How much is car insurance cost for 16-year-old per month

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When it comes to car insurance for 16-year-old drivers, the cost can vary depending on the coverage levels chosen. On average, car insurance for 16-year-old drivers can cost around $192 per month for state minimum liability only coverage. Opting for 50/100/50 liability coverage can increase the average cost to $231 per month. For more comprehensive coverage – Full coverage, the average cost jumps to $591 per month.

How much is car insurance for 16-year-old female and male per month

Gender can also play a role in determining car insurance rates for 16-year-old drivers. On average, 16-year-old females can expect to pay around $523 per month for car insurance, while their male counterparts may face slightly higher rates  at $591 per month.

How average car insurance rates for 16-year-old vary by state

Car insurance rates for 16-year-old drivers can vary significantly depending on the state they reside in. For example, in Alaska, the average cost for car insurance for a 16-year-old is $500 per month, while in Alabama it is $565. In other states like Louisiana and Rhode Island, the average cost can skyrocket to $1,298 and $1,006 per month, respectively. On the other end of the spectrum, Hawaii offers the lowest average cost at $126 per month.

Low-cost car insurance for 16-year-old per month

Finding affordable car insurance for 16-year-old drivers is possible. Some companies offer lower average costs, such as Island Insurance at $139, North Carolina Farm Bureau at $291, and Mapfre Insurance at $336.

Comparing rates from multiple insurers is one of the easiest ways to find which insurer offers the lowest cost for 16-year-old driver and provides all the required coverage.

The impact of adding a 16-year-old driver to a family’s existing auto insurance policy

Adding a 16-year-old driver to a family’s existing auto insurance policy can lead to significant savings compared to getting their own policy. On average, a 16-year-old driver can expect to pay $591 per month for their own policy. However, by adding them to their parent’s policy, the cost can decrease to $196 per month, resulting in savings of $395 per month. This option can be a more cost-effective solution for families looking to insure their young drivers.

Conclusion

Car insurance costs for 16-year-old drivers can vary based on coverage levels, gender, state of residence, and choice of the insurance company. Opting for higher coverage increases the average cost, while gender differences can also impact insurance rates. The average cost varies significantly by state, with some states having substantially higher premiums than others. However, affordable options exist, and it is possible to find lower-cost insurance for 16-year-old drivers by comparing rates from different insurers.

Additionally, adding a 16-year-old driver to a family’s existing policy can lead to significant savings compared to getting a separate policy. Families looking to insure their young drivers can consider this cost-effective option.

Methodology

Insure.com commissioned data for Average car insurance rates for 16-year-old drivers from Quadrant Information Services for all 50 states and Washington, D.C. Rates are based on the following profile:

• 16-year-old-year old driver
• Honda Accord LX
• 12-mile daily commute, 10,000 annual miles
• Good credit
• Clean record

Rates are based on coverage limits of:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

Insure.com analyzed rates from more than 34,000 ZIP codes, 56 million quotes, and 136 companies. Rates sourced from Quadrant Information Services are for comparison purposes only; your rates may differ.