Getting your teenage child insured or any young adult car insurance is a must and it has become very popular due to the dangers new young adult drivers pose to car insurance companies. In a survey carried out by the MarketWatch Guides Team, they discovered that the national average cost for including a teen driver in a policy is $5,297 annually or $441 per month. This article will discuss some of the popular cheap car insurance options for teens and young drivers in 2023. The article will also cover the basic needs of young drivers and lots more.
Teen Drivers Insurance
We all know how expensive it is to have a young adult as a driver, and that is why you, as a parent, must ensure you educate these young adults about the risks involved in being a driver. You must educate them on the importance of practicing safe driving.Â
Young adult drivers must ensure they understand the significance of driving and they must not involve themselves in reckless driving because this can result in expensive repair bills.
You must also ensure you tell them that if they indulge in reckless driving, it could result in their death or the death of other road users and bystanders.Â
When trying to get your young adult insured, you have several alternatives. You can get them their policy, but keep in mind that this can be quite expensive. To reduce the expense, consider including them in your policy and then check for discounts or cashback.
Best Insurance for Teen Drivers
Now these are some of the top cheap car insurance options for teens and young adults you can get for your ward or child:
#1. State Farm
This company is one of the popular organizations that will offer cheap car insurance for teens and young drivers in 2023. Their car insurance policies for teenagers cost about $2,000 per year.Â
State Farm also provides several savings alternatives that are mainly designed for teens and young drivers, such as a 25% off good student cashback that rewards students who maintain good grades. Insurance cashbacks are available to guardians of college students without cars.
This company has a telematics program created specifically for young drivers below the age of 25. It also comes with monitoring driving patterns. The Steer Clear training provides driver education lessons and certifications that can give teen drivers a reduced rate.
#2. Geico
This company will also offer cheap car insurance for teens and young drivers in 2023. They provide some of the lowest average rates on car insurance for teens and young adults. Aside from being cheap, the company provides a good student discount that can enable young drivers to pay even less.
Teen drivers can also take advantage of Geico’s defensive driving discount, which lowers costs after completing an approved safe driver program.
Although this cashback is available to drivers of all ages, it’s particularly valuable for young drivers and teens who could benefit from added instruction. If you are working with a budget, then you should go with this company.Â
#3. USAA
USAA will provide one of the top cheap car insurance options for teens and young drivers in 2023 at an average rate. The company also provides discounts for teens and young drivers, such as discounts for good students and defensive driving cashback.
This company is best for members of the military and you must either be in the military or have a family member who is in the military to get car insurance from USAA.
For individuals who qualify for this offer, you may be able to find cheap car insurance for teens and young drivers from this company.
#4. Erie
This insurance provider serves customers in 12 different states across the United States and offers more than just auto insurance. This company offers cheap car insurance for teens and young drivers in 2023, so you should check them out today.
The company provides accident forgiveness to assist new drivers after their first collision. This means young and new drivers will not encounter any temporary or permanent financial punishments or surcharges on their premiums.Â
However, to enjoy this feature, you must have been insured with this company for at least three years in most states. They also provide cashback for single individuals under the age of 21 who still live with their parents.Â
In the event that a young driver goes an entire year without filing a claim, their deductible will gradually decrease.
#5. Nationwide
This company is pretty popular among new drivers because of its selection of discounts. This company’s annual premium is below the national average cost of other companies.Â
They have good student discounts that are available for any full-time student, be it a high schooler or college student. All you have to do is ensure you have good grades and maintain at least a B average to enjoy this discount.Â
Nationwide now offers two usage-based insurance packages to guarantee cashback for college students and young adults who rarely drive.
#6. Travelers
Travelers is another company that provides cheap car insurance for teens and young drivers in 2023. They provide discounts for maintaining good grades and taking driver training programs. They also provide being away at school discounts and their insurance is relatively cheap.
Hopefully, teen drivers would not have to encounter a car accident or crash, this company provides programs that help to keep insurance affordable in the event of one happening. Traveler accident forgiveness and new car replacement projects can be valuable insurance add-ons for high-risk young drivers.
#7. Progressive
Progressive is another provider of cheap car insurance for teens and adults in 2023 and it has been designed for high-risk drivers for decades. It is also perfect for tech-savvy drivers.
Although Progressive already provides cheap rates for younger drivers, it’s a really good choice for teen drivers with moving infringements or at-fault accidents on their driving history.
This company provides specific cashback for teen drivers who have coverage for at least a year. Combining the discount opportunity with the company’s good student savings can really help in finding cheap car insurance for teens and young adults.
#8. All state
This organization offers savings for teens, especially students away at school, and cashback for teens who move 100 miles away. These discounts can make car insurance cheap to maintain when you’re living far away from home.
Furthermore, there are extra car insurance discounts available for young drivers who complete the teenSMART driver education training.
While other insurers offer annual auto insurance coverage, this firm exclusively offers six-month policies. This implies that your fees are recalculated twice annually.
This can be an advantage or disadvantage, as your premiums may go higher or reduce depending on your driving pattern.
How Much Is Car Insurance for Teens
The cost to insure a teen or young driver is usually expensive as compared to insuring older, more skilled drivers because newer drivers pose a greater risk. The actual cost of car insurance for teens depends on different circumstances, including whether they are eligible for discounts.
The average estimate to include a 16-year-old, newly licensed driver to an adult’s existing car insurance program is about $250 per month, as provided by research carried out by Investopedia research of six main insurance companies.
While the cost of car insurance for teen drivers differs widely by state, below is an estimate of the average prices per year, and it is provided according to the age brackets.
16-year-olds: $6,613 for total coverage; $2,733 for minimum coverage.
17-year-olds: $5,373 for total insurance; $2,206 for minimum coverage.
18-year-olds: $4,837 for full insurance; $1,938 for minimum insurance.
19-year-olds: $3,716 for total coverage; $1,451 for minimum coverage.
Full coverage insurance programs in this analysis cover comprehensive and collision coverage, as well as uninsured/underinsured car safety and increased liability limits. Minimum coverage plans include state-mandated coverage only.
How to Insure Teen Driver
Are you wondering how you can proceed to get your ward, teen, or young driver insured? If yes, one of the ways you can do this is by including your teen in your policy if you are in the process of changing your insurance company.
Now if you’re including your teen in a new policy or a current policy, you must follow these steps.
#1. Reach out to your insurance company
The chances of your insurance company reaching out to you if you have a teenager old enough to drive is pretty high and in the event they do not contact you, ensure you give them a call to get started.
#2. Have all of your important information on standby
You are required to provide your teen driver’s license number and information about the vehicle they’ll be driving, especially if you are including another vehicle in the plan.
#3. Cross-check every detail
You must be up to date about the maximum and minimum coverages for your teen and young driver prior to agreeing to any policy changes. Inquire from your insurance agent if you are eligible for any available cash back because these can add up to significant savings. If your teenager has a vehicle, you can perhaps utilize a multi-car discount.
#4. Take your time in finalizing your decision
While you are still contemplating adding your teen to your policy, you might decide that buying a different policy for your young driver makes more sense, or it might be cheaper to switch insurance companies. Whatever you decide to do, you must ensure that your young driver isn’t driving a vehicle before they have insurance coverage.
What is the cheapest insurance for a 16-year-old?
Erie Insurance is one of the cheapest insurance for a 16-year-old and it costs an Average of $284 per month or $3,410 annually for full coverage
How much is insurance for an 18-year-old in Texas?
The cost of getting car insurance in Texas for an 18-year-old is $2,932 annually, on average. Drivers who are 18 years old pay more for car insurance coverage as compared to the normal driver in Texas because they are young and therefore more risky to protect or insure.
What is the cheapest car insurance for a 17-year-old?
The cheapest car insurance for 17-year-olds is Erie Insurance for $261 per month or $3,137 annually for a full-coverage car insurance program.
What is the youngest age to get car insurance?
Teens at the age of 16 can qualify to get car insurance and in most states, you must be at least 18 years old to get car insurance without assistance from a guardian.
To Conclude
The best cheap car insurance for teens and young drivers is provided by some of the insurance companies discussed in this article.
Some of these companies like Gecio do not only provide cheap car insurance policies to teen drivers, but they also provide several discounts for good students, safe drivers, and those who don’t drive frequently.
You should check them out today and get your teen and young drivers insured.
Cheap Car Insurance for Teens and Young Drivers 2023 FAQs
How much is insurance for a 17-year-old male in Texas?Â
On average, car insurance in Texas for a 17-year-old costs $3,231 annually.
How much is car insurance for a 16-year-old in the USA?Â
The cost of car insurance for a 16-year-old on their own policy is $7,625 per year for full coverage.
How much is insurance for a new driver in California?
The average estimate for car insurance for an 18-year-old driver is $230 each month.
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