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New drivers pay more for car insurance than experienced drivers, but some companies still offer great rates and comprehensive coverage.
Best Car Insurance Companies For New Drivers
Written by Daniel Robinson, Written by: By Daniel Robinson Author Daniel is a Group Writer for Guides and has written on auto finance and car care topics for a number of automotive news sites and marketing organizations in the US, UK and Australia. Daniel is a Guide Group authority on auto insurance, loans, warranty options, car services and more.
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Edited by: Rashawn Michner Editing by: Rashawn Michner Managing Editor Rashawn Michner is a Guides team editor with over 10 years of experience covering personal finance and insurance topics.
Reviewed by: Mark Friedlander Reviewed by: Mark Friedlander Consultant Mark Friedlander is director of corporate communications at the Insurance Information Institute (Triple-I), a New York-based nonprofit research and education organization focused on improving consumer awareness. Insurance. Mark serves as a national spokesperson for Triple-I, handling numerous insurance industry media events. His responsibilities include leading the association’s hurricane season communications strategy and member company support and media outreach in Florida.
We at the Guides team give you an overview of what new drivers can expect to pay for car insurance, who qualifies as a new driver and what factors shape the price of an insurance policy. Our experts have analyzed and rated the best auto insurance companies in the industry, and we recommend comparing providers to find the best rates.
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The Guide Team is committed to providing you with reliable information to help you make the best decision about insuring your vehicle. Because consumers trust us to provide objective and accurate information, we’ve created a comprehensive rating system to rank the best auto insurance companies. We’ve collected data from dozens of auto insurance providers to rank the companies on a variety of rating factors. After 800 hours of research, the final result was an overall ranking for each carrier, with insurers with the most points at the top of the list.
There is no separate car insurance policy for new drivers. Each state sets its own minimum car insurance requirements, and car insurance for new drivers is the same as any other driver’s policy. While a lack of driving experience doesn’t change how much insurance you need, it does affect the price.
You are required to purchase at least your state’s minimum required coverage, which includes personal injury and property damage auto insurance. Some states require uninsured/underinsured motorist coverage and personal injury protection. Below are six common types of auto insurance.
As a new driver, there are a number of factors that can affect the amount of car insurance you pay, including your location, vehicle, driving record and credit history. Age and driving experience are two factors that insurers weigh heavily, as they are key indicators of how risky a driver is.
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$6,050 per year or $504 per month. Prices are higher for new drivers, especially teenagers and young drivers, which is highlighted in the table below.
*The rate averages above are individual rates for teenage and young drivers, among the most common groups represented for new and inexperienced drivers.
Below are the average annual costs from several reputable providers for comprehensive coverage insurance for a 25-year-old with good credit and a good driving record.
As the chart above shows, National and Travelers offer the cheapest rates on average for new drivers. We found that nationally, 25-year-old drivers who qualify for coverage pay an average of $1,633 per year, or $139, for a full-coverage auto insurance policy.
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New drivers can pay $3,000 or more per year for car insurance, depending on the company. New drivers are more expensive to insure due to lack of driving record. Younger drivers are more likely to be involved in accidents, which also increases the cost of car insurance.
One of the reasons insurance companies raise rates for young drivers is their increased risk of accidents due to their lack of experience behind the wheel. According to the Centers for Disease Control and Prevention, car accidents are the second leading cause of death for teenagers in the United States. According to an additional report from the Insurance Institute for Highway Safety, Nearly two out of three teenagers who die in accidents in 2020 are boys.
The best way to make sure you get the lowest rates possible as a new driver is to contact multiple providers to get car insurance quotes. Car insurance companies evaluate several factors when considering coverage. Some focus on the auto policy, but many others have to do with the driver’s demographics and driving record.
There’s no one surefire way to find the best rate for auto insurance, but there are a few things you can do to get lower auto insurance premiums. If you are shopping for car insurance for new drivers, we recommend using the following strategies.
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No two insurance companies will give you the same price. Taking the time to compare car insurance rates can give you a rough idea of what you might pay when you add someone to your old policy or how much you could save by switching providers.
When deciding between two companies, like our Allstate vs. Progressive Review or State Farm Vs. A Geico review may help to read available comparisons. These break down each company’s discount offers and customer reviews side by side.
Since having a poor credit score can raise your rates, building good credit before you start driving is a smart way to get cheap car insurance as a new driver.
Improving your credit may seem like a daunting task, but there are many things you can do today to improve your credit score. Here are 7 easy steps to increase your credit so you can get a lower rate on your car insurance.
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Many car insurance companies offer discounts for young drivers and students, but you can save money in other ways. Bundling with your own coverage, such as homeowners insurance, can lower your premiums, so make sure your insurer offers a multi-policy discount. Here are some common discounts offered by insurance providers.
If you want to save and have a new driver on the road, getting your current car policy amended may give you better value. Choosing a higher deductible often leads to lower premiums, but it also means paying more if you file an insurance claim.
Another option is to discard the cover you don’t need. If one of your cars is older and you own it, you can stop paying for collision insurance and comprehensive coverage. In most states, you will still have to pay for liability insurance if you decide to drop the remainder of your full coverage policy.
Also known as telematics insurance, usage-based auto insurance coverage measures driving behaviors and mileage and uses this data to set rates. By linking the monthly bill to actual time on the road and good driving habits, usage-based insurance policies cost customers less than traditional auto insurance, according to the National Association of Insurance Commissioners.
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Guidelines based on usage may not be available in all states. They’re not a good option if you drive a lot or commute long distances, and those with poor driving experience may find their prices higher.
Although teenage drivers may be the first group that comes to mind when you think of new drivers, there are many types of first-time drivers. Here are some examples of people who may be considered novice drivers:
Since car insurance costs vary from person to person, there are tips for new drivers that are unique to each of these groups. In the sections below, we’ll look at some of the specifics of getting car insurance for each group.
It can be exciting for a teenager to start driving on their own for the first time, but the cost of car insurance for new drivers is usually high. As mentioned, age is one of the main factors that insurance companies take into account when calculating rates.
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Often the best way to get cheap car insurance for young drivers is to stay on their parents’ policy. Car insurance companies offer many discounts for families to save money on insurance coverage, including:
Young drivers cannot buy their own policy unless they own their own car and have the same permanent address as their parents. Keep in mind that drivers under the age of 25 often pay higher rates. A young driver can be added to an existing family insurance policy.
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