How Much Is Car Insurance A Month – The average monthly cost of car insurance for 17-year-olds is $489, which adds up to $5,864 a year. Car insurance is cheaper for a 17-year-old than it is for a brand new car on the road, but it’s still more expensive than most drivers pay.
On average, COUNTRY Financial has the cheapest car insurance rates for 17-year-olds, and State Farm offers the cheapest car insurance rates nationwide for 17-year-old drivers. Both companies offer car insurance for 17-year-olds that saves thousands of dollars a year on average.
How Much Is Car Insurance A Month
The average cost of car insurance for a 17-year-old is $489 monthly. We found that 17-year-olds paid $4,212 more per year than adult drivers (ages 30, 35, and 45) because of their lack of driving experience compared to older adults.
Umbrella Liability Insurance Cost
It is still possible to get cheap car insurance for 17 year olds. We found that COUNTRY Financial has the lowest average car insurance rates for 17-year-old drivers. Because COUNTRY doesn’t work everywhere. State Farm has the cheapest rates for 17-year-olds among the major auto insurance companies.
The cost difference between the cheapest and most expensive car insurance rates and companies for 17-year-olds is $921 per month. This means without comparing the costs involved before you buy. You could potentially pay thousands of dollars more for coverage each year.
Car insurance is usually very expensive for 17-year-olds, but it is actually more expensive for 16-year-old drivers because they are the latest on the road. It found that insurance costs were 13 percent lower for 17-year-old drivers than for drivers a year younger.
As drivers age and gain experience behind the wheel, car insurance costs drop. Therefore, car insurance for 18-year-olds is, on average, 16% cheaper than for 17-year-olds. When a driver is 25 years old, the average cost is 67% lower than the average cost for 17-year-olds.
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In fact, 25 is often considered the point at which young drivers fall out of the highest-risk age bracket, and rates drop around that time.
Insurance costs are more expensive for 17-year-olds (and other young drivers) due to their lack of driving experience. A 17-year-old has only a year or a few years of driving experience, compared to someone who has had a driver’s license for nearly a decade or more.
Therefore, teenagers are more expensive and more prone to accidents than older drivers. Fortunately, As you gain driving experience, your rates will decrease. Every year before you turn 25; The cost of coverage can drop significantly (as long as you maintain a clean driving record).
A 17-year-old driver is cheaper to include in their family’s policy than to cover themselves. We found that it costs a young driver $187 less each month to add to an existing car insurance policy than to cover on their own.
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On average, The cost of car insurance for a 17-year-old child added to their parent or guardian’s policy is $302 per month, or $3,625 per year.
Car insurance for 17-year-old male drivers is more expensive than their female counterparts. On average, 17-year-old boys pay $64 more per month (or $765 per year) than girls of the same age.
Car insurance companies use a lot of data to calculate the risk of a car accident, and car insurance for teenage boys is more expensive than girls because male drivers have more claims than girls. However, some states do not allow gender differences in insurance costs.
Car insurance costs $64 more per month for 17-year-old male drivers than female drivers, but the difference varies by company. The cheapest company for male drivers compared to female drivers is COUNTRY. The wage difference between male and female drivers is only $19 per month.
How Much Is Car Insurance For A Teenager A Month?
On average, Insurance costs $489 a month for 17-year-olds — but prices vary depending on where you live. It depends on other factors. The average cost of car insurance in the cheapest state is $9,925 cheaper per year than the most expensive state.
Hawaii is the cheapest state for 17-year car insurance. On average, young drivers pay $117 a month for coverage in Hawaii, and age-specific pricing is against the law. In Louisiana, which already has the highest rates in the US, car insurance costs $944 a month for 17-year-olds, which is $11,000 more a year.
Rating: We rate: Rating is determined by our editorial team. Our methodology is based on prices, economic evaluations; Many factors are taken into account, including customer service quality and other product characteristics.
We have the lowest rates for 17-year-old drivers of any company in the COUNTRY, but are only available in 19 states.
Car Insurance Under $100 A Month
COUNTRY Financial has the cheapest average rates for drivers 17 years old. Car insurance in the country is $253 less per month or $3,036 annually than the average. However, since COUNTRY only provides coverage in 19 states; Not everyone can take advantage of its cheap rates.
Residents of states where COUNTRY operates can find coverage options other than the cheaper cost for 17-year-olds. Drivers can add these additional forms of coverage to their policy:
COUNTRY completed a short road safety test; Discounts are offered for new drivers, such as maintaining a high GPA and completing a defensive driving course.
COUNTRY has the cheapest car insurance for 17-year-olds, but it’s only in 3 states: Alabama, Cheapest company in Nevada and Oregon. State Farm is actually the cheapest auto insurance for 17-year-olds in 10 states. The most of any provider.
Car Insurance Industry Statistics In 2023
USAA is also the cheapest car insurance for 17-year-olds in many states. But it’s only available to members of the military and their families, so it’s not an option for many drivers.
Car insurance costs for 17-year-olds are higher than average, but there are still ways young drivers can save money on car insurance. If your rates are too high when you’re shopping for coverage or you’re paying too much for an existing policy, you:
The best way to make sure you’re getting the best price is to compare quotes from the top insurance companies in your area and shop around again near the end of your policy. That way, you can check your driving record, You can make sure you get the lowest rate for your age and location.
COUNTRY Financial has the cheapest car insurance for 17-year-olds and covers only 19 states. State Farm is the cheapest company that offers coverage nationwide.
Cheap Car Insurance
Car insurance costs for 17-year-old girls are lower than for boys of the same age. Female drivers make $64 less per month than their male counterparts, although this varies by company.
Teenage drivers with clean driving records will see their rates drop every year until age 25, the highest-risk age group. If you are driving safely. You will qualify for no-claims and no-accident discounts that will save you more money.
Using rates provided by Quadrant Information Services for each zip code, we found the cost of car insurance for 17-year-old drivers driving 10,000 miles per year in the 50 states and Washington, DC, for a 2017 Toyota Camry LE. These prices represent the average cost for children aged 16 and 18 for full cover with the following cover limits.
To find the cost of adding a 17-year-old driver to an existing policy; Calculate the average cost of adding a 16-year-old driver to a family’s policy, then apply the percentage difference between 16- and 17-year-olds. Old drivers like that.
Average Cost Of Car Insurance (2023)
Rachael Brennan is a senior editor and licensed auto insurance specialist. Her work is MoneyGeek, Clearsurance, Adweek, Boston Globe; Also featured on The Ladders and AutoInsurance.com.
Andrew Hurst is a senior editor and licensed auto insurance specialist. His work was published in The New York Times. The Wall Street Journal; Forbes USA Today NPR Mic, Insurance Business Magazine, Also featured on ValuePenguin and Property Casualty 360.
Maria Philindra is a financial advisor, licensed life and health insurance agent in California and a member of the Financial Review Council.
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