Teenage Car Insurance Average Cost Per Month
Adding a teenager to a parent s policy is cheaper than buying an individual policy.
Teenage car insurance average cost per month - We analyzed over a dozen car insurance quotes for 16 year old drivers and found that insurers charge up to 1 700 per month for a teen to get their own car insurance policy with boys paying about 16 more than girls. Compare this to the national average for all drivers which is around 1 700 per year. Because quotes vary for every individual comparing rates is often the best way to find savings on car insurance.
The average cost of car insurance per month is around 43 25 a month in the uk. The risk is highest with 16 year olds who have a crash rate twice as high as 18 and 19 year olds. Bundling can save you money on teen car insurance.
The average cost of a car insurance policy is 937 per year or 78 per month for a policy that meets the minimum requirements of each state. This average includes all liability coverage levels. The average price for teen car insurance is around 2 150 per year.
The average car insurance rate for a 16 year old who has his or her own policy is as follows per year. Being that this is a national average teen drivers can expect to pay anywhere from 1 200 to 4 850 for car insurance on an annual basis. But the price of your policy will be unique to your situation.
Teen drivers pay the most about 419 per month for drivers 16 19 years ago. Liability limits of 50 100 50. Car insurance rates for teens are easily in the range of 1 000 to 2 000 a year or more.
Average cost of car insurance for 16 year old. Like we ve said teen car insurance is expensive. Those aged 50 to 59 pay the least for car insurance with all other variables constant.
Once you turn 20 you should expect an average monthly drop in your insurance premium by about 253. It costs 302 extra per month to add a teenage boy to a plan. Lowering car insurance premiums for teenage drivers.
Young drivers are far more likely to get into car accidents than older drivers. But purchasing an individual plan with identical coverage for a teenage boy costs 456 or 278 more per month. Teenage drivers are the most risky age group and therefore pay 2x to 3x what an experienced driver would pay for car insurance.
This assumes you pay an 22 9 apr on a. There are ways to reduce auto insurance rates for a teen driver but buying a car for the teen and putting him on his own policy isn t one of them the average annual rate quoted for a teen driver is 2 267.
