Getting reliable coverage as an 18-year-old for your Dodge Challenger can help you protect yourself and your vehicle. The Dodge Challenger is a powerful muscle car that has a record of power and speed, which can affect what you might pay for your insurance coverage. Understanding more about your insurance options can help you find a provider that meets your needs and budget. Keep on reading to learn more about insuring a Dodge Challenger.
The Dodge Challenger
The Dodge Challenger first arrived on the scene in 1970 and made a big splash with car fans and pop culture, with over 185,000 Challengers sold within its first four production years. The second generation made a smaller but still important splash, as it was one of the first vehicles in the American market that had soundproofing, which helped to reduce engine vibrations.
The third generation brought excitement to the Challenger once again in 2008, when a completely new design had car enthusiasts salivating. The Hellcat trim took the automotive world by storm with its monster-sized Hemi engine that made everyone pay attention. Other trim models include the SXT, SE, R/T, Scat Pack, SRT Hellcat, and the rare and elusive SRT Demon.
Insurance Cost for 18-Year-Olds
The average cost to insure a Dodge Challenger for an 18-year-old is $5,116 per year. This equals around $426 dollars per month for a full coverage policy.
Average Insurance Cost for Different Model Years
Insurance rates can also vary among different model years. This is due to the change in relative pricing, features, and vehicle specifications. If you choose to insure your vehicle through GEICO, you can expect to pay these rates for a full coverage policy for the following model years:
- 2020 Dodge Challenger: $1,535 annually/$128 monthly
- 2019 Dodge Challenger: $1,500 annually/$125 monthly
- 2018 Dodge Challenger: $1,473 annually/$123 monthly
- 2017 Dodge Challenger: $1,482 annually/$124 monthly
- 2016 Dodge Challenger: $1,369 annually/$114 monthly
Factors Influencing Dodge Challenger Insurance Rates
There are several factors influencing the rates to insure an 18-year-old driving a Dodge Challenger. Knowing about these factors can help you find ways to minimize the impact of these items and potentially reduce your rates. Factors affecting insurance rates include:
- Driver age: Driver age affects rates because insurance companies deem inexperienced drivers riskier to insure due to the number of accidents they’re involved in each year. Drivers in this age group might have higher premiums because statistically they’re involved in more accidents or moving violations annually.
- Driving history: Insurance companies also review an individual’s driving history to understand more about their safe driving habits, which can help them determine risk. Those who have tickets, accidents, or moving violations are more likely to have higher insurance rates than those with a clean driving history.
- Vehicle price: Vehicle price can affect insurance rates because cars with higher prices typically are more expensive to repair. Vehicles that are older or have a smaller price tag are more likely to have cheaper insurance rates.
- Vehicle specifications: Details about your vehicle, like the engine size, can affect the risk associated with insuring your vehicle. Larger engines that can produce more torque and horsepower are more likely to have higher insurance premiums than smaller engines.
- Credit score: Companies analyze an individual’s credit score to help identify potential financial risks for the company. Drivers who have lower credit scores might have higher insurance rates due to the associated financial risk for the insurance company.
Ways to Save on Insurance Costs
There are several ways to save as an 18-year-old on your insurance costs. Many of these tips have long-lasting impacts, so you can benefit from lower premiums for many years to come. Here are some ways to help you save on insurance costs as a young driver:
Stay on Your Parent’s Car Insurance
Staying on your parent’s car insurance policy can help you reduce insurance premiums as you can benefit from their credit score, driving record, and age. Many insurance companies let you stay on your parent’s insurance if you go to college or live at home. As long as you meet one of these variables, many companies will let you stay on the account until you finish college or move out of the house.
Finance an Older Dodge Challenger
Choosing an older model year, such as the 2016 Dodge Challenger, can help you get all the cool muscle car looks without the insurance premiums to go along with it. This is because older models generally have lower price tags and different specifications than newer models. If you decide to go even further back in model years, it’s important to do your research on the 1970 models because many of these models are now considered classics and have the price tag to match.
Choose Less Robust Trim Models
Opting for the base trim model versus the more powerful R/T or SRT Hellcat can save money on insurance premiums. This is because the base models often have smaller engines that produce less torque and horsepower. Less horsepower equals less risk for insurance companies because you can’t get the speeds or power like the higher trim models.
Maintain a Clean Driving Record
A clean driving record is essential when it comes to insurance premiums because this shows that you’re less risky to insure than drivers who have accidents, moving violations, or tickets on their record. If you do have any of these items on your record, attending a driving school can help you remove points from your record. You might even ask your state’s motor vehicle department to remove convictions from your record, which can even get a complete dismissal of the ticket.
Take Driving Courses
Defensive driving courses and traffic school are great tools to certify your driving experience to insurance companies. This can help them understand how you prioritize safe driving and can help them trust in your ability to navigate or avoid accidents. Driving courses can also help improve your safety and confidence on the road.
The Dodge Challenger is a powerful muscle car that often requires excellent coverage to protect you from accident expenses or damage. Comparing several insurance company rates can help you find the provider and coverage that works for you and your vehicle.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.