How much is insurance for a new driver?

How much is insurance for a new driver?

How much does auto insurance cost for new drivers? Based on our research, the average cost of car insurance for a new driver is $4,762 a year, or $397 a month. Due to their inexperience on the road, new drivers pay significantly more than experienced drivers for coverage.

What’s the best car insurance for first time drivers?

Best Car Insurance Companies for First Time Drivers Over 25

• Erie Insurance.
• American Family Insurance.
• State Farm.
• Geico.
• Progressive.
• Allstate.
• Nationwide.
• Liberty Mutual.

How much is car insurance a month for a 16 year old?

Cost of car insurance for a 16-year-old We found that 16-year-olds can expect to pay on average $813 per month for car insurance. Among the different insurers we analyzed, rates ranged from $311 to $1,141 per month for full coverage, which highlights the importance of getting quotes from multiple insurers.

What is the cheapest car insurance for first time drivers?

The 3 best auto insurance companies for new drivers. Our research indicates Nationwide, USAA and GEICO provide the cheapest insurance rates for new and young drivers.

Why is first time car insurance so expensive?

Insurers tend to charge first-time drivers much higher rates, regardless of age, because these drivers lack experience. In some cases, you can expect to pay $5,000 or more for car insurance in your first year.

Which is the best car insurance company for a new driver?

While car insurance for new drivers is typically expensive, our research shows that GEICO, Nationwide and USAA are among the cheapest major car insurance companies for new drivers.

Are there any discounts on car insurance for new drivers?

The small amount of time and money you’ll invest will pay off — a discount between 5% and 20% on your car insurance premiums is typical. Most car insurance companies offer a handful of discounts that can save you some money on your new driver insurance premium.

Why are new drivers more expensive to insure?

New drivers don’t have an established driving history and are statistically more likely to get into car accidents, making them a higher risk for insurance companies and therefore a lot more expensive to insure.

What to look for in a car insurance policy for a new driver?

As a new driver, you might want to choose a low- to mid-priced vehicle with a good safety rating. If you live with parents or other family members who drive, adding yourself to their policy may help you get lower rates. Most insurance companies offer discounts for policies with multiple people.