Cost Of Car Insurance For Teenagers – The average monthly car insurance premium for a 17-year-old is $489, which equates to $5,864 a year. Car insurance is cheaper for 17-year-olds than it is for 16-year-olds, but it’s still more than most drivers pay for insurance.
On average, COUNTRY Financial has the cheapest car insurance for 17-year-olds, while State Farm is the nation’s cheapest insurance provider for 17-year-old drivers. Both companies that offer car insurance for 17-year-olds are thousands of dollars. cheaper per year on average.
Cost Of Car Insurance For Teenagers
Average car insurance for a 17-year-old is $489 per month. Based on driving experience compared to adults, we found that 17-year-olds paid $4,212 more per year than older drivers (ages 30, 35, and 45).
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It is still possible to get car insurance for 17-year-olds. We found that COUNTRY Financial has the lowest car insurance comparison rates for 17-year-old drivers.Because COUNTRY does not operate everywhere, State Farm has the cheapest rates for 17-year-olds among the major car insurance companies.
Over 17 years, the price difference between the company with the cheapest and most expensive car insurance rates is $921 per month. That means if you don’t compare the cost of insurance before you buy, you could be facing thousands of dollars more in annual premiums than you otherwise would.
While car insurance is usually quite expensive for 17-year-olds, it’s actually more expensive for 16-year-old drivers because they’re new to the road. We found that insurance coverage for 17-year-olds is 13% higher than for drivers who are just one year old.
As drivers get older and more experienced behind the wheel, car insurance rates drop. Therefore, car insurance for 18-year-olds is on average 16% less than for a 17-year-old. By the time a driver turns 25, the average price is 67% lower than the average price for a 17-year-old car. old
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In fact, 25 is generally considered the point at which young drivers enter the high-risk category, and rates often drop at that point.
Insurance rates for 17-year-olds (and other young drivers) are more expensive due to their lack of driving experience. A 17-year-old has a year or less of experience compared to someone who has had a driver’s license for almost ten years or more.
That’s why teenagers have more accidents and make more expensive claims than older drivers. Fortunately, as you gain driving experience, your rates will drop. Every year before you turn 25, your insurance costs can drop significantly (as long as you keep your car clean).
It is cheaper for a 17-year-old driver to buy his family’s insurance than to buy his own. We found that adding a young driver to an existing car insurance policy costs $187 per month.
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On average, car insurance for a 17-year-old child and a parent or guardian policy costs $302 per month, or $3,625 per year.
Male drivers under the age of 17 have more expensive car insurance than their female counterparts. On average, 17-year-old boys pay $64 more per month (or $765 per year) than girls of the same age.
Car insurance companies use a lot of data to determine your risk of getting into a car accident, and car insurance costs more for teenage boys than girls because of the higher number of accidents involving male drivers. However, some states do not allow gender differences in insurance rates, including:
While car insurance costs 17-year-old male drivers $64 more per month than female drivers, the difference varies by company. The cheapest company for male drivers compared to female drivers is NATIONAL, where the difference between what male and female drivers pay is $19 per month.
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On average, coverage for 17-year-olds costs $489 a month — but prices vary depending on where you live and other factors. Average car insurance in the least expensive state is $9,925 less per year than in the least expensive state.
Hawaii is the cheapest state for car insurance for a 17-year-old. Young drivers pay an average of $117 a month to get insurance in Hawaii instead of the illegal age-based rates. In Louisiana, where rates are already the highest in the U.S., car insurance for a 17-year-old costs $944 a month — more than $11,000,000 a year.
Rating How we rate: ‘Ratings are determined by our editorial team. Our approach uses a number of factors including price, financial ratings, quality of customer service and other product features.
COUNTRY has the lowest rate for 17-year-old drivers of any agency, even though it exists in only 19 states.
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COUNTRY Finance has the cheapest rates for 17-year-old drivers. Car insurance from COUNTRY costs an average of $253 per month or $3,036 per year. However, since NATIONAL only offers insurance in 19 states, not everyone will be able to take advantage of its affordable rates.
Residents of the state in which NATIONAL operates can purchase additional coverage at discounted rates for children under 17 years of age. Drivers can add additional insurance to their policy:
The state also offers young drivers discounts such as savings for completing a minimum traffic safety test, maintaining a high GPA and completing a safety education course.
Although NATIONAL has had the cheapest car insurance for 17 years, it is the cheapest in only three states – Alabama, Nevada and Oregon. State Farm is actually the cheapest car insurance for 17-year-olds in the 10 states that offer the most.
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USAA is also the cheapest car insurance in most states for 17 years. But it’s only available to military personnel and their families, so it’s not an option for many drivers.
While car insurance premiums for 17-year-olds are higher than average, young drivers still have ways to save on car insurance. If your terms are high when purchasing insurance or you are paying more for an existing policy, you should:
The best way to make sure you’re getting the best rate is to compare quotes from major insurance companies in your area and then shop around when your policy is due. This way, you can be sure to get the lowest price based on your driving history, age and location.
COUNTRY Financial has had cheap auto insurance for 17 years, but only offers coverage in 19 states. State Farm is a low-cost insurance company that provides national insurance.
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Car insurance rates for 17-year-old girls are cheaper than for boys of the same age. Female drivers pay $64 more per month than their male counterparts, although this can vary by company.
Teen drivers with clean records should see their premiums drop every year until age 25 because they’re in the high-risk group. And if you continue to drive safely, meet the no deductible requirements, and no accidents can help you save a lot of money.
It found the cost of car insurance for 17-year-old drivers using rates provided by Quadrant Information Services for each zip code in all 50 states and Washington. For 2017 Toyota Camry LE with 10,000,000 miles per year. These prices reflect the average price of 16- and 18-year-olds and are intended to be distributed within the following limits:
To find the cost of adding a 17-year-old driver to an existing policy, we calculated the average cost of adding a 16-year-old driver to a family policy and then used the percentage difference between ages 16 and 17. -old drivers in this figure.
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Rachael Brennan is a senior author and certified auto insurance expert. His work has also appeared in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.
Andrew Hurst is a senior writer and auto insurance expert. His work has also appeared in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Journal, ValuePenguin and Property Casualty 360.
Maria Filindras is a financial advisor, licensed health and life insurance agent in California, and a member of the Financial Review Board. We found that the cost of car insurance for 18-year-olds carries the cost of Quadrant Information Services. Our data experts analyzed the rate for every zip code in all 50 states and Washington DC. For 2017 Toyota Camry LE with 10,000,000 miles per year. These prices are fully calculated with the following limits:
Some carriers may be represented by affiliates or subsidiaries. Pricing is provided by a pricing model. Your exact words may vary.
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Average car insurance for an 18-year-old is $411 per month. That’s $4,931 a year, which is $3,279 more than the average insurance price for adults (drivers ages 30, 35, and 45).
Although rates are higher for 18-year-olds, young drivers can get cheaper car insurance rates from different companies. For example, 18 year old prices