Cheap Motor Insurance Young Drivers - For young drivers, the cost of insurance is very high, with an average cost of around £2,100 a year. Compared to around £500 for the average UK policy, this is a fourfold increase.
With prices not expected to drop anytime soon you may be wondering, why is car insurance so expensive for young people?
Cheap Motor Insurance Young Drivers
Only 7% of the UK's approximately 40 million driving license holders are under 25. However, they account for around 25% of the 140,000 road traffic accidents involving personal injury.
One Young Driver's $6,000 Car Insurance Shock: Mayers
We did the math for you and found that young people are therefore almost 5 times more likely to be involved in an accident than an adult. The fact that a small percentage of drivers accounted for a quarter of crashes in the United Kingdom in 2017 is shocking.
But, encouragingly, when you look at the statistics published by the Department of Transportation, the number of serious accidents involving at least one young driver has actually decreased by about two-thirds over the past 20 years.
This trend will only continue, reducing costs for young drivers. Young drivers are almost five times more likely to be involved in an accident. This may be why they charge four times more for insurance!
Once they win a customer, they see them as potential customers for life and not just in terms of auto insurance, but also home insurance, life insurance, etc.
Cheapest Car Insurance For Teens (and Their Parents)
Some young drivers choose to have a black box fixed which will reduce insurance by an average of £1,443. A black box allows you and your insurer to see exactly how you drive.
But, insurers also tried to provide assistance. Perhaps on your own to lock in young drivers as customers by offering programs that reduce the blow.
But, at the end of the day, when young drivers hit the road, they need to keep their cars in top condition, booking all their car service needs through .
Drew is the lead content writer. He has spent his career working closely with ex-mechanics and industry experts to provide in-depth yet easy-to-understand guides to vehicle maintenance. His work has been featured in Daily Mail, Confused.com and Auto Express articles, among others.
Getting Cheap Car Insurance For New Drivers
Up-to-date automotive news, guides and information. Across categories including news and motoring, we'll help you drive safely, look after your car and prepare for your MOT test. for 18-year-old drivers from 29 companies nationwide. To find the lowest price for you, get quotes from several companies.
Comprehensive car insurance for an 18-year-old driver costs an average of $7,396 per year, or $616 per month. We found a difference of $7,551 between annual rates from the cheapest insurer, Erie, and the most expensive insurer, Allstate. Price differences like this show why it's so important to compare insurance quotes to make sure you get the best rates.
Drivers under the age of 25 tend to have higher insurance rates because they are considered higher risk drivers. As you get older and have more years of driving under your belt, your insurance rates should start to drop.
For example, someone who turns 18, on average, will see their annual rate drop by $1,445.
Why Young Drivers Need To Compare Their Car Insurance Policies
The average cost of car insurance for an 18-year-old female driver is cheaper than an 18-year-old male driver. For 18-year-olds, female drivers pay $7,030 a year on average, while male drivers pay $7,762.
The Centers for Disease Control and Prevention found that the motor vehicle fatality rate for male drivers ages 16 to 19 is more than double the rate for female drivers in that age group. , making male teenagers a higher risk for insurers.
However, some states - California, Hawaii, Massachusetts, Michigan (in some cities), Montana, North Carolina and Pennsylvania - prohibit insurers from using gender to determine auto insurance rates. Male and female drivers in these states must pay the same price for auto insurance coverage, all else being equal.
Our analysis found that most young drivers see their insurance rates drop by 12% when they turn 18. At age 18, they pose less risk to insurers than newly licensed 16 and 17 years old , and your fees. reflect that.
How Much Is Car Insurance For A New Driver?
New drivers are the exception to this rule. If you are a new driver at the age of 18 and get car insurance for the first time, you will probably pay more than a driver who is licensed at the age of 16 and has two years of driving experience.
We did not include USAA in these recommendations, as their policies only serve current or former members of the military and their families. With USAA, it will offer the cheapest auto insurance for 20-year-olds in Illinois, Michigan, New York and Texas.
North Carolina is the cheapest state for an 18-year-old to get car insurance, with annual premiums 54% cheaper than the overall average. Michigan is the most expensive state, with annual car insurance costs for 18-year-olds nearly three times more expensive than the average.
An 18-year-old can buy his own car insurance policy. However, we recommend adding it to your parent's policy if possible, as it's cheaper than getting your own separate policy.
Young Driver Insurance Ni
The average cost of adding an 18-year-old to a parent's auto insurance policy is $3,020 per year, but the average cost of an 18-year-old getting their own auto insurance is $7,396 per year.
Parents will likely see an increase in their rates when they add a teenage driver to their policy, but by asking for discounts, they can help offset the increased cost. If the teen drives a separate car, for example, parents can get a multi-car discount. And if parents choose to stick with the same insurer for their child's car, they can be rewarded with a loyalty discount.
In addition to sticking with your parent's policy, the best strategy to get cheap auto insurance quotes is to shop around. Prices can vary by thousands, so it's useful to get free car insurance quotes from several insurers to compare prices.
Explore discount opportunities. Insurers offer many discounts for which you may be eligible. If you are an 18-year-old high school or college student, you can get a good student discount on car insurance as long as you keep your GPA within a certain limit.
Best Car Insurance For Young Drivers In Ireland: How Do I Get One?
College students who leave their car at their parents' house during the academic year and attend a university more than 100 miles away often get a student from home discount , and perhaps a low-mileage discount.
Alternatively, if you are financially independent from your parents and live apart from them, you can save money on your auto insurance policy by combining it with your renters or owners insurance.
Drive a cheap car. Expensive cars are more expensive to repair, which means they also cost more to insure. Cars with the cheapest insurance for 18-year-olds include SUVs like the Subaru Outback and Buick Encore, and safer sports cars like the Mazda MX-5 Miata and Volkswagen Golf GTI.
Increase your deductible. Another way to lower your insurance rate is to choose a higher deductible. However, this means that you will pay more out of pocket if you file a claim.
Car Insurance For Teen Drivers
Use a telematics program. By sharing your driving data with your auto insurer through a telematics tracking device, you can prove that you are a safe driver who deserves lower premiums. Usage-based car insurance allows you to get big discounts if you're generally a safe driver.
Consider the amount of coverage you need. Since 18-year-old drivers are statistically more likely to be in an accident, it is generally wise to purchase a comprehensive coverage policy that includes collision and comprehensive insurance. However, a minimum coverage policy can work if, like many young drivers, you have an older car and the repairs cost more than it's worth.
Get more rates. It's always better to shop around and get free online insurance quotes to compare rates from top companies and make sure you find the best rates and coverage.
Reputable car insurance companies do not sell short term car insurance. If you're an 18-year-old driver and you've been seeing ads for car insurance for a day, a week or a month, don't be tempted. Insurance policies are usually only for six months or a year, although you can usually cancel at any time, and you can choose to pay monthly.
The Ten Cheapest Cars To Insure For Young Drivers
We've collected auto insurance quotes for thousands of ZIP codes in nine of the most populous states in the United States. Our sample drivers are single 18-year-old males and females who drive a 2015 Honda Civic EX and have clean driving records.
The review included 29 insurance companies, and rates were only added to our list of average prices and recommendations if their policies were available in at least three of the nine states.
Our analysis pulled insurance rate data from Quadrant Information Services. The rates we collect are taken publicly from insurers' files and should be used for comparison purposes only, as your rates may differ from our averages.
An 18-year-old can expect to pay an average of $616 per
The Best Car Insurance Plans For Young Drivers
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