Car Insurance Quotes For 18 Year Olds
Car Insurance Quotes For 18 Year Olds
Car insurance for 18-year-old drivers is very important, often higher than for more experienced drivers, and this is why you have to receive a quote. The average annual cost of full-coverage car insurance for an 18-year-old is approximately $5,150, translating to about $429 per month. However, this figure can vary widely depending on the type of policy and whether the teen is added to a family policy or purchases their own. Opting for minimum coverage, which only meets the state’s basic requirements, can lower the average annual cost to around $2,446, or $203 per month. Despite the savings, minimum coverage leaves drivers with greater financial risk in case of an accident. Adding an 18-year-old to a parent’s policy generally results in a higher premium for the family, but is often more cost-effective than the teen obtaining an individual policy. The average increase for adding a teen to a family policy is about $4,245 per year, or $354 per month, for full coverage, which is still less expensive than a stand-alone policy for the 18-year-old.
Several car insurance companies offer competitive rates for 18-year-olds. Erie Insurance is often cited as providing some of the cheapest minimum-coverage options, with average rates around $97 per month or $1,161 annually. However, Erie’s availability is limited to only 12 states and the District of Columbia. Among nationwide providers, State Farm and USAA are frequently recommended for their affordable rates and various discount programs. USAA, while offering some of the lowest rates, is exclusively available to military members and their families. Other companies like Geico, Travelers, and Auto-Owners also provide competitive rates and discounts for young drivers
Despite the high costs associated with insuring 18-year-old drivers, several strategies can help reduce premiums and make coverage more affordable. One of the most effective methods is to compare quotes from multiple insurance companies. Since each insurer weighs risk factors differently, obtaining quotes from at least three companies can reveal significant variations in pricing and coverage options
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How Much Is Car Insurance for 18-Year-Olds?
The average cost of full-coverage Car insurance for 18-year-olds is $5,150 annually, or $429 per month. Your family insurance will increase if you add an 18-year-old, but it will reduce if the 18-year-old bought a policy for themselves. Generally speaking, older drivers pay less than 18-year-olds.
Factors That Affect Car Insurance Costs for 18-Year-Olds
Several other factors influence car insurance rates. These often consist of:
- The gender listed on the driver’s license
- The driver’s record behind the wheel
- Where the driver lives
- The driver’s credit score
- The make and model of the driver’s vehicle
- Keep in mind that not all states consider all factors.
How much is car insurance for an 18-year-old?
For 18-year-olds, the average cost of auto insurance is $2,446 per year, or $203 per month, for minimum coverage, and $5,801 per year, or $483 per month, for full coverage. In general, 18-year-olds pay around three times as much for auto insurance as 30-year-olds.
Driver age Minimum-coverage rate Full-coverage rate
18………………….$2,446…………………………………$5,801
30………………….$777……………………………………$1,984
Why Is Car Insurance So Expensive for 18-Year-Olds?
Teenage drivers pay more for car insurance because they have less driving experience and are more likely to be involved in an accident. Compared to drivers in their 30s or 40s, even an 18-year-old with a clean driving record will pay more for car insurance.
As you can see below, the cost of full-coverage car insurance for 18-year-olds is more than twice that of 35-year-olds.
Age Average Monthly Premium
16……….$487
17……….$457
18………$429
19………$389
20………$365
21……….$312
22………$292
25……….$235
45………$198
55………$184
Minimum-Coverage Car Insurance Costs for 18-Year-Olds
The minimum-coverage car insurance for 18-year-olds comes from Erie Insurance, followed by USAA and Auto-Owners. having only the minimum coverage allowed by your state always ensures cheaper car insurance cost, but there is more financial risk if an accident happens.
Car Insurance Company Monthly Cost Estimate Annual Cost Estimate
Erie……………………………………….$97……………………………………$1,161
USAA…………………………………….$106…………………………………..$1,273
Auto-Owners………………………….$131…………………………………..$1,575
Geico……………………………………..$140………………………………….$1,681
Travelers………………………………..$148………………………………….$1,771
Market Average………………………$185…………………………………..$2,219
State Farm……………………………..$193………………………………….$2,315
Progressive…………………………….$217…………………………………..$2,604
Allstate…………………………………..$217…………………………………..$2,609
American Family…………………….$263………………………………….$3,152
How to Get Cheaper car Insurance for young drivers
Young drivers can save money on auto insurance by comparing quotes and modifying their coverage.
One of the many variables that insurance companies consider when calculating your premium is your age. The others consist of:
- Your driving record
- The value and safety record of your vehicle
- Any discounts you may be eligible to receive
You can qualify lower rate with one company than with others because each one evaluates these variables differently. When looking for auto insurance, we advise comparing quotes from at least three providers. For additional information visit here
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