Car Insurance For Teens Price - Based on our analysis of thousands of plans in nine states, the average cost of insuring a 16-year-old is $813 per month for full coverage. On average, 16-year-old boys pay $63 more per month than girls.
According to our analysis of thousands of plans in nine states, Erie has the cheapest auto insurance for 16-year-old drivers at $311 per month. While car insurance can be expensive for 16-year-olds, you can save money by sharing an insurance policy with your family, getting quotes from multiple insurers, and maximizing the number of discounts you get.
Car Insurance For Teens Price
16-year-olds can expect to pay an average of $813 per month for car insurance. At the various insurance companies we analyzed, rates ranged from $311 to $1,141 per month for full coverage, highlighting the importance of getting quotes from multiple insurers.
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Erie offers the cheapest insurance for 16-year-olds with a monthly rate of $311. With Erie only available in 13 states, Farmers is the cheapest option available statewide at $415 per month.
Insuring a 16 year old driver can be very expensive. The cost of insuring a 16-year-old driver is more than double the average cost of insuring a 25-year-old driver. A 16-year-old can expect insurance costs to drop by an average of 9% by age 17.
The average cost of car insurance for 16-year-old female drivers is generally less expensive than male drivers. This is because young male drivers tend to exhibit riskier driving behaviors compared to young female drivers. B. Speeding or drunk driving.
Car insurance is much more expensive for 16-year-old drivers as they are more likely to be involved in accidents than older drivers. According to the Centers for Disease Control and Prevention (CDC), teen drivers are three times more likely to be involved in a fatal accident than other drivers.
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Rates are also higher for 16-year-olds because insurance companies do not have available data to base their models on. Car insurance rates depend in part on your driving history, because someone who has been accident-free for several years will pay less for insurance than someone who has been in multiple car accidents.
But for these young people, who often have had their licenses for a year or less, insurance companies have little data on which to base their decisions. This means higher costs for any young driver, no matter how careful they are.
Geico and State Farm are generally the cheapest insurers, as both companies are the cheapest options in the three states. Below are the cheapest insurance companies for a 16-year-old in our nine sample states.
In most cases, you'll need to add your 16-year-old son or daughter to your car insurance after they get their driver's license. Some states require it by law, and many insurance companies also require it. While not required, it's a smart idea to make sure they're all covered by your car insurance.
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Normally, you only need to add a licensed driver to your policy. If your 16-year-old has not passed the driver's license test, it usually does not need to be listed on your policy.
The number one way to save money on car insurance at age 16 is to participate in your family's insurance policy rather than buying your own. A 16-year-old man can reduce his rates by 45% by taking part in his family's car insurance.
Some insurance companies require you to have a common policy for all family members. Even if you can buy your own policy, your parent will likely need to approve the arrangement - an insurer won't allow you to buy a policy yourself if you're a minor, because minors can't legally sign a contract.
Many states have laws restricting how and when 16-year-olds can drive, even after passing their driver's exam. Teen drivers often have intermediate licenses, also called temporary or restricted licenses, that come with restrictions that adult drivers don't have.
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For example, 16-year-old drivers are not allowed to drive between 11 pm and 11 pm in Florida. and 6 a.m. In California, 16-year-olds cannot board passengers under 20 unless supervised by a driver who is 25 or older.
Car insurance rates for 16-year-old drivers are very high, but there are ways to lower your monthly premium. It's best to join a family member's policy rather than buy your own.
Each insurance company offers different rates, and the inconsistency is huge, especially when it comes to teenagers – choosing one insurer over the other can save you thousands of dollars a year.
However, the cheapest insurance companies for 16-year-old drivers vary by region. You should get quotes from several different insurance companies to ensure you pay as little as possible.
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To offset the high cost of insurance for 16-year-olds, many insurance companies offer various discounts specifically aimed at younger drivers. Here are some common cuts to watch out for.
If you or your family are buying a new or used car for use when you turn 16, an important consideration is how much it will cost to insure it. The price of car insurance varies considerably by car model – for example, in our research of the cheapest cars to insure, we found that the car with the lowest monthly fees, the Honda CR-V, was 33% cheaper than the Ford Mustang
It may be tempting to buy a fun or fast car like a Mustang, but it's probably much more expensive to buy, drive and insure than a car like a Honda Civic. It is also more expensive to repair a sports car in the event of an accident.
One of the easiest ways to lower their insurance bills for teens is to reduce the amount of insurance they pay. The most commonly removed parts of car insurance are the collision damage waiver and collision protection, which pay for your own vehicle's repair. If your car is damaged in an accident and it's not someone else's fault, the collision covers you. Comprehensive insurance covers damage not caused by a collision, such as vandalism or theft.
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Both coverages are optional unless you have an auto loan or lease. If your car is older and not worth that much money, it's usually a better idea to throw out collision and collision insurance. This is because the maximum possible payment of the coverage – the cost of replacing your car – is usually less than the cost of the coverage. However, you should only remove these covers if you can afford to repair or replace your car without them.
For 16-year-olds who easily agree to their parents' policy, getting behind the wheel can be as easy as calling your insurance agent or visiting your insurer's website.
However, adding a 16-year-old to auto insurance is an ideal time to check with other insurers how much they charge for their coverage and consider switching insurance companies to save money.
Yes, a 16-year-old can take out their own car insurance. However, besides being more expensive, it will likely be an extra step in the process.
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A parent will likely need to approve or co-sign the agreement, as minors cannot sign legally binding contracts.
Our study used auto insurance quotes from thousands of zip codes in nine of the most populous US states. Our sample drivers were 16-year-old boys and girls driving the 2015 Honda Civic EX. All other parameters affecting the motor insurance rates were kept constant.
Our study included 29 insurance companies, but the insurance companies' rates were included in our list of average rates and recommendations only if their policies were available in at least three of the nine states.
Analysis of insurance rate data collected by Quadrant Information Services. The tariffs used were obtained from publicly available insurer documents. The prices given in this study should be used for comparison purposes only, as your own offers may differ.
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To get an insurance quote by phone, call (855) 596-3655 | Representatives are at your service 24 hours a day, 7 days a week! Car insurance companies consider a number of factors, including driver experience, to determine rates. Novice drivers pay higher premiums because they are more frequently involved in accidents. For insurance purposes, newly registered young people, immigrants and foreigners, older drivers who have never had a license, or those with vacancy in driving or insurance coverage are considered new drivers.
We've collected tens of thousands of car insurance quotes from every Texas zip code to find the lowest rates. Rates applied to new drivers aged 16, 17, 18, 21, 25, 35, 45, and 55, and to 16-year-olds on both their 50-year-old parents' policies.
Allstate offers the cheapest auto insurance rates with minimal coverage for first-time drivers under 25. On average, new drivers can expect to pay $2,743 per year for insurance. However, Allstate's policy costs 56% less than $1,205 per year.
New drivers seeking comprehensive insurance will find the best prices at State Farm, where a policy costs $3,308 per year.
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