Best Cheap Car Insurance For Young Drivers - Erie, Geico and USAA were the cheapest companies, with thousands of auto insurance quotes for 18-year-old drivers from 29 companies nationwide. Get quotes from multiple companies to find the cheapest rates for you.
The average cost of full coverage auto insurance for an 18-year-old driver is $7,396 per year, or $616 per month. We found a $7,551 difference in annual rates between the cheapest insurer, Erie, and the most expensive, Allstate. Such a price difference shows why it's important to compare insurance quotes to get the best rates.
Best Cheap Car Insurance For Young Drivers
Drivers under the age of 25 have higher insurance rates because they are considered riskier drivers. As you get older and have more driving years under your belt, your insurance rates should start to decrease.
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For example, someone turning 18 will see their annual rate drop by an average of $1,445.
The average cost of car insurance for 18-year-old female drivers is cheaper than for 18-year-old male drivers. For 18-year-olds, female drivers earn an average of $7,030 per year, while male drivers earn $7,762.
The Centers for Disease Control and Prevention found that male drivers between the ages of 16 and 19 are twice as likely to die in auto accidents as female drivers in the same 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 car insurance rates. In these states, male and female drivers must pay the same price for auto insurance, other things being equal.
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Our analysis found that when most young drivers turn 18, insurance rates drop by 12%. At 18, you're less of a risk to insurers than newly licensed 16- and 17-year-olds, and your rates should reflect that.
New drivers are an exception to this rule. If you're an 18-year-old new driver and getting car insurance for the first time, you'll pay more than a 16-year-old licensed driver with two years of driving experience.
We did not include USAA in these recommendations because its policies serve current or former military members and their families. If incorporated, USAA would offer the cheapest auto insurance for 20-year-olds in Illinois, Michigan, New York and Texas.
North Carolina is the cheapest state to get car insurance for an 18-year-old, with annual premiums 54% cheaper than the average. Michigan is the most expensive state, with annual car insurance costs three times higher than the average for 18-year-olds.
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An 18-year-old can buy his own car insurance policy. However, we recommend combining your parent's policy if possible as it is cheaper than taking out a separate policy on your own.
The average cost of adding an 18-year-old child to a parent's car insurance policy is $3,020 per year, but the average cost of insuring an 18-year-old child's own car is $7,396 per year.
Parents may see their rates increase when they add a teen driver to their policy, but by looking for a discount, they can help offset the increased cost. For example, if a teenager drives a separate car, a parent can get a multi-car discount. If parents choose to stay with the same insurer for their teen's car, they may be rewarded with a loyalty discount.
Aside from staying on your parent's policy, the best strategy to get cheap auto insurance is to shop around. Prices can vary by thousands, so it's worth getting a free car insurance quote from several insurers to compare rates.
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Explore discount opportunities. Insurers offer several discounts for which you may be eligible. If you're an 18-year-old high school or college student, you can get good car insurance discounts if you keep your GPA above a certain threshold.
College students who leave their cars at their parents' house during the school year and commute to a university more than 100 miles away can often get a student away-from-home discount and possibly a low-mileage discount.
Or, if you're financially independent and live apart from your parents, you can save money by combining your auto insurance policy with renters or homeowners insurance.
Cheap driving Expensive cars cost more to repair, which means they are also more expensive to insure. The cheapest car insurance for 18-year-olds includes cars like the Subaru Outback and Buick Encore, and safe sports cars like the Mazda MX-5 Miata and Volkswagen Golf GTI.
Young Driver Car Insurance
Increase output. Another way to lower your insurance rate is to choose a higher deductible. However, this means you'll pay more out of pocket if you make a claim.
Use telematics software. By sharing your driving information with your auto insurance through a telematics tracking device, you can prove you're a safe driver who deserves lower premiums. Usage-based auto insurance usually allows you to get great discounts if you're a safe driver.
Rethink how much lighting you need. Since 18-year-old drivers are statistically more likely to be involved in accidents, it is wise to purchase a comprehensive coverage policy that includes both collision and comprehensive insurance. However, a minimum coverage policy may work if you, like many young drivers, have an older car and the cost of repairs exceeds the value of the car.
Get multiple rates. To compare rates from top companies and get the best rates and coverage, it's best to shop around and get free online insurance quotes.
How To Get Cheap Car Insurance
Reputable car insurance companies do not sell short term car insurance. If you're an 18-year-old driver and you see an ad for one-day, one-week or one-month car insurance, don't be fooled. Insurance policies usually only come in terms of six months or one year, you can usually cancel them at any time, and you can pay monthly.
We've collected car insurance quotes for thousands of zip codes in nine of America's most populous states. Our sample drivers were single 18-year-old men and women who drove a 2015 Honda Civic EX and had clean driving records.
The analysis included 29 insurance companies, and rates were added to our list of average prices and offers if their policies were available in at least three of the nine states.
Our analysis pulled insurance rate data from Quadrant Data Services. The rates we collect are taken from insured files and should be used for comparison purposes only, as your quote may differ from our average.
How Much Does Car Insurance Cost On Average?
An 18-year-old can expect to pay an average of $616 per month for full coverage car insurance. Ari offers the cheapest rates at $264 per month.
Yes, 18-year-olds can buy their own auto insurance policy. However, you can pay up to 60% less if you share the policy with your parents or a senior driver.
Call for an insurance quote over the phone: (855) 596-3655 | Agents are available 24 hours a day, 7 days a week! The Toyota Aygo tops our list of the cheapest cars to insure for 17-year-old drivers: we reveal the ten best value cars for young drivers.
Young drivers driving this model will pay an average of £641 a year, according to Admiral figures, making it the cheapest car for teenagers to insure in the UK.
The Best Cheap Car Insurance
It's important to get the best deal for young drivers, as car insurance for that age group is usually very high, with thousands of people on the road.
Drivers - especially young ones - are encouraged to shop for insurance that they can save with providers.
Often telematics or 'black boxes' may be installed as they will monitor how well they drive with safer drivers with lower premiums.
Claire Egan, Head of Motor Products at Admiral, said: 'With driving lessons in full swing and practical driving tests increasing, young drivers could be one step closer to getting their full licence.
Cheap Car Insurance For Young Drivers
'For 17-year-olds, getting off the road can be expensive, with many costs to consider. New drivers have to think about the cost of fuel, car insurance, vehicle tax and maintenance as well as car payments - so it all adds up.
'Younger drivers pay more for their insurance, unfortunately they are statistically more at risk. They are more likely to have accidents than older drivers, and their accidents are more expensive.
'Car insurance for young drivers isn't cheap, but shopping around can help them find the best deal.'
To help young drivers save on their insurance, Admiral has listed the top 10 cheapest cars to insure based on data from the first quarter of this year...
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Mini Cooper in the top ten list with young drivers paying an average of £941 for car insurance.
Although not one of the cheapest models, the latest versions of the smaller engine
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