Teenage #CAR INSURANCE Average Cost
The Cost of Teen Car Insurance Teenagers pay an average of $397 a month for an individual car insurance policy, while parents who add a teen driver to their policy can expect to pay an extra $187 a month. That means adding a teen to your policy increases rates by 168%, on average. How much is car insurance for a teenager?
Insurance rates are different for everyone. But the fact is that car insurance is much more expensive for teen drivers. According to our studies, teens can expect to pay about $233 per month for car insurance. Remember, depending on your specifics, this number could be higher or lower. A: The short answer: a lot. The exact cost depends on several factors like car make and model, coverage levels, location, and more. According to our study, it costs $193 per month to add a teenage boy and $180 per month to add a teenage girl to a parents policy.
Car insurance for a 16-year-old of any gender is always expensive. We surveyed three of the largest insurers and found that both boys and girls who just received their licenses can expect to pay $5,944 on average for 6 months of auto insurance. We found a striking price difference among the insurers we analyzed.
The average price for teen car insurance is around $2,150 per year. Being that this is a national average, teen drivers can expect to pay anywhere from $1,200 to $4,850 for car insurance on an annual basis. Compare this to the national average for all drivers, which is around $1,700 per year. How much does insurance cost for a 17-year-old male? The national average to insure a 17-year-old for car insurance is $5,925, which is 237% more than what adults over 30 pay. By comparison, the national average for adults is currently $1,758 a year. Specifically, that’s for teens between ages 16-19.
How much does car insurance cost for teenage drivers? Car insurance is generally far more expensive for younger drivers , and teenagers take the brunt of this – in the last year, drivers aged 17-19 paid on average £1,707 for cover, almost £600 more than 20 to 24-year-olds and over £1,000 more than drivers between 30 and 39.*
Just 0.2-litres of engine size can increase insurance costs by £250, while a higher spec could push the car into a higher insurance group even without bringing any more power. And if your teen is keen to modify their car, gently remind them that fancy alloys or a souped-up exhaust will also bump up the cost. The cost of car insurance is higher for teenage boys than teenage girls because they are more likely to have an accident. Male vs. female car insurance rates can differ by as much as $292/month.
Teenage Car Insurance Compare quotes for Black Box or Non-Black Box policies, for learner and fully licenced drivers. If you're a teenage driver looking for their first car insurance, or a parent trying to help their child get the best deal, it's good to know you've got options. 4 Young Drivers specialises in helping young drivers find great policies at at price they can afford.
Adding a teenage driver to your car insurance policy can hike your annual premium by as much as $3,500. It's a fact that young teen drivers are involved in far more accidents than even those in their early 20s. Young drivers are far more likely to get into car accidents than older drivers. The risk is highest with 16-year-olds, who have a crash rate twice as high as 18- and 19-year-olds. That risk is reflected in the average car insurance rates for teenagers: 16-year-old - $3,989. 17-year-old - $3,522. 18-year-old - $3,148.
Teenage drivers, especially males, pay more for car insurance than any other age group. Insurance companies cite statistics to determine the amount of risk to all drivers, and these numbers don’t favor the youngest drivers. Teenage boys pay larger premiums than teenage girls. Insurance companies will let you add a young driver to the parent's policy until the driver reach 25 years of age, provided the teen lives at home and is not an emancipated adult. Teens can also reduce the average cost of car insurance by driving an older car and keeping good grades in school.
What is the average cost for teenage car insurance? It’s no secret insurance for teen drivers can be expensive; they have a greater tendency to drive distracted, speed, tailgate, and not wear a seatbelt. That risk can result in higher car insurance rates. The exact price, however, can vary greatly based on age, ZIP code, driving history, gender, and type of vehicle.
The average annual rate quoted for a teen driver is $2,267. (This average includes all liability coverage levels.) Compare that to an average cost increase of $621 for adding a teen to the parents’ policy — that means you’ll pay 365 percent more by putting the teen on his or her own policy. The average cost of a car insurance policy is $937 per year, or $78 per month for a policy that meets the minimum requirements of each state. But the price of your policy will be unique to your situation. Compare rates to find savings and learn how much car insurance costs for you.
These numbers are alarming and as a result, teenage car insurance rates are very high. On average, teenage boys may pay around $4000 annually for car insurance while females may pay around $2700 annually for the same coverage in Ontario. How Can Teens Save on Car Insurance in Ontario. There are many ways to reduce car insurance rates for teens.
Why Teens and Students Need Car Insurance. Considering how much it costs, it might be hard to comprehend why you need to get car insurance for a newly licensed driver in your household. However, it’s the law. Everyone who drives needs car insurance, and teens and students are no exception. What Is The Teenage Girl Car Auto Insurance Average Cost Per Month Allstate Monthly A Teenager
