Cheapest Car Insurance For Young Male Drivers – It’s no surprise that young, teenage drivers pay more for car insurance. A young driver’s lack of experience and limited driving history makes car insurance companies a risk to insure, so they charge more to insure new drivers. But how much does a new driver pay? We’ve crunched the numbers to find out the cost of UK car insurance for an 18-year-old driver in England by major city, so you know what you might pay depending on where you live. Rates are the same for 17 and 19 year olds.
If price is your priority, you may choose one of the cheapest plans available to you. The group collected insurance quotes for more than 400 young drivers in 10 cities in England and found that the average premium for the cheapest comprehensive insurance for an 18-year-old driver was £1,752 a year. But rates vary widely by region, with young drivers costing more than £2,000 a year in Liverpool, Birmingham, Bradford and Manchester. Young drivers in Sheffield and Bristol paid the least in our research, at just £1,100 a year. This means that young drivers in some areas pay almost twice as much as young drivers in other areas.
Cheapest Car Insurance For Young Male Drivers
With high insurance costs and the average driver spending over £1,000 on driving lessons (£34 an hour), becoming a young driver isn’t cheap.
Average Cost Of Car Insurance For Young Drivers (2023)
To find out what a young driver would typically pay for comprehensive car insurance, we’ve put together a quote for a typical 18-year-old male driver with a full UK license driving the UK’s most popular 2016 Ford Fiesta. (For more information on how insurance costs vary by car make and model, see our How much does it cost to insure the most popular cars in the UK?) In total, we’ve collected over 400 quotes for drivers living in London, Birmingham and Leeds. . , Sheffield, Bradford, Manchester, Liverpool, Bristol, Newcastle and Sunderland, which travel less than 5,000 miles per year. Quotes include courtesy car cover, breakdown, personal accident and legal defence. Here are the quotes collected from the plans of the following car insurance companies:
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Note on savings figures: *51% of customers could save £359.61 on their car insurance. The savings are calculated by comparing the cheapest price found on insurance comparison website Seopa Ltd with the average of the next four cheapest prices quoted by the insurance provider. This is based on representative cost savings data for November 2022. The savings you can achieve will depend on your individual circumstances and how you choose your current insurance provider. Pet savings figures are based on a 3-month-old Gertie dog or a 9-year-old Tong cat, with no medical conditions, recent vaccinations, and no microchips. Home insurance savings figures fell to £189.71 in November 2022 for 51% of customers who purchased building and contents insurance through this service offered by Seopa Ltd. The price you can afford depends on your individual circumstances. Affiliate Content: This content was created by business partners of Dow Jones and was researched and written independently of the newsroom. Links in this article may earn us a commission. Learn more
How Much Is Car Insurance For Teen Drivers?
The cheapest car insurance for a 21-year-old can be found at USAA for $134 per month or $1,609 per year for comprehensive policies.
Finding cheap car insurance for a 21-year-old can be difficult. Monthly and annual premiums are expensive because young drivers pose a greater risk to insurance companies. In this article, we at Guides Group identify the best car insurance for 21-year-olds and show you how to find affordable rates.
Cheap Car Insurance for Young Adults Car Insurance Discounts Best Car Insurance Companies Average Cost of Car Insurance
The team of guides are committed to providing reliable information to help you make the best car insurance decision. Because consumers depend on 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 rate companies on a number of factors. After 800 hours of research, the final result was an overall rating for each provider, with the highest-scoring insurers topping the list.
Does Having A Named Driver Affect My Insurance?
We estimate that a 21-year-old pays an average of $2,786 a year, or $232 a month, for comprehensive car insurance. That’s about 56% more expensive than the average price for 35-year-old drivers, which is $1,785 a year, or $149 a month. Generally, car insurance rates are more expensive for 21-year-olds than for older drivers.
The cost of car insurance for drivers under 21 is based on several factors, including driving history, location and credit score. Gender can play a role in calculating premiums, especially for teenagers or young adults. For example, young men have a disproportionately higher accident rate, which causes them to pay more for insurance than young women. However, some states do not allow insurance companies to use gender to calculate insurance premiums.
Compared to older drivers, 21-year-olds have less driving experience and are more likely to crash. Auto insurance companies compensate for these risk factors by charging higher rates for this age group.
According to the AAA Foundation for Traffic Safety, drivers between the ages of 20 and 24 were 74% more likely to be involved in a crash in 2015 than drivers over the age of 30. Below you can see the breakdown rates for each age group.
Tips For Finding The Best Cheap Car Insurance For Young Drivers By Sanjay
High-risk drivers pay higher rates on average, and young drivers often fall into this category. Below you can see how the average costs by age match up with the accident data above.
The cheapest car insurance for 21-year-olds is USAA, which averages $134 per month. However, USAA is only available to military personnel, veterans, and their immediate family members. Geico is the cheapest company available for any driver over the age of 21, with average rates of $154 per month. Other affordable companies include Auto-Owners Insurance, Erie Insurance and Nationwide.
Good car insurance for 21-year-olds isn’t cheap, but cheap rates certainly help. Below you can see the 21-year-old car insurance cost rankings of 11 popular providers.
*Auto insurance estimates are based on comprehensive insurance policies with deductibles of $50,000 per person for bodily injury, $100,000 per accident for bodily injury, $50,000 for property damage and collision, and $500 for comprehensive coverage.
Cheap Car Insurance And Average Costs For 16 Year Olds
Location is one factor that affects how much you pay for car insurance, and rates can vary greatly by state. Below are the cheapest auto insurance companies in each state for full coverage for 21-year-olds. In our estimation, USAA and Geico are the cheapest providers in most states.
While the national average for a 21-year-old is $232 a month, drivers in some states pay less. For example, insurance in North Carolina costs an average of $129 per month for seniors.
Because of population density or insurance regulations, some states are more expensive than others for 21-year-olds. Michigan, Connecticut and Massachusetts led the list.
Our five picks for the best car insurance for 21-year-olds are: Geico, USAA, State Farm, Nationwide, and Homeowners Insurance. When comparing car insurance companies, our team considers cost, reputation, coverage, affordability and customer experience. We found these companies to be affordable for the average young adult driver.
Car Insurance For A 23 Year Old Male: Everything You Need To Know
Overall, Geico is our pick for the best car insurance for 21-year-olds. Its 21-year-old car insurance rates are around 34% cheaper than the market average for the age category. Geico offers a great student discount of 15% for five years of accident-free driving and up to 22%.
The company has been in business since 1936 and has an A+ rating from the Better Business Bureau (BBB).
USAA offers the cheapest car insurance for the average 21-year-old, with rates 42% below the market average. However, we
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