Becoming a licensed driver seems overwhelmed. Buying and insuring a car is a huge responsibility. If you are over 18, a licensed driver and have the financial means to buy a vehicle (and insurance cover), you can do so for free and without restrictions. But if you are a younger teenager, just having a driver’s license and cash is not enough. In most states, minors are not allowed to own property on their own, and they must hire a parent (or other trusted adult) to sign their purchase jointly. If in doubt, check your state’s DMV.
The best car insurance for teenagers and young adults since 2019
Adding a young driver to family car insurance is cheaper than taking out your insurance: you are likely to pay 20% more than your family’s premiums if you complete your plan separately. The good news is that the premium difference is less from year to year if you, as an older and experienced driver, have to get started on your own and pay your insurance.
Analyzing the best car insurance for young adults in-depth:
Car insurance prices can vary widely, especially for drivers under the age of 32. Find a cheaper rate — Compare the best car insurance for young adults here.
If you drive a car, you need car insurance. All states require that you take out at least a minimum amount of liability insurance to ensure that at least part of the damage is remedied if you damage someone else’s property while driving. Unfortunately, young drivers pay more for car insurance because they have limited driving experience.
Although the prices of car insurance for teenagers are higher, young adult drivers often pay more for insurance until they are 26 or 27 or even up to 32 years old. This is the only way to determine which insurance companies are best suited for you. Young adults compare the offers of a handful of car insurers: Each car insurer estimates its policies differently.
The cheapest car insurance for young drivers
We found that Erie Insurance generally offers the cheapest car insurance for young drivers. On average, Erie car insurance cost $ 2,422, 3.1 times less than the national average of $ 7,100. The second cheapest insurer was The Cincinnati, which offered teen drivers an average annual rate of $ 2,971.
Nationwide offers five coverage options to offer you the best teen car insurance:
- Collision protection helps pay for damage to your teen’s vehicle if the driver hits (or is hit by) another vehicle or the vehicle tips over.
- Liability insurance can help cover damage if your child is to blame for an accident. The law requires minimum liability insurance to ensure the safety of teenagers and other drivers.
- Comprehensive coverage can be helpful if your teenager is involved in an accident that involves no other vehicle, e.g., B. Theft, vandalism and certain weather-related damage.
- Uninsured or underinsured car insurance pays for insured repairs in your teen’s vehicle if an underinsured, uninsured, or unidentified driver damages it in an accident.
- The car rental reimbursement covers the cost of renting a car or other transportation such as bus or subway if your young driver’s car cannot be driven due to an accident.