How much is car insurance for an 18 year old?

18 Year old Car InsuranceParents who need car insurance for an 18 year old car will certainly have another thing to think about. They want to know how much auto insurance for an 18 year old costs. You need to be creative and have all the car insurance information to save on insurance payments and steer your child away from accidentally ruining his insurance history.

There is some debate as to whether insurance should be taken out for an 18 year old. Car insurance however is something that is a no brainer and will make it worthwhile in case of an accident. Is it worth taking the risk?

Did you know? Any teen below the age of 21 falls under the high insurance risk category and any claims made with the insurance company with kids this age will impede insurability of the child until they reach legal age.

How much is car insurance for a 18 year old?

The two factors that matter

If you are looking for an insight on the insurability of your  18 year old, car insurance companies will tell you that gender and driving experience are qualifying factors for the kind of premium your child will have to pay to be insured.

The average cost for 18 year old car insurance:

An 18-year-old driver will pay an average of $4,055 per year for car insurance according to the website.

However, how much you pay will depend on whether you are male or female. Yes, sounds unfair but find out why this is…

Car insurance for 18 year old male

Males under the age of 21 who are first time drivers will command the highest insurance payments on the market, attributed to decades of insurance studies on the prevalence of teenage vehicle accidents caused by a male driver. This is not a stigma or a stereotype of the insurance companies but is a fact that has been reinforced by countless insurance claims over the years.

Young men tend to:

  • drive faster
  • take more risks
  • lack the judgement of their female counterparts.

What not to do when getting insurance:

Arguing with the car insurance agent about why your teenage son will have to pay more to be insured won’t get you anywhere and will probably get you denied insurance coverage. For an 18 year old, car insurance agents that will steer you in the right direction. At this age you really don’t have much of a choice, and if you want to cultivate your son’s insurability until he reaches legal age you should be careful about how he uses his insurance as well.

Car insurance for 18 year old female

Auto insurance an 18 year old female, varies by state but the good news is that it can be significantly cheaper than for a male of the same age.

An example of cheaper car insurance for females is:

In the state of California, rates for 19 year old males are on average 14% higher than rates for 19 year old females.

Any age before 21 is considered high risk in the insurance business. This means that if a claimant makes herinsurance claim at a high risk age, her claims will become a stamp against her insurability as it will be viewed as liability based on reckless judgement.

The $1000 rule that will save you money 

A lot of teenagers make the mistake of filing a claim with insurance companies for car repair and vehicular policy qualifiers worth less than $1000. Doing so will jack up the insurance prices for your teen once his insurance lapses and requires renewal. Having a higher deductible on the policy will help to keep the teen insured and prevent them from making claims for anything that is not a major incident.

Consider getting added to your parent’s car insurance policy if you are 18 years old as it may work out cheaper.

I hope you enjoyed this important discussion. Feel free to copy/paste this link and email it to anybody you know that might be able to use this info.

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