Ahhh, you are on the age old quest of finding cheap car insurance for a 17 year old, or any young driver. The bad news is, cheap car insurance and the word teen just don’t go hand in hand. The good news is that there are ways to save money on your insurance, but you have to be willing to shop around.
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One of the most expensive types of driver to insure today is a teen driver. They simply lack the experience and the understanding of their mortality to make insurance companies comfortable when it comes to providing insurance for this age group.
While a 17 year old driver may be less to insure if they have had 2 years of driving experience, assuming they started driving at 15 years of age, they still won’t find much in the way of cheap car insurance. The most you can hope for is finding more affordable car insurance.
Why is car insurance so expensive for 17 year olds?
It isn’t just 17 year old teens that face the high cost of car insurance, it is teen drivers in general.
While a teen will see a reduction in price when they turn 19, the real changes don’t start occurring until you are in your early to mid 20’s.
The bottom line is, as mentioned above, a 17 year old doesn’t have the driving experience necessary to place them in the safe driver category, even if they have, to date, been a safe driver.
What’s more, most teens really don’t understand the concept of being able to die, which usually makes them a little more reckless behind the wheel of a car.
When you look at statistics for car accidents, teen drivers are unequivocally responsible for the highest levels of deaths for any car accident type.
In addition, the highest percentage of every type of accident, including drunk driving accidents, are caused by teens; it’s no wonder that car insurance companies are leery when it comes to providing insurance to this age group.
What’s worse is that male drivers are statistically worse drivers than female drivers are. This means if you have a teen boy who is 17, you will be paying more for your insurance than your neighbor who has a teen girl who is 17.
Is it hard to get car insurance for 17 year olds?
While insurance companies don’t really like insuring teens, that doesn’t mean that they won’t insure them. The good news is that most major and many small insurance companies sell auto insurance policies to any age group.
You do need to be aware, however, that the cost for insuring a 17 year old will generally be at least two times the cost of your own insurance and it could be more!
If you allow your teen to driver your personal vehicle and you have a full coverage insurance policy, then you will be paying a high premium for your child’s auto insurance.
What’s more, if you drive a nice vehicle or worse, a sports car, then you can really expect to pay more for your auto insurance.
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Can I find affordable car insurance for 17 year olds?
While you may not be able to find cheap car insurance for your teen, it is possible that you could find car insurance that is a bit more affordable than double your current insurance rates; but you may have to make some changes to make that happen. Here are some pointers:
- The first thing that you really want to consider is having your teen in their own car and keeping them off of your insurance policy altogether. Buying your teen their own vehicle may be the furthest thing from your mind, but if they have their own car that doesn’t require high levels of insurance, then you will save money.
- Another thing you should consider is a high deductible for your child’s insurance policy. For parents that can’t afford a $1000 deductible, make your teen open an account to keep that money in. This may even lead to safer driving because your kid doesn’t want to lose that thousand bucks!
- Most insurance companies offer discounts for drivers of any age that take defensive driving courses. Not only is this a good idea to save money, but it is a good idea in general for all teen drivers.
Is there anything else to help keep my teen’s car insurance as low as possible?
The biggest thing that will help lower the car insurance premium of a teenager is time. Once the young driver turns 25, they will be considered a safer adult driver and their insurance rates will decrease.
Until that time, there are a few things that will help keep a teenager’s insurance rate lower.
Many car insurance companies will offer discounts to help you save money on your premiums, and some of them benefit young drivers.
If your teenager is a good student and gets a “B” average or greater, they will usually be able to take advantage of a good student discount.
The reason for this is because insurance companies equate good students with those who are responsible drivers, so their chances of being in an accident are lower.
Lastly, you need to ensure that you shop around for your 17 year old’s car insurance. This is the only way to ensure that you are getting the lowest price for your child’s auto insurance.
The older your teenager is when he or she starts driving, the cheaper their insurance will be. For most teenagers, the thought of waiting even longer to drive is unbearable, but if they are willing to (or if they are paying for their own insurance), they may choose to put off driving for a year or so in order to save a little money.
The type of vehicle the teenager drives may also help save money. A vehicle with anti-theft and safety features may help them save a bit on their premium.
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