It can be difficult to find affordable vehicle insurance no matter your age, but it can be more difficult for young drivers. Car insurance premiums are higher for teenagers since they have less driving experience and are more likely to be involved in an accident. Even so, it is still possible to get a good deal. If you’re a young driver looking for vehicle insurance, this article will show you how to get the best rates and which companies you should research further.
Top Cheapest Car Insurance Companies for New Drivers:
1. When it comes to cost, Allstate is your best option.
2. When It Comes to Processing Claims, State Farm Is the Best Option
3. A Progressive Policy Is One That Can Adapt To Change
4. Student discounts are best at Geico.
5. When looking for optional coverage enhancements, Liberty Mutual is your best bet.
Based on our research, we found that Allstate had the most affordable teen auto insurance. Besides being one of the major insurers in the country, this firm also provides good choices in auto insurance protection and a wide range of discounts for drivers of any age.
2- Insuring Company, State Farm
The most recent J.D. Power Auto Insurance Claims Satisfaction Survey found that State Farm provided the highest levels of customer satisfaction. In addition, there are attractive reductions for teen drivers that can help them save money on insurance.
Discounts can be found for drivers of any age with the help of Progressive’s well-known “Name Your Price” feature. This lets drivers know exactly what kind of coverage they can afford given their budget constraints.
There are a number of discounts available from Geico, and some of them are tailored to teens. For example, teens who maintain a B average or higher in school are eligible for a good student discount, and teens who complete an approved driver’s education course are eligible for a driver’s education discount.
Liberty Mutual doesn’t offer the lowest auto insurance for kids, but it does have some less-common coverage alternatives including new car replacements, gap insurance, and accident forgiveness. This may appeal to youngsters worried about their car or their insurance premiums following an accident.
Can you tell me how much teenage auto insurance typically costs?
Our research shows that teenage drivers spend an average of $169 more per month for auto insurance than their adult counterparts.
In the end, the answer can be found in the numbers. The risk of dying in a car crash increases by about 50% for those between the ages of 16 and 19, according to the Insurance Institute for Highway Safety (IIHS). And they are more prone to drive when preoccupied. Further, there is less information available for insurers to use in determining an adolescent driver’s level of responsibility on the road. Car insurance for teenagers is more expensive because of the increased risk presented by young drivers.
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Insurance costs for male and female teenage drivers:
When comparing the costs of teenage drivers, we found that teenage males pay roughly $20 more per month than teenage females. Once again, this is because of numbers. Statistically speaking, teenage guys have a higher accident rate. IIHS statistics show that in recent years, they have been the primary cause of accidents involving young adults (ages 16–19).
Tips for locating affordable protection for young drivers:
Getting many quotes is the best method to discover affordable adolescent auto insurance. Risk algorithms vary per insurance company. However, not all insurance companies charge significantly more for juvenile drivers than they do for adults. Therefore, comparing quotations side by side is the only way to determine which company provides the best rate for a young driver.
In addition to comparison shopping, consider discounts on auto insurance designed especially for teenagers, such as the ones we’ve outlined below. This can help alleviate some of the financial burden associated with high premiums.
Teens can save money on automobile insurance by dropping some coverage options. However, there is a chance that this won’t work at all. If a consumer has a lease or loan on a vehicle, for instance, the financial institution may prohibit them from canceling the required accident and comprehensive coverage. Skipping it could be risky for a young driver, even if it isn’t required, because of the significant costs they’d have to pay for repairs or medical care if they were involved in an accident. Carefully consider this alternative, and err on the side of finding a better value rather than the absolute lowest rate.
When it comes to auto insurance, should teenagers ride shotgun with mom and dad?
Teen drivers can save money by staying on their parents’ auto insurance coverage rather than attempting to get their own. If everyone in the family agrees, there’s no reason for a teenager to be excluded from their parents’ health insurance.
By doing so, young drivers can take advantage of savings that their parents earn, such as a discount for having both vehicle and home insurance with the same company and another for maintaining continuous coverage.
Of course, every family needs to think about the fact that adding a teen driver means paying higher rates. A parent who is hesitant to shoulder the additional expense may ask their child to cover the difference between their current rates and the new ones.
Although there is no hard and fast rule about when a young driver must obtain their own policy, it is prudent for them to do so if they are living on their own, contributing financially to their household, and operating a vehicle of their own accord.
Teenage drivers’ insurance rates:
Based on our research, we present below an in-depth look at the typical premiums paid by safe teenage drivers for auto insurance.
How much does automobile insurance typically cost for a 16-year-old?
Males spend an average of $221 per month more than females, who pay an average of $210 per month for auto insurance for a 16-year-old driver.
How much does auto insurance typically cost for a 17-year-old?
The typical cost of a 17-year-auto old’s insurance policy is $195 per month. A monthly premium of $208 for men is significantly higher than the median cost of $183 for women.
Cost of automobile insurance for a young driver (age 18)
When a teen reaches the age of 18, their auto insurance rate typically drops to about $169 monthly. Male drivers aged 18 pay an average of $177 per month compared to female drivers aged 18 who pay an average of $161 per month.
How much does auto insurance typically cost for a 19-year-old?
Auto insurance premiums often begin to decrease for teenagers in this age bracket. If a person has been driving safely for several years, starting at age 19 they should expect to see a large reduction in their auto insurance costs. A 19-year-monthly old’s premium is around $116 on average, with males paying $124 and females $108.
Research many companies to find the best rates for teen drivers’ insurance:
The information provided above should help parents and teen drivers prepare for the financial commitment that is teen auto insurance. However, there are a lot of other things to consider, such as whether or not the youngster is eligible for any discounts and whether or not they have any accidents on their record. Quote shopping is the only way for a kid to find the best rate.
Insurance rate reductions for new, young drivers
The finest teen car insurance typically provides the following reductions to new drivers. It’s important to remember that not all states allow for or have access to all discounts and that not all insurance companies offer all discounts.
Get a discount on your car insurance if you take a safe driving course:
Some insurance companies provide discounts to young drivers who successfully complete a defensive driving course.
Great price for students:
Many insurance companies offer discounts to students with B averages or higher because they see this as evidence of maturity and responsibility on the student’s part.
Get a break on your insurance if you’re a safe
While enrolling in a telematics program that monitors a teen driver’s driving via a small device installed in the vehicle may not instantly qualify them for a safe driver discount, it could in the long run.
The off-campus student rate:
For this reason, insurance companies may offer a discount to students who leave their cars at home while attending college far away and use them primarily during visits.
Teen drivers may be eligible for even more savings than this. To learn about all of the discounts that are available, it is best to contact an insurance company directly.