Are You Paying Too Much for Car Insurance?
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“How much is car insurance for a 16-year-old?” is the question that many parents ask.
This is when they start counting their money trying to figure out if they can afford it.
If you believe that you cannot pay for your teen child’s insurance, you should keep reading this article to find out how can you decrease costs.
Why Is Premium Rate So High for Young Drivers?
Generally, there are two main reasons for more expensive auto insurance for teens, including the following:
- Lack of driving experience;
- Careless behavior.
Usually, insurance companies have higher rates for younger drivers because they do not have much experience.
Likely, you will pay more for your child than for yourself.
Purchasing auto insurance and allowing your son/daughter to drive a car will allow them to obtain some very useful experience, which will help decrease the costs later.
Being a risky driver is also typical for teenagers, so their premium rates are high.
High school students who study full-time will have to pay less than older teens because they are not supposed to drive often.
Car insurance for a 16-year-old girl will cost you less, and you can also save some money by adding the name of the child to your policy.
How Much Should You Expect to Pay?
The average premium is $160 per a year for a 16-year-old teen meeting the following criteria:
- Being a woman;
- Having no accidents/violations;
- Driving parents’ car;
- Using her parents’ policy.
For young men, the price is usually about $200 per year.
Once your child gets bad record or his/her own policy, the price will increase.
So, it is beneficial to keep your child listed in your policy as long as possible.
You should check the rules applied in your state because some of them allow a child to use his or her parents’ insurance until 21 or even 26 years old.
How to Choose the Right Car for Your Child?
Choosing the right car is one of the aspects that can help you decrease the costs of your child’s insurance.
So, if you purchase for your son or daughter a new red sports car, you will have to pay for insurance much more, than if you buy a used family sedan.
Another thing to consider is the safety record of the vehicle.
For instance, car with the capability to drive off-road are considered more dangerous, so you should buy the safest car to decrease costs.
If you want to assign your teen to one of your family cars, you should choose the one with the lower value.
Buying car insurance for your teen is, probably, a good idea so that he/she could master driving skills.
Although you will still have to pay some money, some things can be done to decrease your costs, including those mentioned above.
Also, we can recommend you contacting several reliable insurance companies with the question “How much is car insurance for a 16-year-old?” which will also you to choose the best possible conditions.