#CAR INSURANCE Price For 18 Year Old
How much is car insurance for an 18-year-old? The average price of a year of bare-bones coverage for an 18-year-old woman is $1,769, for men that age it's $2,030, according to a rate analysis by CarInsurance.com. Here is how much it costs for seven different coverage levels for drivers age 18, broken down by state. The average car insurance rate for an 18-year-old is nearly $400 per month (or $4,800 per year). Learn more about the best cheap car insurance companies for young drivers.
Car insurance for a 18-year-old driver is nearly $5,190, on average, for a year of full coverage on their own policy. That’s more than $3,430 over the national average ($1,758) for drivers age 30. Newly licensed drivers are expensive to insure. They are inexperienced, naturally, and have a high rate of accidents. Auto insurance companies view that as risky. So, they charge new, teen drivers much higher rates.
How much does car insurance cost for 18-year-olds? Car insurance premiums are generally higher for younger drivers. For example, a fully comprehensive car insurance policy costs on average £1,028 for people aged 17 to 19 – however the older you get the lower the premiums go. Although 18 year olds are considered adults and can vote, when it comes to car insurance, 18 year olds are still grouped together with 15, 16 and 17 year old drivers. Therefore, insurance rates for 18 year olds will be almost identical to those of younger drivers.
A flashier, faster sports car or one that costs a lot to repair will raise costs more than a sedan. In an interview with MSN Autos, Bob Hunter, director of insurance for the Consumer Federation of America, said his family opted for an older car for their teenage son, which kept the insurance at $300 a year rather than $700 for a newer car.
Why is car insurance so expensive for 18-year-old drivers? Unfortunately for the thousands of careful, sensible young drivers on UK roads, the facts paint a bleak picture. Drivers age 16 to 19 are a third more likely to die in a crash than drivers age 40-49, according to the Department for Transport. A young driver with a fully comprehensive telematics insurance policy on a three-year-old, 1-litre car of low value can expect to pay around £1,500 in the first year. A brand new Audi A3 is likely to cost in the region of £7,000-£8,000 to insure.
If you have a car, you’re going to need car insurance, but finding out the average price of insurance is tricky because not everyone agrees. According to the Association of British Insurers (ABI), the average cost of car insurance in the UK for comprehensive cover costs £485 a year. Average Car Insurance Cost for Young, Teenage Drivers. Car insurance rates for teens are easily in the range of £1,000 to £2,000 a year, or more. Teenage drivers are the most risky age group, and therefore pay 2X to 3X what an experienced driver would pay for car insurance.
For a 18-year-old driver, car insurance is nearly $5,925, on average, for a year of full coverage on their own policy. That’s more than $4,000 over the national average ($1,758) for drivers age 30. Newly licensed drivers are expensive to insure. To find the average rates in our study for high insurance coverage, we created driver profiles for males and females in each of the following ages: 25 years, 35 years, and 60 years. The profiles also have a clean driving record, insurance coverage for 12,000 miles per year, and a good credit score.
The Dodge Charger is a mid-range sedan that’s somewhat pricey to insure. The average insurance costs for a Dodge Charger is $173 a month, or $2,076 a year, about $700 more than the average car. With a base price of $27,995, the annual insurance cost–to–base car price ratio is 7.4%, higher than the national average of 4%.
Why is car insurance more expensive for 17-year-olds? Insurance is based on risk levels, and statistically 17 and 18-year-old drivers are at a much higher risk of crashing than older age groups. Drivers aged between 17 and 19 were involved in 9% of fatal and serious crashes, even though they only accounted for 1.5% of UK licence holders. And drivers under the age of 19 are a third more likely to die in a crash than drivers aged 40-49.
The average cost of car insurance for 18 year old females is generally cheaper than that for 18 year old males. Average car insurance rates by age show that premiums begin to decrease significantly when drivers turn 26. Geico does not offer car insurance to solo minors reducing our total number of quotes from 540 to 522.
At what age does car insurance get cheaper? Typically, at the age of 18, premiums started to decline rapidly. For instance, in our study on auto insurance for new drivers, the average premium for a 16-year-old was $1,072 per month, for an 18-year-old it was $789, and for a 21-year-old it was $430. 3. Who has the most affordable car insurance?
