Cheap Car Insurance For Young Drivers: Being a parent or a guardian of your children is always a challenging task, particularly when you have young kids. When your young children get eligible to drive, the first thing that you want to ensure is their safety. And for this what can be more better than Auto Insurance. This will protect your kids from any happening such as a Car Accident.
Whether you are paying for this insurance or your child is paying from his/her pocket, it is still an extra expense for your family. However, a variety of Car Insurance gives you a wide range of options to choose from. It ranges from cheap to expensive, but for young drivers, you can easily get less expensive Auto Insurance. If you need more information about the same, then read this article to get major details about auto insurance for young drivers.
Table Of Contents
- 1 Is it Easy to get Cheap Car Insurance for Young Drivers?
- 2 What Is The Average Cost Of Car Insurance For Young Drivers?
- 3 Can An 18-Year-Old Is Eligible To Get Their Independent Car Insurance?
- 4 What Are The Best Companies For Young Drivers To Offer Auto Insurance?
- 5 What Is The Average Insurance Rate For 25-Year-Old Male And Female?
- 6 What Are The Best Providers For Parents With Teen Driver To Get Auto Insurance In Cheap Rate?
- 7 Conclusion
Is it Easy to get Cheap Car Insurance for Young Drivers?
Getting Car Insurance is not a tough job whether it is for young or old drivers. However, finding the right one for you involves time and good research. But, if you want cheap auto insurance for young drivers, it will definitely need proper study about the auto insurance companies as it is not that easy to get. And for the old age drivers, getting cheap car insurance is easy to find.
The reason behind this is that our young drivers between the age of 20 and 25 years are considered not to be highly experienced as compared to the old-age drivers. Therefore, they are likely to be risky to others on road based on their less experience. Because of this, it is quite difficult to find cheap car insurance for young drivers, but if you do thorough research, you might find some options close to your expectations.
What Is The Average Cost Of Car Insurance For Young Drivers?
As we have said above, young drivers need to pay more as compared to old drivers when it comes to car insurance due to their to age and experience. Therefore, a study from NerdWallet reveals that the car insurance rate on an average for young drivers is around $2,240 per year. This rate also includes full inclusion and it is estimated based on the top five major auto insurance companies in the United States. If we estimate the same for an old or experienced driver such as a 40-year-old, the car insurance rate is very less and it is $1,523 per year.
Can An 18-Year-Old Is Eligible To Get Their Independent Car Insurance?
Yes! An 18-year-old is eligible for getting his/he own insurance strategy. However, it is going to be way more expensive as teenagers are considered to get involved in accidents quite easily because they are inexperienced. Therefore, it is advised to get added to the insurance strategy of your parents, which will be way more cheaper and affordable than the Independent auto insurance.
On average, an independent insurance policy of a teenager might be around $3,580 per six months. On the other hand, it will be around $1,500 per six months if you add a teenager to a car insurance plan. So, you can clearly see a big difference and you can go for the affordable one, but do your research first as some companies and states don’t accept that.
What Are The Best Companies For Young Drivers To Offer Auto Insurance?
The USAA is one of the Best Auto Insurance Companies that also offer cheap car insurance annual rates for the young drivers in the country. However, one must take note that it only provides its services to the veterans as well as their families. But, what if you don’t have a military background? Then another best auto insurance provider, Geico, is a great option for you. On average, the company also offers the cheapest accident coverage rates. The five best auto insurance companies that you can find in the United States are State Farm, Allstate, Progressive, USAA, and Geico.
USSA and Geico’s full coverage and minimum coverage consist of $1,651 & $1,711 and $599 & $594 respectively. Talking about the full coverage of Allstate is $2,996, while the minimum coverage is $910. Meanwhile, State Farm and Progressive full coverage and minimum coverage include $2,383 & $2,467 and $905 & $893 individually.
What Is The Average Insurance Rate For 25-Year-Old Male And Female?
If you are a 25-Year-Old driver, then the auto insurance rate will be pretty less than the 18-year-old. However, there’s a slight difference between the costs when it comes to gender. A 25-year-old female will need to pay less for the Car Insurance to some extent rather than a 25-year-old male.
On average, the 25-year-old male driver will pay $283 per month, while the female drivers have to pay $275. Meanwhile, the cost will rise if the age is less, for example, the 24-year-old male and female drivers will pay an average of $321 and $306 respectively per month. On the other hand, the 23-year-old male and female drivers will pay more average insurance costs i.e. $344 and $326 individually per month.
What Are The Best Providers For Parents With Teen Driver To Get Auto Insurance In Cheap Rate?
Teenagers are very young and therefore they are more prone to get involved in accidents due to their very little experience. This is the reason, the rates for their Car Insurance are quite expensive, compared to more experienced ones. If you are a parent of a teenager who has now been qualified for driving, then instead of buying an independent insurance policy for him/her, you can add them to your own plan.
This will be an easy method to get the insurance at a cheap rate, because an independent car insurance policy will cost more, making it more affordable. However, one should take note that this approach is only acceptable by certain companies and it also differs by state law. So, make sure to check whether your state or your provider allows this kind of policy. Some of the companies that might be in your mind along with their insurance rates are Nationwide ($1,703), State Farm ($2,588), Allstate ($4,527), Progressive ($2,616), Geico ($1,716), Erie ($1,266), and USAA ($1,294).
Overall, if you are looking for Cheap Car Insurance particularly for young drivers, then you should consider State Farm, Allstate, Progressive, USAA, and Geico. These are the top five auto insurance companies that you can find in the United States which will offer a wide range of policies to choose from. If you have any queries regarding this information, you can ask us in our comment section.