We found that Erie has the cheapest cable car indemnity for 16-year-old drivers at $ 311 per month for wax coverage, based on our analysis of thousands of rates across nine states. Although car policy for 16-year-olds is expensive, you can save by sharing an policy policy with your parents, getting quotes from multiple insurers and maximizing how many discounts you get .
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Cost of car insurance for a 16-year-old
We found that 16-year-olds can expect to pay on average $ 813 per month for car policy. Among the different insurers we analyzed, rates ranged from $ 311 to $ 1,141 per month for full coverage, which highlights the importance of getting quotes from multiple insurers .
Find Cheap 16-Year-Old Auto Insurance Quotes
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Find the Cheapest Insurers for Young Drivers in Each State
Erie offers the cheap policy for 16-year-olds at a monthly rate of $ 311. As Erie is merely available in 13 states, Farmers is the cheapest choice offered nationally at $ 415 per month .
Cost of car insurance for 16-year-olds compared to other ages
Insuring a 16-year-old driver can be identical expensive. The cost to insure a 16-year-old driver is more than double the modal cost to insure a 25-year-old. A 16-year-old can expect their policy cost to decrease by an average of 9 % when they turn 17 .
How do rates differ between 16-year-old male and female drivers?
The average cost of car insurance for 16-year-old female drivers is generally cheaper than the monetary value for male drivers. This is because young male drivers tend to display more hazardous driving behavior compared to young female drivers, such as accelerate or driving drink in .
|
Age |
Monthly cost – male driver |
Monthly cost – female driver |
|---|---|---|
| 16 | $845 | $782 |
| 17 | $768 | $705 |
| 18 | $647 | $586 |
Why is car insurance so expensive for 16-year-olds?
car policy is a lot more expensive for 16-year-old drivers because they are more probable to get in accidents than older drivers. According to the Centers for Disease Control and Prevention ( CDC ), adolescent drivers are three times more likely than early drivers to get in a fateful crash .
Rates for 16-year-olds are besides higher because insurance companies do n’t have existing data to base their models on. car policy rates are partially based on your driving history, as person who has driven accident-free for respective years will pay less for insurance than person who has caused several car accidents .
But for these teens, who have typically had their driver ‘s licenses for a year or less, there ‘s very little data for insurance companies to base their decisiveness on. This leads to higher costs for every adolescent driver, no topic how careful they are .
The cheapest auto insurance company for 16-year-olds by state
Geico and State Farm are frequently the cheapest insurers, as both companies are the cheapest choice in three states. Below are the cheapest insurance companies for a 16-year-old in our nine sample states .
Do I have to add my teenager to my car insurance?
In most cases, you are required to add your 16-year-old son or daughter to your car insurance american samoa soon as they get their license. Some states mandate it by police, and many policy companies require it besides. even if it ‘s not required, it ‘s a smart theme to ensure everyone is covered by your car policy.
typically, you lone need to add a adolescent driver to a class policy once they have their license. If your 16-year-old has n’t yet passed their license test, they normally do n’t need to be listed on your policy .
Rates for 16-year-olds are cheaper under parents’ insurance
The most substantial way to save money on car policy as a 16-year-old is to get added to your parents ‘ indemnity policy alternatively of buying your own policy. We found that a 16-year-old male could reduce his rates by 45 % by joining his parents ‘ car indemnity policy .
Some indemnity companies require you to have one shared policy for everyone in your family. even if you are able to buy your own policy, you ‘ll probable need your parents to approve the agreement — an insurance company wo n’t let you buy a policy on your own as a minor, since minors ca n’t legally bless contracts .
Driving laws for 16-year-olds
many states have laws limiting how and when 16-year-olds can drive, tied after they ‘ve passed their license tests. adolescent drivers often have average licenses, besides called probationary or restrict licenses, which come with restrictions that do n’t apply to adult drivers .
For example, 16-year-old drivers in Florida ca n’t drive between 11 post meridiem and 6 a.m. In California, 16-year-olds ca n’t have passengers under 20 years old unless a driver aged 25 or older is supervising .
How to save on the cost of auto insurance for 16-year-olds
car insurance rates for 16-year-old drivers are identical high, but there are ways to bring your monthly bounty down. The best matter to do is to be added to a family member ‘s policy rather than buying your own .
But there are other ways to get the cheapest possible cable car policy for a 16-year-old .
Shop around at multiple insurance companies
Every indemnity company offers unlike prices, and the discrepancy is particularly high when it comes to teenagers — we found that going with one insurance company over another can amount to thousands of dollars saved over the course of a class .
however, the cheapest insurers for 16-year-old drivers will vary by region. You should collect quotes from respective different indemnity companies to be confident you ‘re paying a fiddling as possible .
Find discounts for 16-year-old drivers
To offset the high cost of policy for 16-year-olds, many policy companies offer a diverseness of discounts targeted specifically for young drivers. here are some coarse deductions to look out for .
- Good grades: If you’re a full-time high school or college student with a certain GPA (often a “B”/3.0 or better), you can see a reduction in rates.
- Driving tracker: Many insurance companies will provide you with a telematics driving tracker, which reduces your rates after you’ve demonstrated that you drive safely. For example, it may show that you don’t suddenly start or stop, or swerve on the road. These plug into your car’s diagnostic port, or use a mobile app, to track your habits.
- Driving class: Sixteen-year-old drivers are likely to have recently taken driver’s education, but many states allow you to take a driver’s education course to automatically reduce your car insurance rates — in New York state, the discount is 10%.
- Student away from home: This discount applies more often to college students than 16-year-old high schoolers, but if you’re more than 100 miles away from home for school (such as boarding school), and you don’t have a car with you, you’ll usually qualify to have your insurance rates reduced.
- Pay-in-full: You can get a discount on your car insurance from most insurers by paying for the entire plan in full, rather than breaking the cost up by month.
Buy a car that’s cheaper to insure
If you or your parents are buying a new or exploited car for you to drive once you turn 16, one major consideration is how much it costs to insure. The price of car policy varies importantly by car model — for exercise, we found in our study of the cheapest cars to insure that a Honda CR-V, the car with the lowest monthly rates, is 33 % cheaper to insure than a Ford Mustang .
Buying a fun or fast car — like a Mustang — may seem appealing, but it ‘s likely to be much more expensive to buy, drive and cover than a car like a Honda Civic. Plus, if you do get in an accident, a sports cable car will be more expensive to repair .
Drop comprehensive and collision coverage
One of the simplest ways for teenagers to lower their policy bills is to reduce the amount of coverage they ‘re paying for. The most normally removed portions of cable car insurance are comprehensive and collision coverage, which pay for the repair of your own fomite. collision covers you if your car is damaged in a crash and no matchless else is at blame. comprehensive coverage pays for wrong caused by something other than a collision, like vandalism or larceny .
Both coverages are optional unless you have a cable car loan or lease. Dropping comprehensive and collision coverage is by and large a better idea when your car is older and not worth arsenic much money. This is because the utmost possible payout of coverage — the substitute cost of your car — is much less than the price of coverage. however, you should alone drop these coverages if you can afford to repair or replace your car without them .
How to get car insurance for a 16-year-old
For 16-year-olds who are just adding themselves to their parents ‘ policy, getting behind the wheel can be arsenic bare as calling your indemnity agent or going to your insurance company ‘s web site .
however, adding a 16-year-old to a car indemnity policy is an ideal time to check with other insurers to see how much they charge for their coverage and to consider switching policy companies in orderliness to save money .
Can a 16 year-old get their own car insurance?
Yes, a 16 year-old can purchase their own car insurance policy. however, along with it being more expensive, there will probably be an extra step in the action .
They ‘ll probably need to have a rear approve or cosign the agreement, as minors ca n’t sign legally binding contracts .
Methodology
Our study used car insurance quotes from thousands of ZIP codes across nine of the most populate states in the U.S. Our sample drivers were 16-year-old boys and girls who drove a 2015 Honda Civic EX. All other parameters affecting car indemnity rates were kept changeless .
The full coverage policies that we used had the trace limits :
|
Coverage type |
Study limits |
|---|---|
| Bodily injury liability | $50,000 per person/$100,000 per accident |
| Property damage liability | $25,000 per accident |
| Uninsured/underinsured motorist bodily injury | $50,000 per person/$100,000 per accident |
| Comprehensive and collision | $500 deductible |
| Personal injury protection (PIP) | Minimum when required by state |
Our study included 29 policy companies, but rates from insurers were alone added to our number of average prices and recommendations if their policies were available in at least three of the nine states .
ValuePenguin ‘s analysis collected insurance rate data from Quadrant Information Services. The rates used were source publicly from insurance company filings. The rates mentioned in this study should be used for comparative purposes merely, as your own quotes may be different .