The thought of purchasing car insurance for your teenage driver might be enough to turn some hairs gray. But teen or young driver insurance doesn't have to go broke. Finding the cheapest auto insurance for your young driver is as easy as shopping and looking for discounts that can lower your premium rates.
But price isn't the only consideration when shopping for a college-bound teenager or young adult. You should also look for service providers that offer optional coverages and programs that can protect young drivers, such as roadside assistance and usage-based insurance that allow you to control your driving habits.
Best car insurance for teens
Finding the best auto insurance for your teenager begins with finding the best service providers. These are some of the best options.
Geico
Among the insurance companies we look to, Geico offers the best rates for teen drivers. We requested a quote for a separate policy for a teenager living in San Francisco, California and were satisfied with the rate we received.
For an 18-year-old driver driving a 2018 Toyato Camry, you get $ 15,000 / $ 30,000 in bodily injury coverage, $ 5,000 in property damage liability coverage, and $ 15,000 / 30,000 in uninsured and uninsured motorist coverage . For them and $ 35,000 in uninsured property damage, we received a six-month premium quote of $ 667.
Teen parents can earn up to a 25 percent discount on various auto insurance, and teens with a "B" or higher average in school can enjoy up to a 15 percent discount on Geico auto insurance. .
State farm
Other airlines can't beat the discounts State Farm offers to teen drivers. New drivers under the age of 21 can receive a discount when they complete an approved driver training course and their fees are further reduced when they maintain a clean driving record for three years.
Unlike other providers, State Farm allows teens to keep their discounts throughout their college years. A high school student with good grades can enjoy a discount of up to 25% up to age 25 if they continue to get good grades. If teens leave their cars at home when they go to college, they may qualify for a student discount away from home.
Progressive
Progressive Snapshot provides peace of mind for parents and potential savings for teen drivers. Usage-based insurance rating software uses remote communication to monitor the driver's driving habits. Instant registrants install a mobile app that monitors driving habits such as acceleration, braking, mileage, and phone usage. After the trip, parents can review their children's driving performance and teens can receive driving tips to improve their driving skills.
Progressive claims Snapshot users receive an average subscription discount of $ 26, and users who maintain good driving styles receive discounts of approximately $ 145 per year, on average. Progressive Snapshot is not offered in all states.
The best car insurance for young drivers
The best car insurance for teens may differ from the best option for teens. These are the best auto insurance providers for older drivers.
Geico
For the youngsters, Geico again comes with the lowest auto insurance rates. We requested a Geico auto insurance quote for a young adult living in San Francisco, California and got a great rate.
Using the same profile as before, except that our driver is 25 years old and an assistant manager, we receive a six-month premium of $ 254.
Recent college graduates can also receive alumni discounts and fraternity membership or sorority affiliation. Young men in the US Armed Forces can get up to 15% off, plus additional savings when deployed.
Nationwide
Young people can save money on auto insurance when they enroll in the Nationwide SmartRide program. Usage-based insurance rating software uses a plug-in to track acceleration, braking, idle time, mileage, and night driving. Since most college students living on campus spend less time behind the wheel, limited driving and good driving habits can result in significant savings.
Policyholders nationwide receive a 10 percent discount when enrolling in the program, as well as a discount of up to 40 percent for maintaining safe driving patterns. College students can also get a discount if they maintain at least a "B" average, plus additional savings for membership in an alumni union, professional group, or sports association.
State farm
Young people need all the help they can get to overcome the challenges of college life or leave the nest to start their own families. State Farm makes life a little easier for teens with an exceptional roadside assistance program. The document supplement covers battery starting, fuel delivery, locksmith service, towing, and up to one hour of road mechanic work.
Youth can also earn up to a 17% discount when purchasing auto and rental insurance and up to 20% discount if they insure more than one car.
The average cost of car insurance for teens and young drivers
Age and gender are important factors insurance companies use to determine teen auto insurance rates. On average, a 16-year-old pays $ 2,661 for an annual premium. When they reach 19 years old, boys pay an average of about $ 1,346.
24-year-olds pay an average of around $ 724, while 39-year-old drivers pay an average of $ 599.
Always consider national averages with caution because insurance companies take many factors into account when determining auto insurance rates.
How are prices for young drivers determined?
Insurance companies set insurance premium rates for teens in the same way that adults do. Classification factors include:
- Age: Drivers 29 and younger tend to pay more for auto insurance, statistically causing more accidents than drivers 30 and older
- Make and Model Cars: Late model cars and higher tag price cars cost more for insurance than more modest vehicles. Insurance companies also charge higher rates for fast sports cars and electric vehicles.
- Credit: Most states allow insurance companies to use your credit score when calculating the rate on your policy. People with bad credit tend to pay much higher rates than consumers with good credit scores.
- Gender: Men tend to pay higher rates than women for car insurance, even if they have a clean driving record.
- Location: Car owners who live in areas prone to auto theft and vandalism pay more for auto insurance.
- Mileage - The more you drive, the more likely you are to be in an accident. Typically, people who only use their cars sometimes pay lower prices than people who drive several miles every day.
- Types and Amount of Coverages: Drivers who purchase only mandatory coverages, such as property and personal injury insurance, pay much less for auto insurance than drivers who also purchase comprehensive and collision insurance. If you own your car in its entirety, you can buy the required coverages in the state, but if you finance a car, the lender will require you to purchase collision and comprehensive insurance.
Since these variables will change your rate from one provider to another, always get multiple quotes before you settle with an insurance company.
Youth and young driver discounts
Almost all auto insurance companies offer discounts for drivers and some even offer special discounts for younger drivers. Finding a company that offers discounts that suit your driving habits may be the best way to get affordable car insurance.
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