Costs for car insurance can vary wildly, especially for first-time or new drivers. In the insurance world, anyone without a driving history or record of previous insurance is considered a new driver. While there are some new drivers who are adults, oftentimes new drivers are teenagers.
New drivers can typically expect to pay more for car insurance in Utah than more experienced drivers, but it is still possible to secure affordable coverage. The key to finding the best coverage at the best price? Do your homework. Get multiple quotes and compare them side by side.
How do you know you’re getting adequate coverage without breaking the bank? Striking a balance between getting the coverage you need and the price you want can be a challenge, but it is not impossible.
When it comes to providers, there isn’t a single company that positions itself specifically for first-time or teen drivers, but there is a handful that will purposefully provide incredibly high rates for those drivers to avoid providing their policies that you probably want to avoid. Often these are the “Preferred” companies that target the auto/home bundles and look for clients with high credit scores and sometimes even high net worth.
The best (and cheapest) car insurance for new drivers is often whichever company their family is already using. Adding a new teen driver to an existing policy will increase the cost of the policy significantly, but is typically far less expensive than the new driver purchasing their own standalone policy.
How much does it cost to add a teenager to car insurance? The typical new teen driver on their parent’s policy pays more than $1,300 for car insurance every six months. Teen driver insurance costs vary based on a number of details. Because different insurance companies price their policies based on different factors, it is difficult to estimate what a new driver’s insurance premiums will be without a bit of information about the driver.
Some factors that affect coverage costs are easier to control than others. While no one can change their age or state requirements, they do have some control over their driving record and the make and model of their vehicle. The main aspects of insurance coverage that drive the policy price include the age of the person getting coverage, the value of their vehicle, and the insurance requirements of the state they live in.
Premiums are typically highest for teenage drivers, due to their higher accident risk. Male teen drivers can expect to pay even more than their female counterparts. On average, male teen drivers spend about $500 more for annual premiums than their female counterparts, according to Bankrate.com.
The bottom line? Do your homework, know what coverage your new teen driver needs and what they don’t, know what you can afford, and choose the best car insurance coverage for your family accordingly.
Whether the new driver is an adult or a teenager in your house, our agents will work with you to find you the best coverage at the best price. Contact our offices in Provo or Payson to get your free quote.
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