Average Insurance Cost For 17 Year Old – The average monthly cost of car insurance for a 17-year-old is $489, which adds up to $5,864 per year. Car insurance for a 17-year-old is cheaper than for a 16-year-old just hitting the road, but it’s still more expensive than what most drivers pay to insure.
On average, COUNTRY Financial offers the cheapest auto insurance rates for 17-year-old drivers, while State Farm offers the cheapest nationwide insurance providers for 17-year-old drivers. Both companies offer car insurance for 17-year-olds that are thousands of dollars a year cheaper than the average price.
Average Insurance Cost For 17 Year Old
The average cost of car insurance for a 17-year-old is $489 per month. Due to their lack of driving experience compared to older adults, we found that 17-year-olds paid $4 per year, which is $212 per year more than mature drivers (30, 35 and 45 years old).
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It can still 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. Since COUNTRY doesn’t have a presence everywhere, State Farm offers the cheapest rates for 17-year-olds among the major car insurance companies.
The cost difference between the companies that offer the cheapest and most expensive car insurance rates for 17-year-olds is $921 per month. This means that if you don’t compare insurance costs before you buy, you could be paying thousands of dollars more per year than you actually need for insurance.
While car insurance is typically very expensive for 17-year-olds, it is actually the most expensive for 16-year-old drivers because they are absolutely new to the road. We found that insurance costs for drivers who are 17 years old are 13% lower than for drivers who are only one year younger.
As drivers age and gain experience behind the wheel, their car insurance costs decrease. Therefore, car insurance for 18-year-olds costs on average 16% less than for 17-year-olds. When driving turns 25, the average cost drops 67 percent of the average cost at age 17.
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In fact, age 25 is generally considered the point where young drivers age out of the highest risk age categories, and rates typically decrease at that point.
Insurance for 17-year-olds (and other young drivers) is more expensive due to lack of driving experience. A 17-year-old has only one year or less of driving experience compared to someone who has had a driver’s license for almost a decade or more.
That is why teenagers are more likely to get into accidents and file expensive claims than older drivers. Fortunately, as you gain driving experience, your rates will decrease. Your insurance costs can drop dramatically every year before you turn 25 (as long as you keep your driving record clean).
It is much cheaper for motorists aged 17 to sign up for home insurance than to buy their own insurance. We found that adding a young driver to an existing car insurance policy costs $187 less per month than buying insurance on their own.
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On average, car insurance for a 17-year-old costs $302 per month, or $3,625 per year, when added to a parent or guardian’s policy.
Car insurance is more expensive for a 17-year-old male driver than for a female driver. 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 odds of a car accident, and car insurance for teenage boys is more expensive than for girls because of the higher number of claims involving male drivers. But some states do not allow gender differences in insurance premiums, including:
While car insurance costs $64 more per month for a 17-year-old male driver than for a female, the difference varies by company. The cheapest company for men to drive compared to women is COUNTRY, where the difference between what men and women pay per month is only $19.
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On average, coverage costs $489 per month for a 17-year-old, but rates depend on where you live and other factors. The average cost of car insurance in the least expensive states is $9,925 less per year than in the most expensive states.
Hawaii is the cheapest state for 17-year auto insurance. In Hawaii, where young drivers pay an average of $117 a month for insurance, it is illegal to set rates based on age. In Louisiana, where rates are already among the highest in the country, car insurance for a 17-year-old costs $944 per month, or more than $11,000 per year.
Ratings How we rate: Ratings are determined by our editors. Our methodology takes into account a variety of factors, including pricing, financial ratings, quality of customer service, and other product-specific features.
Despite being available in only 19 states, COUNTRY’s rates for 17-year-old drivers are definitely the lowest of any company.
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COUNTRY Financial offers the cheapest average rates for 17-year-old drivers. Car insurance in COUNTRY costs $253 less per month than average and $3,036 less per year. However, because COUNTRY only offers coverage in 19 states, not everyone can take advantage of its low rates.
Those who live in states where COUNTRY does business can find other coverage options in addition to low rates for youth as young as 17 years old. Motorists can add these additional forms of coverage to their policies:
COUNTRY also offers discounts for young drivers, such as savings for completing a short road safety test, maintaining a high GPA and completing a defensive driving course.
While COUNTRY offers the cheapest car insurance for 17-year-olds, it is the cheapest company in three states: Alabama, Nevada and Oregon. State Farm is actually the cheapest car insurance for 17-year-olds in 10 states, the cheapest of all insurance companies.
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USAA is also the cheapest car insurance for 17-year-olds in many states. But it’s only available to military members and their families, so it’s not an option for many motorists.
While car insurance costs more than average for 17-year-olds, there are still ways for young drivers to save on their car insurance. If you have been quoted too much when buying insurance – or if you have paid too much for your current policy – you should:
The best way to make sure you get the best deal is to compare quotes from the top insurance companies in your area and buy back when your policy is about to expire. This way, you can be sure to get the lowest price that suits your driving history, age and location.
COUNTRY Financial offers the cheapest car insurance for 17-year-olds, but it only offers coverage in 19 states. State Farm is the cheapest company that offers coverage nationwide.
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Car insurance for 17-year-old girls is cheaper than for boys of the same age. Female drivers pay $64 less per month than male drivers, although this can vary by company.
Driving rates among teen drivers with good driving records should decline each year until age 25, when they leave the highest-risk age group. If youcontinue to drive safely, you qualify for no-claims and accident-free discounts, which can help you save even more money.
Find out the cost of car insurance for a 2017 Toyota Camry LE for a 17-year-old driver who drives 10,000 miles per year with rates provided by Quadrant Information Services for every zip code in all 50 states and Washington, D.C. These rates represent average costs for teenagers aged 16 and 18 and are for full cover with the following cover limits:
To calculate the cost of adding a 17-year-old driver to an existing policy, we calculated the average cost of adding a 16-year-old driver to a family policy and then the percentage difference between 16-year-old and 17-year-old applied. -year-old drivers – Veteran Drivers Just this number.
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Rachael Brennan is a senior editor and licensed auto insurance expert at. Her work has also been published in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com, among others.
Andrew Hurst is a senior editor and licensed auto insurance expert at. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Journal, ValuePenguin and Property Casualty 360, among others.
Maria Filindras is a financial advisor, a California licensed life and health insurance agent, and a member of the Financial Review Committee of. It’s no surprise that young teen drivers pay more for car insurance. Young drivers’ inexperience and limited driving history can be an underwriting risk for car insurance companies, so they charge more to insure new drivers. But how much should a new driver pay? We’ve analyzed the data to determine the cost of UK car insurance for 18-year-old drivers in each of the UK’s major cities, so you can know how much you can expect to pay based on where you live . Rates are similar for 17- and 19-year-olds.
If price is your top priority, you’ll probably choose one of the cheapest options. The team collected more than 400 young driver insurance quotes from 10 cities in England and calculated that the average premium for cheap comprehensive insurance for an 18-year-old driver was £1,752 a year. But the rate
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