Best Cheapest Car to Insure for Teenager: Everything You Need to Know
You should take into account a number of things in addition to the type of vehicle when looking for the cheapest car insurance for a teenager. Age, location, and gender of the adolescent are a few of these variables.
BY CAR AND DRIVER RESEARCH
You should take into account a number of things in addition to the type of vehicle when looking for the cheapest car insurance for a teenager. Age, location, and gender of the adolescent are a few of these variables.
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Cheapest Cars to Insure for Teenagers |
The following are the top 10 cheapest automobiles for teens to insure, along with the average annual cost of car insurance:
1. $2640 for a Mazda MX-5 Miata.
2. Outback Subaru: $2735.
3. $2740 for a Volkswagen Golf GTI.
4. $2766 for a Mini Countryman.
5. VW Routan: $2769.
6. Smart Fortwo costs $2776.
7. Fiat 500L 19: $2786.
8. The Honda Odyssey costs $2788.
9. The Subaru Legacy costs $2792.
10. The Mini Paceman costs $2807
These breakdowns are based on the 2021 models and are from Value Penguin
How Much Does Teenage Insurance Cost on Average?
According to CarInsurance.com , the national average cost to insure a 17-year-old driver is $5925. The cost of living is 237 percent higher for adults over the age of 30 than this amount.
NerdWallet has a list of the typical annual expenses for full and minimal coverage broken down by age, even though the price of auto insurance for young drivers varies by state:
1. Minimum coverage for drivers under the age of 16 is $2733, while full coverage is $6613.
2. Minimum coverage for drivers under the age of 17 is $2206, while full coverage costs $5373.
3. Minimum coverage for drivers under the age of 18 is $1938, while full coverage costs $4837.
4. Minimum coverage for drivers under the age of 19 is $1541, and full coverage costs $3716.
Due to their lack of experience, drivers under the age of 16 have the highest insurance costs.
Which States Are the Cheapest and Most Expensive?
As previously indicated, the cost of teen drivers' auto insurance varies by state. Hawaii has the lowest annual minimum and full coverage rates for 16-year-old drivers since it doesn't factor in age when calculating insurance premiums.
North Carolina has one among the lowest average prices for a full-coverage annual policy, outside of Hawaii. 17-year-olds are need to pay somewhat less than $2660. The least expensive minimum-coverage cost in Iowa is around $930 per year.
Compared to other states, Louisiana has the most expensive full-coverage annual rates for 16-year-old drivers, so compare that cost to those prices. A full-coverage annual policy should cost more than $11,500.
Despite the fact that a 17-year-old driver won't have to pay as much as a 16-year-old, automobile insurance is still expensive. A 17-year-old driver should budget roughly $5370 per year for full coverage and $2206 per year for the bare minimum.
These 17-year-old drivers in Louisiana pay the highest premiums, with full coverage costs topping $9255 yearly. The most expensive state in terms of minimal coverage is Michigan, where it costs little about $4000 a year.
An 18-year-old driver typically spends about $4,830 per year for full coverage, and $4,000 per year for minimal coverage.
Hawaii apart, North Carolina has one of the least expensive average annual full coverage premiums at $2398 while Iowa has the least expensive average yearly premium for minimal coverage at roughly $812.
19-year-old drivers typically have their licenses longer and have more driving experience, making them the least expensive teenagers to insure. For them, a full-coverage policy costs roughly $ 3717 a year on average, while a minimum-coverage rate costs about $ 1451 a year.
North Carolina has the lowest rates for drivers this age, excluding Hawaii. For a minimum-coverage rate, the average yearly policy costs $ 550, compared to $1490 for full coverage. Louisiana is the state where complete coverage costs the most, at $6240 per year. At $2890 a year, Michigan leads the list for minimum coverage.
Does Gender Play a Role in Car Insurance Costs for Teenagers?
Teenage men typically pay high vehicle insurance rates, especially if they have excellent driving histories, despite the fact that automobile insurance for young women is more expensive than for women in their 20s. They lack experience, and since they lack driving records, auto insurers are unable to determine their rates, which is one of the causes.
Companies use statistics to assess overall risks and establish pricing when they are unable to utilize a driving history to estimate the possibility of filing a claim.
Male teenagers often cause more collisions than other groups, according to the Insurance Institute for Highway Safety (IIHS). According to the IIHS, minors between the ages of 16 and 19 are accountable for nearly three times as many fatal accidents as people 20 and older.
Ways to Lower Insurance for Teenagers
Teens typically pay higher auto insurance premiums so that businesses can afford the additional losses they are more likely to suffer. Nearly 2500 kids lost their lives in car accidents in 2018,Centers for Disease Control and Prevention, making auto accidents the second-leading cause of mortality for minors.
However, teenagers can take several steps to reduce their auto insurance rates:
1. Enroll in a course on defensive driving. Your teen may receive a discount from the insurance provider as a result of taking the course. It might be necessary for you to use particular providers, so check with the business beforehand. Online learning is available for many courses.
2. Maintain a high GPA. The majority of insurance providers offer discounts to drivers under 25 who have a B average in high school or a GPA of at least 3.0 in college.
3. Operate a car responsibly. Teenagers with sports cars will have to pay more for insurance than those with late-model sedans. The teenager might also choose to drive a beater and merely have liability insurance. Older, more worn-out cars don't need comprehensive or collision insurance because you'll probably pay more in premiums each year than the car is worth.
4. Incease the amount of time between moving violations and incidents. It makes reasonable that your insurance will get cheaper the longer you go without making a claim or getting into an accident. Have your teen keep driving cautiously and refrain from filing frivolous claims.
5. Research discounts. For instance, teenagers who attend college on-campus far from home may be eligible for a discount.
Remember that there are additional ways to reduce the cost of your teen's auto insurance when looking for the least expensive vehicle to insure. Your teen's insurance rates can reduce significantly if you do some research, get in touch with your insurance provider directly, and have them practice safe driving behaviors.
Sources:
https://www.valuepenguin.com/cheapest-cars-insure-teens
https://www.nerdwallet.com/blog/insurance/getting-cheapest-car-insurance-teenagers/
https://www.iihs.org/topics/fatality-statistics/detail/teenagers
https://www.cdc.gov/injury/features/teen-drivers/index.html
https://newmiddleclassdad.com/least-expensive-cars-to-insure-for-teenage-drivers/
https://www.carinsurance.com/Articles/car-insurance-17-year-old.aspx
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