Auto Insurance Prices for Teenagers
Because most insurance companies consider young drivers high-risk drivers, auto insurance prices for teenagers are, on average, higher than rates for older drivers. But with available discounts and a little research, you can find affordable auto insurance rates for teen drivers.
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UPDATED: Dec 6, 2021
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- Teaching your children how to drive can one of the most difficult things you ever do
- People under the age of 25 are usually considered high-risk drivers
- Teen driver safety should be of utmost importance to parents
- Males tend to cost more to insure than their female counterparts
One of the toughest things that most parents ever have to do is to teach their kids how to drive. The next hardest thing might be helping kids pay for car insurance after they have learned the rules of the road and earned a license.
If you were ever shocked by how much it costs to properly insure your car after you put a young driver on your policy, you probably wondered why the premiums were so expensive.
It might seem unfair, but higher rates for teens and young adults are based on the fact that young drivers tend to make more claims, so insurers consider them risky.
Find the best rates easily with our FREE comparison tool at the top of this page. Just enter your ZIP code in the box above to get started!
Are car insurance prices only higher for teen drivers?
In fact, both teens and senior citizens get labeled as risky drivers by most insurers. Young drivers usually have good eyesight, hearing, and reflexes, but they lack experience.
Insurers also believe that they tend to be more willing to take risks than older drivers, and they especially believe this about young males.
Teenage and young adult girls might catch a slight break.
Senior drivers, on the other hand, might have plenty of experience. But they tend to have slower reflexes and weaker senses than younger people.
Additionally, some of these older drivers might be fragile, and so they are more likely to be seriously injured or killed in a serious accident.
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Young Driver Discounts
There are a variety of ways to earn discounts for all drivers in your family, but these might particularly apply to teens and young adults.
Insurers are different, and some comparison shopping should help you find the company that offers the best discounts and prices for your teen and your entire family.
- Good students – Insurers believe that good students also tend to be responsible for fewer accident claims, and they might offer a discount for students with a B average or better.
- Multiple policies – Typically, it is a better idea to bundle your student’s coverage in with the rest of the family. Insurers do offer discounts for multiple policies, and they might tend to look more favorably on a young driver when they also have other business from parents.
- Safer cars – Some cars really are considered safer, and they are cheaper to insure. If you have the opportunity to buy a new or used car, you might keep this in mind.
- Good driving records – Of course, your son or daughter knows to obey driving laws and try to avoid accidents. However, many parents have to reinforce that message a few times.
- Driver’s education – Many states require driver’s education for new drivers, but some do not. Most insurers do offer a discount to students who have completed a driver’s education class.
Other Tactics to Save Money when Insuring a Teen Driver
You might also consider purchasing an older car for your student to drive. Just be sure that it is one that is considered a safe car.
Sometimes the safety features that are built into newer vehicles make them cheaper to cover than older cars, and this is true even if the newer car is more valuable.
Of course, you will probably be able to enjoy more peace of mind if you know that your child has a safer vehicle to drive around town.
The real way that you can save money by purchasing your child an older car is if you can pay cash for a cheaper car, you might be able to drop full coverage and only include required liability insurance.
This should be considerably cheaper than having to purchase liability, collision, and comprehensive insurance because you still owe money on your car loan.
Just be aware that by dropping collision and comprehensive coverage, you will have to assume responsibility for any repairs that need to be made to the vehicle.
Of course, you hope that your son or daughter will drive safely and avoid accidents, but statistics might be against you.
It might be better to purchase an older car for your son or daughter to drive regularly because you will not worry as much about a ding or scratch as you would if something minor happened to your new car.
Rates for kids who only borrow the car once in awhile should be much lower than for kids who drive their own car to work or school every day.
Let Your Son or Daughter Be Responsible for Some of the Premium
Some parents ask their teens to pay some or all of the premium too. This might be tough if your child is enrolled in a demanding school program and has no time to work. But many kids can mow lawns or babysit on the weekends to make some contribution.
You might even assign some duties or chores that can be performed at home when your teen does have extra time.
If he or she really wants to drive, then your son or daughter should have to put forth some extra effort to earn that privilege. This might help them remember to take their responsibility to be a safe driver more seriously too.
Finally, the key to finding the best teen car insurance prices is to simply shop around. The insurer who offers parents the best rates might not be the one who will have the best deal for a whole family full of drivers.
Comparison shopping for insurance rates can save you hundreds of dollars a year on your premiums.
Find the best insurance policy for and your teen now! Enter your ZIP code into the FREE tool at the bottom of this page!