If you’ve 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, according to a NerdWallet study.
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 Safety’s Highway Loss Data Institute.
It’s especially important for parents of teen drivers to compare prices from different insurance companies and look for discounts. When NerdWallet researched the cheapest 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. Our rankings are based on national averages, and discounts aren’t available in every state, so you may find different results where you live. Check with your agent for details.
0 Response to "Finding the Cheapest Car Insurance for Teens"
Post a Comment