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Cheapest insurance cars for young drivers, When evaluating the price of insurance for a teen’s car, you need consider a number of factors in addition to the type of car. Some of these factors include the adolescent’s age, residence, and gender.
Cheapest insurance cars for young drivers
The following are the top 10 cars for which young drivers pay the least in annual insurance premiums:
Mazda MX-5 Miata: $2640.
Subaru Outback: $2735.
Volkswagen Golf GTI: $2740.
Mini Countryman: $2766.
Volkswagen Routan: $2769.
Smart Fortwo: $2776.
Fiat 500L 19: $2786.
Honda Odyssey: $2788.
Subaru Legacy: $2792.
Mini Paceman: $2807.
Value Penguin offers these breakdowns, which are based on the 2021 models.
How Much Do Insurance Premiums For Teens Cost?
The average national insurance rate for a 17-year-old driver is $5925, according to CarInsurance.com. This sum is 237 percent more than what adults over 30 pay.
Even though young drivers’ auto insurance rates vary by state, NerdWallet has prepared a breakdown of the typical annual costs for full and minimal coverage split down by age:
A minimum of $2733 in coverage and a full $6613 in coverage are required for drivers under the age of 16.
A minimum of $2206 in coverage and a total of $5373 in coverage are required for drivers under the age of 17.
Drivers under the age of 18: Minimum coverage is $1938 and full coverage costs $4837.
Under-19-year-old drivers must carry a minimum of $1541 in insurance and a full $3716 in coverage.
Younger drivers have less experience behind the wheel, thus their insurance premiums are higher.
More about Average Cost of Car Insurance for 16-Year-Olds.
Which States Have the Highest and Lowest Costs?
As was already said, the cost of insurance for teen drivers varies by state. Hawaii has the lowest annual minimum and full coverage rates for 16-year-old drivers since it doesn’t take a driver’s age into account when determining how much their vehicle insurance will cost.
With Hawaii being the exception, the average cost of a full-coverage annual policy in North Carolina is among the lowest. 17 year olds are obliged to pay somewhat less than $2660. In Iowa, the lowest minimum-coverage rate averages $930 a year.
Compare their costs to those of Louisiana, which has the highest annual premiums for 16-year-old drivers with full coverage. Your annual premium for a full-coverage policy would probably exceed $11,500.
Automobile insurance is still pricey, even though a 17-year-old driver won’t spend as much as a 16-year-old. Budget $5370 annually for complete coverage and $2206 annually for the bare minimum for a 17-year-old driver.
These 17-year-old drivers pay the highest premiums in Louisiana, where full-coverage prices exceed $9255 annually. Michigan has the costliest minimal coverage, at around $4070 per year.
For a driver under the age of 18, the average yearly minimum-coverage premium is $1940, and the price of full coverage is just over $4830.
Except for Hawaii, North Carolina has one of the lowest average annual full-coverage expenses ($2398), and Iowa has the lowest average annual basic coverage costs ($812), both of which are state-wide averages.
Young drivers under the age of 19 have the cheapest insurance rates because they frequently have longer licenses and more driving experience. For them, a full-coverage policy costs on average $3717 per year, while a policy with minimal coverage costs on average $1451.
North Carolina is the least expensive state for drivers this old, followed by Hawaii. A policy with minimum coverage costs $550 per year on average, whereas a comprehensive policy costs $1490 on average. The state with the highest cost for comprehensive coverage is Louisiana, at $6240 per year. Michigan tops the list with a $2890 annual minimum coverage requirement.
Does the price of teen car insurance depend on gender?
Even when they have good driving records, teenage boys frequently pay high auto insurance premiums, while young girls’ premiums are higher than those of women in their 20s. They lack experience, which makes it difficult for vehicle insurance companies to set their costs because they lack driving histories.
An insurance company must instead use statistics to evaluate the overall risk and set pricing when it cannot use a customer’s driving history to estimate the likelihood that a claim would be submitted.
According to the Insurance Institute for Highway Safety, male teenagers frequently cause more collisions than other demographics (IIHS). The IIHS estimates that youths 16 to 19 are responsible for almost three times as many fatal accidents as people 20 and older.
Teenage Techniques for Lowering Insurance
Teenagers often pay higher vehicle insurance premiums so that companies can cover the extra losses that they are more likely to sustain. According to the Centers for Disease Control and Prevention, about 2500 teenagers died in automobile accidents in 2018, making them the second-leading cause of death for children.
However, there are a few strategies that teenagers can use to reduce the cost of their auto insurance:
enroll in a driving safety course. The insurance company may give your teen a discount if they finish the program. Check with the company to see if using a specific supplier is required beforehand. There are several possibilities for online education. receive honors. Most insurance companies provide drivers under the age of 25 discounts if they have a B average in high school or a GPA of at least 3.0 in college.
When you are driving, use caution. Sports car drivers in their teens will have to pay more for insurance than late-model sedan drivers. The teenager may even decide to drive a beater with only liability insurance. Older, poorly maintained cars don’t need comprehensive or accident insurance because the annual rates would likely exceed the value of the automobile. There should be more time between events and driving infractions. The longer you go without filing a claim or getting into an accident, the less expensive your insurance should be. You should encourage your kid to practice safe driving practices while they are behind the wheel.
Examine promotions. Teens who are attending college on-campus and away from home are one example of someone who may be qualified for a discount.
Keep in mind that there are extra strategies to lower the price of your teen’s auto insurance as you look for the least expensive vehicle to insure. By doing some research, speaking with your insurance provider directly, and having your adolescent practice safe driving habits, you can dramatically reduce the cost of their insurance.
