The words “bargain” and “insurance” really shouldn’t be used together, in particular when comparison shopping for the best insurance rates for drivers requiring a SR22. Let’s familiarize you with some of the things that have an effect on auto insurance premiums, and see if you can cut the cost of the next policy you buy.
The car, truck, or SUV that needs insurance is a significant factor when comparing quotes for cheap car insurance for drivers requiring a SR22. Vehicles with higher performance, a lack of advanced safety features, or a history of substantial liability claims will cost much more to insure than safer models. The table below outlines car insurance premiums for a number of the cheapest vehicles to insure in Massachusetts.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$4,538|
|Honda CR-V LX 4WD||$4,676|
|Ford Escape XLT 4WD||$4,790|
|Volkswagen Jetta S 2.5 Station Wagon||$4,836|
|Jeep Wrangler Sport 4WD 2-Dr||$4,973|
|Dodge Grand Caravan SE||$5,284|
|Ford Explorer XLT AWD||$5,293|
|Ford F-150 STX Super Cab 2WD||$5,291|
|Honda Odyssey EX||$5,322|
|Toyota Camry LE||$5,375|
|Chevrolet Malibu LS||$5,594|
|Chevrolet Impala LT||$5,601|
|Chevrolet Equinox LT AWD||$5,594|
|Toyota RAV4 Sport 2WD||$5,602|
|Toyota Tacoma Double Cab 4WD||$5,594|
|Nissan Altima Hybrid 4-Dr Sedan||$5,671|
|Jeep Grand Cherokee Limited 4WD||$5,678|
|GMC Sierra SLT Extended Cab 4WD||$5,671|
|Honda Civic VP 4-Dr Sedan||$5,742|
|Dodge Ram 3500 Crew Cab ST 2WD||$5,772|
|Ford Focus SES 4-Dr Sedan||$5,775|
|Toyota Corolla LE||$5,798|
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Cost estimates assume single male driver age 40, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Massachusetts minimum liability limits. Discounts applied include multi-vehicle, multi-policy, and homeowner. Prices do not factor in specific garaging location which can raise or lower insurance rates noticeably.
Based upon the table data, vehicles like the Hyundai Elantra, Honda CR-V, Ford Escape, and Volkswagen Jetta are going to be a few of the most budget-friendly vehicles to insure for high risk drivers. The cost of auto insurance will tend to be more expensive just due to the fact that there is more liability exposure for drivers requiring a SR22, but overall those specific models will tend to have the cheapest car insurance rates available.
Deciphering which company offers the cheapest insurance rates for drivers requiring a SR22 will involve a little more work in order to find the lowest price quote. Each insurance company has a different formula to determine rates, so let’s examine the insurance companies that tend to have lower prices in Massachusetts.
Compare Cheap Insurance Quotes for SR22 Drivers
|Rank||Company||Cost Per Year|
|2||National Grange Mutual||$831|
|8||Norfolk and Dedham||$1,036|
|View More Rates Go|
State Farm offers some of the lowest car insurance rates in Boston at around $733 per year. This is $502 less than the average rate paid by Massachusetts drivers of $1,235. National Grange Mutual, GEICO, OneBeacon, and Commerce Group also make the cut as some of the best Boston, MA car insurance companies.
In the above example, if you currently have coverage with National Grange Mutual and switched to State Farm, you could realize a yearly savings of about $98. Insureds with GEICO may save as much as $117 a year, and OneBeacon customers might cut rates by $152 a year.
Be aware that those premiums are averages across all ages of drivers and types of vehicles and do not take into consideration an exact location for drivers requiring a SR22. So the company that can offer the best rates for your situation may not even be in the list above. That illustrates why you need to compare as many prices as possible using your own specific driver information and vehicle.
Types of discounts on Boston insurance rates
Insurance providers that offer cheap quotes for drivers requiring a SR22 may provide price discounts that could lower prices by 35% or more if you qualify. A few of the larger companies and a summarized list of policyholder discounts are detailed below.
- State Farm may include discounts for Drive Safe & Save, passive restraint, defensive driving training, driver’s education, and good driver.
- American Family offers premium reductions for TimeAway discount, mySafetyValet, defensive driver, air bags, and accident-free.
- GEICO has discounts for military active duty, five-year accident-free, federal employee, multi-vehicle, and anti-lock brakes.
- 21st Century offers discounts including early bird, theft prevention, student driver, homeowners, and anti-lock brakes.
- Progressive may offer discounts for continuous coverage, online quote discount, homeowner, multi-policy, online signing, and good student.
The example below compares insurance rates with and without discounts applied to the policy premium. The prices are based on a male driver, one traffic citation and two accidents, Massachusetts state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with multiple vehicle, passive restraint, vehicle safety, continuous coverage, marriage, and paid-in-full discounts applied. When discounts are factored in, theaverage yearly reduction on insurance for drivers requiring a SR22 is 29% or $1,277.
Does full coverage make sense?
Reducing the cost of insurance should be important to the majority of vehicle owners, and one way to find cheaper insurance for drivers requiring a SR22 is to not pay for full coverage. The information below illustrates the difference between annual premium costs when comparing full coverage to liability only. The rates are based on no tickets, no at-fault accidents, $100 deductibles, drivers are single, and no discounts are applied.
As an average, full coverage costs $2,566 per year more than carrying just liability coverage. Many people question if physical damage coverage is worth the money. There is no written rule for excluding full coverage, but there is a general convention. If the annual cost of your full coverage insurance is more than about 10% of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.
If you aren’t clear which coverage you need and would like to get some help when shopping for the best coverage for drivers requiring a SR22, the agencies below are willing to provide answers to your questions and help you determine which auto insurance policy would work best for you. To locate an agency by location nearest to you, click the link at the bottom.
- Vargas and Vargas Insurance
1133 Washington St – Dorchester Center, MA 02124 – (617) 298-0655
- Ann M Foley Insurance
657 Gallivan Blvd – Boston, MA 02124 – (617) 282-5659
- Boyd Insurance Agency
296 Bennington St – Boston, MA 02128 – (617) 567-5710
- Allstate Insurance: Abner Joseph
571 Dudley St Ste A – Boston, MA 02125 – (617) 442-9490
- AAA Boston
125 High St – Boston, MA 02110 – (617) 443-9300
How to find low-cost car insurance for drivers requiring a SR22
The list below summarizes many penny-pinching ideas that can help you quote cheaper coverage.
- Avoid speeding and other traffic citations and pay less
- Prevent rate increases by staying accident-free
- Save money by staying claim-free
- Buy your homeowners policy from the same company as your auto insurance
- Do not pay for full coverage on older vehicles
- Safer vehicles cost less to insure
- Compare rates regularly and switch companies to save money
The final tip is certainly significant, as we noted in this piece. Car insurance rates can change considerably in a year, so don’t be unwilling to switch carriers if a better rate can be found.
Many consumers stick with the same company and that’s fine, but is isn’t recommended if it’s costing you a considerable chunk of change every month. If you have a few minutes, shop around and find cheaper auto insurance for drivers requiring a SR22 in Boston.