Quick Answer: What Is The Cheapest Insurance For Teenage Drivers?

What is the cheapest insurance for a 16 year old?

Cheapest Companies for a 16-Year-Old’s Individual PolicyState Farm.

$3,612.Nationwide.

$4,705.Allstate.

$5,342.GEICO.

$5,466.Progressive..

What is the average cost of insuring a teenage driver?

$2,267The average annual rate quoted for a teen driver is $2,267. (This average includes all liability coverage levels.) Compare that to an average cost increase of $621 for adding a teen to the parents’ policy — that means you’ll pay 365 percent more by putting the teen on his or her own policy.

How much is insurance on a Camaro for a 16 year old?

The cost to insure a 2018 Camaro, $3,141 per year, was 7% less than the 2018 Dodge Charger’s rate and 10% less than the 2018 Ford Mustang’s. Additionally, we have found the 2013 Chevrolet Camaro ZL1 to be the second cheapest sports car to insure for young drivers.

How much does insurance go up after adding a teenager?

It costs an average of 140% to 160% extra to add a teenager to a car insurance policy. That means if you’re currently paying $800 a year for car insurance, you can expect to pay between $1,120 and $1,280 more per year after adding a teenager to your insurance policy.

What is the cheapest way to insure a teenage driver?

Adding a teen driver to your policy will almost always be significantly cheaper than the teen having coverage through his or her own policy. Typically, your policy will automatically cover your teen at no cost while driving with a learner’s permit, but check with your insurance company to be certain.

Which insurance company has the best rates for teenage drivers?

Best Car Insurance for TeensProviderBest ForErie InsuranceBest Overall for New DriversAllstateBest for College StudentsState FarmBest Student DiscountsProgressive InsuranceBest for Good Drivers2 more rows

How can I lower my teenage car insurance?

The Six Best Ways to Lower Your Teen’s Auto Insurance Premiums(1)Raise the Deductible. Raising your policy’s deductible can often dramatically lower your teen’s insurance rate. … (2)Ban the Hot Wheels. … (3)Get With the Telematics Program. … (4)Optimize Coverage. … (5)Aggressively Pursue Discounts. … (6)Shop Around.

Do I have to add my 16 year old to my insurance?

In fact, insuring your teen is typically required by law (once they are licensed). Most states require drivers to have auto liability insurance before they can legally drive, according to the Insurance Information Institute (III). The student driver is covered by his/her parents’ policy as a household member.

How much is insurance for a 16 year old per month?

Car insurance for a 16-year-old costs $295 to $1,170 per month, on average, depending on whether the policy is for the 16-year-old alone or the teen is added to a parent’s policy. Most 16-year-old drivers are covered on their parents’ policy because it’s cheaper.