Are you a young driver and you wish to know the best or most profitable car insurance for young drivers? Read this overview to the very end.
Many factors affect the rate of car insurance and one of these factors is age. As the age of drivers increases, the factors affecting the rate of insurance change. The discount for
Car Insurance Cheapest for Young Drivers
Another very good factor that affects the rates of car insurance is your driving records. If you have maintained a very good driving record with a very good credit history, you will most likely pay less for car insurance.
Young adults can also benefit from a release from being tied to the high levels of risks that insurance companies associate with younger, less experienced drivers, especially teenagers.
Other factors that affect the amount of money you will pay are your location, the type of car you will drive, and your gender. Auto insurance is very compulsory in some states. Apart from meeting a legal requirement, you can also protect your assets with car insurance and also your financial future.
Read the overview below to find the best rates for car insurance.
Best Car Insurance for Young Drivers
To combat the high cost of car insurance for young drivers, these are some of the best insurance companies you should be looking at today;
USAA
USAA is one of the top insurance companies in the United States of America. It also has very affordable car insurance rates for young drivers. It has a very good reputation among all its customers for claims handling and good customer service.
Furthermore, for young drivers, USAA has the very best rates. At USAA, a young male driver is expected to pay about $1200 per year for their car insurance policy.
This is about $500 cheaper than that of other companies in this age group
Also, USAA offers car insurance policies that are exclusive to members of the US military, pre-commissioned officers, veterans, and their spouses and children.
Geico
Geico is one of the highest-rated insurance companies in the USA and it still offers one of the lowest prices among insurance companies.
Geico is one of the cheapest car insurance companies for young drivers. Although, age is not the only factor used to determine the rate for car insurance. There are other factors such as gender, location, etc.
State Farm
This is ranked second according to so many ranking criteria and websites as one of the best car insurance in the USA.
This company offers some of the lowest rates for young drivers in the United States of America. According to our studies, young female drivers will pay an annual coverage of $377 cheaper than the normal average for the country. However, males will pay, $323 less.
Travelers
This company is also ranked as one of the top car insurance companies in the United States.
Although their car insurance rates for young drivers are not the lowest, they are still comparatively affordable compared to some others. The rates for young males and females are lower by $302 and $348 respectively than the average of ten picked companies.
American Family
Just as others listed, the American family is one of the best car insurance companies in the nation. Despite this, it still offers very competitive rates to some drivers including young drivers compared to some other companies.
According to the information gathered from our studies, a young adult female driver is expected to pay $141 less than the overall national average. For a male driver, this will be $197.
These companies offer some of the best rates for young drivers in the United States of America. However, which of them offers the best rates overall? We have grouped this into two categories below;
Car Insurance with the Best Rates
Here are the top cheapest insurance companies with the cheapest rates for young.
Best Rates for Military Community
USAA. This insurance company offers the lowest car insurance rates exclusive to military members of the USA, pre-commissioned officers, veterans, and their spouses and children.
According to our studies, it has one of the cheapest rates for young adults. A female truck driver will pay an average of $539 compared to the annual average of the USA and male drivers will pay $580.
Best Rates for Non-Military Members
Geico is one of the best for drivers without a direct or family connection to the military. It offers the lowest rates in our study for nonmilitary members.
On average, the rates for female and male drivers are $412 and $503 lesser than the national average.
How Young Drivers Can Save on Their Car Insurance
Discounts are one of the ways you can reduce the amount of money you pay on car insurance. However, this is not the only way you can save on car insurance. Here are some steps you can take to reduce the amount of money you spend on car insurance;
Choose the Right Car
Different vehicles have their insurance rates. High-performance luxury cars are very expensive to repair; therefore they will cost higher. Also, vehicles with high theft rates will cost you more to repair. Therefore, they will cost more to insure.
Try Not to Get Traffic Tickets
This might seem very obvious already, but it is very important to avoid traffic for the sake of your insurance cost. Violations could count against your records. Teen drivers who received citations during their early driving years will pay for it with poor track records.
Choose Proper Coverages
Lots of young drivers make the mistake of choosing the wrong coverage. It is very important to note that different states require different levels and types of auto insurance coverage. Remember the state and lender requirements are the minimum coverage you should have.
Pick the Right Deductible
Having a very low deductible you should pay in the case of an accident may sound like a very good idea, but you need to balance the cost of your policy with the price you have to pay to get a low deductible. In most cases, it’s better to choose the highest deductible you can afford to pay that your lender and state allow you to choose.
Pay your Bills on Time
Always pay your bills on time. This will make your records better. As you leave school for your household, it is very easy to miss payments. However, if you want to have very good and affordable car insurance, you cannot miss any payments whatsoever, especially those on credit cards and loans.
Car With Cheap Insurance for Young Drivers
These are some of the cheapest cars to insure for young drivers;
- Austin Mini
- Rover Mini
- Volkswagen up!
- SEAT Mii
- SEAT Arona
- Mazda CX-5
- Volkswagen T-Cross
- Škoda Citigo
- KIA Stonic
Frequently Asked Questions
How Much Is Car Insurance for Teens?
Teen drivers with their policy can pay an average ranging from $4,000 – $5000 per year.
What is the Best Insurance for Drivers in Their 20s?
Comparing based on average insurance premiums and the results of various surveys, USAA stays at the top for young adults. If you do not qualify for USAA, you can go for GEICO.
Is car Insurance Cheaper Once you are 25 Years Old?
If you do not have any form of bad records and you do not incur any form of violations, your car insurance rates will reduce by the time you get to 25.
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