Average Cost
According to RateWatch, the average cost of teenage auto insurance is $2,171 a year.Range of Costs
Teenage auto insurance can range from $1,200 to $4,900 a year.Many auto insurance companies will offer discounts of up to 25% for students that have at least a B average.
Driver's Education Discount
Most insurance companies offer up to a 15% discount for teens that have completed a state certified driver's education course.
Insure Teenagers on Your Own Policy
According to AMPM Insure, adding your teenager to your own policy is slightly cheaper than putting them on their own policy.
Stick To Older Cars
By purchasing an older car for your teenager you will have to be significantly lower rates. Insurance companies make you pay less for an older car because the cost of repairing them is much lower. However, most insurance companies also want to see good crash test ratings.
Teenage auto
insurance is the most expensive type of auto insurance. According to the Rocky Mountain Insurance Information Association, the risk of a crash for teenagers between the ages of 16 and 19 is three times as high as for drivers between the ages of 65 and 69. This forces insurance companies to charge higher rates for teenage auto insurance.
