Average Car Insurance Cost For 16 Year Old Male – Based on our analysis of thousands of rates in nine states, the average cost for 16 years of coverage for full coverage is $813 per month. On average, 16-year-old boys pay $63 more per month than girls.
Based on our analysis of thousands of miles across nine states, Erie has the cheapest auto insurance for 16-year-old drivers at $311 per month. Although car insurance for 16-year-olds is expensive, you can save by sharing the policy with your parents, getting quotes from multiple insurance companies and maximizing the number of discounts.
Average Car Insurance Cost For 16 Year Old Male
16-year-olds can pay an average of $813 a month for car insurance. Among the different insurance companies we analyzed, comprehensive coverage rates ranged from $311 to $1,141 per month, which highlights the importance of getting quotes from multiple insurance companies.
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Erie offers the cheapest coverage for 16-year-olds at $311 a month. Since Erie is only available in 13 states, Farmers is the cheapest option, offered nationwide at $415 per month.
Insuring a 16-year-old driver can be very expensive. The cost of insuring a 16-year-old driver is more than double the cost of insuring a 25-year-old driver. A 16-year-old can expect that by the time he turns 17, insurance costs will drop by an average of 9%.
The average cost of car insurance for 16-year-old female drivers is generally cheaper than for male drivers. This is because young male drivers tend to engage in riskier driving such as speeding or drink driving compared to young female drivers.
Car insurance is much more expensive for 16-year-old drivers because they are more likely to get into accidents than older drivers. According to the Centers for Disease Control and Prevention (CDC), teenage drivers are three times more likely than other drivers to be involved in a crash.
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Rates for 16-year-olds are also higher because insurance companies don’t have the data available to build their models. Car insurance rates are based in part on your driving history, as someone who has been accident-free for several years will pay less for insurance than someone who has been involved in multiple accidents.
But for these teenagers, who typically have had their licenses for a year or less, insurance companies have very little data to base their decision on. This leads to higher costs for any teenage driver, no matter how careful they are.
Geico and State Farm are often the cheapest insurance companies, as both companies are the cheapest options in three states. Below are the cheapest insurance companies for 16-year-olds in our nine sample states.
In most cases, you will need to add your 16-year-old son or daughter to your auto insurance as soon as they get their license. Some countries require this by law, and many insurance companies also require it. Even if it’s not necessary, it’s a smart idea to make sure they’re all covered by your auto insurance.
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You usually only need to add a driver to your policy if they are licensed. If your 16-year-old hasn’t passed his license test yet, he usually shouldn’t be on your policy.
The most important way to save money on car insurance as a 16-year-old is to add to your parents’ insurance policy instead of buying your own. A 16-year-old can lower his rates by 45% by subscribing to his parents’ car insurance policy.
Some insurance companies require you to have a joint policy for all family members. Even if you are able to buy your own policy, you will probably need to get your parents to approve the contract – the insurer will not allow you to buy the policy on your own as a minor, as minors cannot legally sign contracts.
Many states have laws that limit how and when 16-year-olds can drive, even after they pass their permit tests. Teen drivers often have intermediate licenses, also known as temporary or restricted licenses, which carry restrictions that do not apply to adult drivers.
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For example, 16-year-old drivers in Florida cannot drive between 11 p.m. and 6:00 a.m. In California, 16-year-olds may not ride with passengers younger than 20 unless they are being driven by someone 25 or older.
Car insurance rates for 16-year-old drivers are very high, but there are ways to lower your monthly premium. The best thing to do is to add a family member to the policy instead of buying your own.
Each insurance company offers different rates, and the difference is especially large when it comes to teenagers – switching from one insurer to another can save you thousands of dollars over the course of a year.
However, the cheapest insurance companies for 16-year-old drivers vary by region. You should collect quotes from several different insurance companies to make sure you pay as little as possible.
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To offset the high cost of insurance for 16-year-olds, many insurance companies offer various discounts specifically aimed at young drivers. Here are some common deductions to watch out for.
If you or your parents are buying a new or used car to drive after you turn 16, one of the main considerations is how much insurance will cost. The cost of car insurance varies by car model – for example, in our cheapest car research we found that the lowest monthly price Honda CR-V is 33% cheaper to insure than a Ford Mustang. .
Buying a fun or fast car – like a Mustang – may seem tempting, but it’s likely to be much more expensive to buy, drive and insure than a car like a Honda Civic. In addition, sports car repairs are more expensive if you get into an accident.
One of the easiest ways teenagers can lower their insurance bills is to reduce the coverage they pay for. The most commonly removed parts of car insurance are comprehensive and collision coverage, which pays for repairs to your own vehicle. Collision coverage covers you if your car is damaged in an accident and no one else is at fault. Comprehensive coverage covers damage caused by non-collision events such as vandalism or theft.
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Both covers are optional unless you have a car loan or lease. Reducing comprehensive and collision coverage is generally a better idea if your car is older and not worth as much money. That’s because the maximum possible coverage payout — the replacement cost of your car — is often less than the cost of coverage. However, you should only waive these warranties if you can repair or replace your car without them.
For 16-year-olds just adding themselves to their parents’ policies, getting behind the wheel can be as simple as calling their insurance agent or going to their insurer’s website.
However, adding 16 to your car insurance policy is the perfect time to check with other insurance companies how much they charge for their coverage and consider switching insurance companies to save money.
Yes, a 16-year-old can buy their own car insurance policy. But in addition to being more expensive, the process probably involves an extra step.
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They will likely need a parent to approve or sign the contract, as minors cannot sign legally binding contracts.
Our study used auto insurance quotes from thousands of zip codes in the nine most populous US states. Our model drivers were 16-year-old boys and girls driving a 2015 Honda Civic EX. All other parameters that affect the rate of car insurance remained the same.
Our study included 29 insurance companies, but insurers’ rates were included in our list of average prices and recommendations only if their policies were available in at least three of the nine states.
The analysis collected insurance rate data from quadrant information services. The rates used were obtained from publicly available insurance company records. The rates mentioned in this survey should be used for comparison purposes only, as your own quotes may vary.
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For an insurance quote, call: (855) 596-3655 | Representatives are available 24 hours a day, 7 days a week! “Peer-reviewed” means that the article has been thoroughly evaluated by our Financial Review Board for accuracy and clarity. The review board consists of a panel of financial experts whose aim is to ensure that our content is always objective and balanced.
Written by Carol Pope Written by Carol Pope Arrow Insurance Law Writer Carol Pope is an insurance writer and spent 12 years as an auto insurance agent before joining the team. During that time, he sold, serviced and underwrote auto insurance for people all over the country. He also has experience selling additional insurance such as umbrella insurance. Contact Carol Pope by email at Carol Pope
Edited by Amy Sims Edited by Amy SimsArrow Editor-in-Chief Amy Sims is the company’s managing editor, leading the team responsible for creating content for education insurance. Amy Sims
By Mark Friedlander By Mark FriedlanderArrow Right Director of Corporate Communications at the Insurance Information Institute Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing a better understanding of consumers.
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