How Much Does Insurance Cost For A 16 Year Old

How much does insurance cost for a 16 year old? The answer to that question is not cut and dried. There are a lot of variables to consider, when it comes to driver premiums for teenager drivers. Here are some important things to consider, when you shop for this kind of coverage.

Vehicle

The vehicle that a teenager drives has a lot to do with the cost of coverage. For example, a car with a lot of horsepower, and one that is built for performance, is going to be considerably higher than a normal vehicle. In fact, some teen drivers may not be able to get coverage on some vehicles, especially if they have any marks on their driving record.

Full or Part Time

If a teenage driver is insured as a part time driver, the rates will be much lower. This is due to the fact, that the teenager is not expected to drive every day. Insurance companies see this as a less risky proposition. Full time driving rates will be high, and this is due to the track record of sixteen year old drivers. This group of drivers has the highest rate of accidents among all drivers, with males being the highest.

If you want to insure a teen as part time driver, you will need to have fewer vehicles than drivers, in the household. For example, a household may have both parents and one teen that are licensed drivers. If there are only two cars or less, then the teen can be a part time driver. However, if there are three cars, then the teen must be registered as a full time driver.

Discounts

Teenagers can qualify for important discounts on their coverage. Many companies offer discounts for students with good grades. They also may offer a discount for students that successfully complete a driver training course.

Collision Coverage

If a teen is driving an older vehicle, it may not be necessary to carry collision coverage. However, there will not be any accident coverage if the teen is responsible for damages to the car. Yet, this can save a lot of money.

Summary

How much does insurance cost for a 16 year old? The answer is, coverage is very expensive, but you can do things to reduce the costs. Drive an older car, and try to get good grades. Also, take approved driver education training, and check into registering as a part time driver. This will save a lot of money.