Average Cost For Car Insurance For 18 Year Olds

The Rising Cost of Car Insurance For 18 Year Olds

As an 18-year-old, you are just getting your first taste of freedom, and you're eager to get out on the open road. But before you do, you'll need to get car insurance. Unfortunately, for young drivers, car insurance can be quite expensive. According to data from the National Association of Insurance Commissioners (NAIC), the average cost of car insurance for an 18-year-old is $3,453 a year. This is significantly higher than the average cost for all drivers, which is $1,548.

Why is Car Insurance for 18 Year Olds So Expensive?

The reason for the higher cost of car insurance for 18-year-olds is simple: they are more likely to be involved in an accident due to their lack of driving experience. According to the Centers for Disease Control and Prevention (CDC), drivers aged 16-19 are three times more likely to be involved in a fatal crash than drivers aged 20 and older. This means that insurance companies must charge higher rates for 18-year-old drivers to cover their increased risk.

How to Save on Car Insurance for 18 Year Olds

While car insurance for 18-year-olds may be expensive, there are several ways to save. The first is to get good grades in school. Many insurance companies offer discounts to students who maintain at least a B average. Another way to save is to take a defensive driving course. Taking a defensive driving course can not only help you become a safer driver, but it can also qualify you for a discount on your car insurance.

Other Factors That Affect Car Insurance Rates

In addition to age, there are several other factors that can affect your car insurance rates. These include your driving record, the type of car you drive, and the type of coverage you choose. It's important to shop around and compare rates from different insurance companies to make sure you're getting the best deal.

The Bottom Line

The cost of car insurance for 18-year-olds can be quite expensive, but there are ways to save. Getting good grades in school, taking a defensive driving course, and shopping around for the best rates can all help lower your car insurance costs. With a little bit of effort, you can find car insurance that fits your budget.