Affordable Car Insurance for Teenagers

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In a nutshell...
  • The Insurance Institute of Highway Safety outlines every state’s requirements
  • The choice of a vehicle for your teenage driver can have a significant impact on the cost of your monthly premium
  • Most insurance companies also offer discounts to teens who voluntarily take driver safety classes

Finding affordable car insurance for teenagers is possible, but parents need to understand the factors which make auto insurance so expensive for young drivers to begin with.

There is no doubt the cost of your monthly car insurance rates will increase once you add a teenager to the policy, but there are ways to minimize that impact.

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Why is car insurance for young drivers so high?

https://www.youtube.com/watch?v=BxlOT-gkMkg

Basically, teen drivers are new ones with a higher statistical chance of being in car accidents than any other drivers on the road.

According to the Rocky Mountain Insurance Information Institute, a 16-year-old at the wheel is the most likely driver to be involved in a crash.

The Centers for Disease Control and Prevention cites statistics that indicate teen drivers are less able to anticipate dangerous situations than more experienced drivers are.

The CDC also reports that teen drivers are the least likely to wear their seatbelts which causes the crashes they are involved in to be more serious.

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Graduated Drivers License

In recent years, many states have implemented the Graduated Driver’s License as a method to help prepare teenage drivers for safe travel on the roads.

The idea is to give a new driver a minimum age at which he or she can learn to drive, and require a minimum number of hours of actual driving experience before a full license can be issued.

Then, you can opt to make sure your child has more experience if needed. The Insurance Institute of Highway Safety outlines every state’s requirements, and they are very different.

For example, in Arkansas, you can get a learner’s license at only 14 years of age. Then, you can get your full license at 16 with only six months of possession of a learner’s permit, and no actual driving experience required.

How can I lower the cost of car insurance for young drivers?

While you may not be willing to move your family, there are other steps you can take to reduce the cost of your car insurance rates.

Most insurance companies also offer discounts to teens who voluntarily take driver safety classes. There are also discounts for having anti-theft devices and safety features installed in your vehicle.

Finally, the choice of a vehicle for your teenage driver can have a significant impact on the cost of your monthly premium.

According to State Farm, the Hyundai Sante Fe has a lower than average premium cost for collision coverage, while the Hyundai Accent has a significantly higher price tag for this specific insurance option.

This is a great place to start trying to save money by understanding how much different vehicles cost to insure.

Other Ways to Find Affordable Car Insurance for Young Drivers

Probably the most critical step you can take is to shop around for your coverage.

Use one of the many free online car insurance quote tools as every company uses slightly different criteria to come up with their rates, you don’t know which is best until they give you a quote.

If mom and dad have good records of payments and driving history, they will want to keep your business. You also may be eligible for multi-line discounts if you have another type of coverage with that insurer.

The bottom line is that training your child to be a safe driver and shopping around for auto insurance are the two simplest way to find affordable auto insurance for teenage drivers.

Enter your zip code below to get FREE car insurance quotes today!

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