an insurance policy that will keep you covered if things go awry on the road.

Let’s talk more about how you can find the best car insurance without spending a lot.

What are the rates for new drivers (by insurer)?

When it comes to car insurance rates for teenagers, the annual premium is $3900.. So it may be a good idea to consider the idea of finding an insurance policy that is cheaper than that.

For example, Geico has an annual premium of almost $2500. State Farm will be $1000 more when you put the two in a head to head comparison. USAA is the cheapest available overall.

However, USAA’s insurance is reserved for military veterans and their families. Otherwise, you can choose Nationwide and Geico since they are the two cheapest insurers for high risk-drivers.

Let’s take a look at the average annual premium that you’ll be paying for based on insurers:

• USAA: $1950 (for military veterans and families)

• Nationwide: $2400

• Geico: $2500 

• State Farm: $3500

• National Average: $3900

• The General: $4400

• Allstate: $5200

The chart above are the cheapest insurers for high-risk drivers. What’s eye-popping is that those who use Allstate are paying just over twice the amount they would pay for each year with Geico. The ‘gecko’ himself wasn’t joking when he said that you could save 15 percent or more on car insurance.

However, if you are not impressed with what Geico has to offer, don’t lose hope. Nationwide may provide you with better options at just $100. If your parents are veterans, they qualify for USAA (as do their children).

What can increase premiums?

There are a few things that can increase your premiums. These include but are limited to the following:

• Speeding tickets

• Reckless driving

• DUI

• Racing

If you are charged with traffic violations like these, you can expect the insurance costs to increase each year. If you have been issued a speeding ticket, you may see an increase of $431 every year since the ticket was issued.

Finding an insurance policy that won’t hurt you financially even when premiums increase will be important. Thus, there are three insurers to consider: USAA, State Farm, and Geico. In a speeding ticket situation, these three are the best.

You will pay an annual premium of $1635 for USAA while you pay $1900 if covered by either State Farm or Geico.

For reckless driving, USAA and State Farm will have annual premiums of $2000 and $2600 respectively. For racing, USAA will increase the premium to $2450 a year and State Farm at $2625. Finally, USAA is one of the cheapest in terms of annual premiums for DUI at $2530.

Final Thoughts

If you are a teenager, finding the right car insurance is key. We’ve provided you with a few options on which insurer will be the best options for you. Especially if your premiums go up after a traffic violation.

Your annual premiums can stay low if you follow the traffic laws and drive carefully. Choose wisely and find the best option based on your needs and financial situation.