Finding the Cheapest Car Insurance for Teens

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Cheap Car Insurance
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Finding the Cheapest Car Insurance for Teens
If youve ever had to buy car insurance for a
teen, you know that coverage can be brutally
expensive. It costs more than 1,500 per year on
average to add a teen driver to a family
policy. Car insurance for teens is expensive
because teen drivers represent a huge risk for
car insurance companies. Car crashes are the
leading cause of death for U.S. drivers ages 16
to 19, and drivers in that age group are nearly
three times as likely as those ages 20 or older
to be in a fatal crash, according to the
Insurance Institute for Highway Safetys Highway
Loss Data Institute.
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Its especially important for parents of teen
drivers to compare prices from different
insurance companies and look for discounts. When
researched the cheap car insurance quotes for
middle-aged couples with one teen driver, we
found quotes that ranged from about 1,000 per
year to more than 20,000. Cheapest insurance
rates for families with a teen driver The
following table shows the five companies that
offer the cheapest rates for teens when added to
a family policy. One combined policy saves
money Teen drivers can also buy their own
insurance policies, rather than being covered
under their families plans.
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Tips for saving money on teen car insurance
Adding a teenager to your familys car insurance
is guaranteed to increase your premium, but
discounts can lessen the blow. Its
important for teens to have car insurance
coverage not only to comply with the law, but
to bring some peace of mind. Parents should
strongly consider buying more than the bare
minimum, considering the high odds that teen
drivers will be involved in a crash and the
possibility that family assets will be at risk.
car insurance comparison tool can help you get
started with your shopping.
Companies offer price breaks of up to 25 on
young drivers policies, but amounts and
availability vary by state and company. Most
discounts are good for up to 10 or up to 15
off premiums.
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