Car Insurance Prices For 18 Year Olds - Younger drivers pay significantly more for car insurance than older drivers, but after age 60, prices also rise.
Age is one of the most important factors that insurance companies take into account when making car insurance quotes. For a car insurance company, a driver's age measures driving experience and accident risk.
Car Insurance Prices For 18 Year Olds
The analysis shows that the youngest and oldest drivers pay significantly more than middle-aged drivers. Rates drop sharply from 16 to 25 years of age, and then begin to rise again after 60 years of age.
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Rates for teenagers are three times more expensive than drivers in their mid-30s and nearly four times more expensive for drivers in their mid-50s. As young drivers gain experience and reach the age of 25, the cost of car insurance drops by around 33%.
Costs usually decrease with each birthday. When drivers reach the age of 50, they are at their best. Even around age 60, car insurance costs begin to increase and are comparable to what drivers see in their 40s.
As a young driver, choosing the right insurance company can mean big savings. The difference between companies can be more than $10,000 per year.
Which insurance company is best for you can change every year, so we recommend getting a free online insurance quote every time your policy renews.
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Farm Bureau has the lowest rates we found for 16-year-old drivers, averaging $3,003 per year. That's slightly cheaper than Erie ($3,111) and USAA ($3,935).
Erie is only available in 12 states, but it offers several discounts for young drivers. Farm Bureau has a young driver safety program, but coverage options may vary depending on your state.
Farm Bureau also offers the cheapest rates for 17-year-old drivers, followed by Erie, USAA and State Farm. The Farm Bureau rate of $2,660 per year is less than half the overall average, a savings of more than $3,000 per year.
Farm Bureau, Erie and USAA offer the cheapest rates for 18-year-old drivers. These three companies have an average price that is 47% cheaper than the overall average price for drivers of the same age.
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USAA and Erie are not available for most drivers, and Farm Bureau options may vary depending on where you live. If you're looking for the safety of a national insurer, Travelers offers a cheaper-than-average annual rate of $3,219 with accident forgiveness options and more discounts for young drivers.
Gender also plays a role in car insurance costs. Over a lifetime, men pay about 9% more than women, although the price difference varies by age.
For example, up to the age of 21, men pay an average of 13% more than women. The gap narrows after age 30, with female drivers' rates less than $20 a year cheaper by their mid-60s.
Young drivers pay more because statistics show that teenagers are inexperienced, making them more likely to be involved in an accident compared to other age groups.
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Your rates will be higher because your insurance company believes that you are more likely to have an accident at a younger age. Experienced drivers between the ages of 30 and 50 have better driving skills and road maturity, which usually means fewer accidents.
As drivers reach their 60s, the trend slowly begins to reverse as age and slower reflexes begin to affect driving. Insurance companies usually start charging the highest premiums for seniors who reach the age of 70. An 80-year-old driver pays slightly more than a 25-year-old.
The most effective way to save money on car insurance for young and older drivers is to shop around, apply for discounts and join other people's policies.
We recommend that you get quotes from at least three companies. Most major insurance companies allow you to start an online quote, which makes it easy to compare prices.
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By maintaining good grades (for young drivers still in school) and taking defensive driving courses, drivers can save up to 10% on car insurance costs.
For bigger discounts, companies like Allstate offer "55 and Retired" discounts, where safe, retired drivers over the age of 55 automatically get a 10% discount. Some companies allow drivers over 55 to take defensive driving courses to qualify for discounts.
We've found that joining your parents' car policy is about 62% cheaper than starting your own as an 18-year-old driver.
This is because your parents are taking on some of your risk as a young driver, so insurers are comfortable offering a lower rate.
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However, note that the parent rate will increase significantly. If they're still willing to include you, that's a surefire way to get a lower price.
Pricing data were collected using Quadrant Information Services. Your prices will vary as prices are for comparison purposes only. Prices are obtained openly from insurance companies.
To get an insurance quote over the phone, call: (855) 596-3655 | Agents are available 24 hours a day, 7 days a week! Many teenagers can't wait to get behind the wheel of their first car. What hinders their excitement is finding affordable car insurance policies. Unfortunately, car insurance for young drivers can be expensive. There are some great deals on the market, but only if you know where to look.
For this study, we analyzed quotes from over 50 car insurance companies available on 2 major comparison sites to find the cheapest comprehensive plans for new, young drivers in major English cities.
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The team collected sample quotes from 50+ UK car insurance companies to find out which are the most affordable for young drivers, based on an 18-year-old male student. Among them, the cheapest brand of car insurance for young drivers was General Accident Insurance (GA), the results showed. Overall, the data showed that GA was, on average, about 62% cheaper than the average of all quotes received for a young driver, and even 18% cheaper than the average of the three cheapest car insurance quotes for a young driver.
Several brands come from the UK's biggest motor insurers - for example General Accident is part of Aviva and Churchill and Privilege are both part of Direct Line. You'll find that these big car insurers may not have competitive rates for young drivers with their regular car insurance or parent company brand (such as Aviva or Direct Line), but they may have offers through these other brands (such as General Accident or Privilege). .
In the table below, you can see the 15 cheapest insurance companies for young drivers in our research and their premiums and deductibles for our selected young drivers. Please note that your offers may vary and you may find that a different provider is the cheapest for you. Quotes in this article represent test driver data and should be used for informational purposes only.
Unfortunately, not all cheap insurance companies are available in all areas of the UK. For example, in our survey of England's 10 biggest cities, we found that young drivers in Manchester are offered 45% fewer deals, meaning many insurers don't offer cover for young drivers in some areas. In addition, the average price of young driver insurance in Manchester is 2 times higher than in some other major cities in England. Read more in our article on comparing car insurance costs for young drivers by area.
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According to our research, General Accident Insurance was the cheapest general insurer for young drivers in Birmingham, Leeds, Sheffield, Bradford, Manchester and Liverpool. The average GA cost across these cities was £1,569 per young driver, almost 63% less than the average cost of all insurers in our study.
If you live in any of these areas, GA may be your best bet for affordable insurance. However, More Than's Smart Wheels, Churchill Drivesure and Ingenie were competitive insurance options for young drivers, with the second, third and fourth cheapest average car insurance for young drivers in the north of England respectively.
For those in the Southwest or Southeast, a total accident was usually the cheapest car insurance for young drivers. GA prices for our young driver model in London and Bristol were £1,027 and £991 respectively.
The cheapest insurance in your city may not reflect the cheapest insurance companies we have listed above. While General Accident, More Th>n Smart Wheels and Ingenie are usually in the top three for major cities in England, there are some brands that are cheaper but only offer cover in select areas. See below to see the best option in your area.
Staying On Your Parents' Health Insurance
If you haven't bought a car yet, choose carefully because the cost of insurance can vary dramatically depending on the make and model of the car. You might be surprised at the difference in costs. For example, the ever-popular Ford Fiesta costs £200 less per year to insure on average than a Ford Focus. For more information, see How much does the most popular car insurance cost in the UK?
Add a responsible driver to your policy, such as your mother, father or sibling. You it's yours
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