How Much Is Insurance For New Drivers Under 21

Insurance for New Drivers Under 21 – What You Need To Know

Getting your driver’s license is an exciting time for anyone, but if you’re under 21, there’s an extra cost that comes along with it – car insurance. It’s important to understand what you’re getting into before you start shopping around and signing up for a policy. Here’s what you need to know about insurance for new drivers under 21.

Why Is Car Insurance So Expensive for Young Drivers?

Insurance companies view young drivers as high-risk customers. This is because statistics have proven that drivers under the age of 21 are more likely to be involved in an accident than older, more experienced drivers. Because of this higher risk, insurance companies charge young drivers more for car insurance.

What Factors Affect the Cost of Insurance for Young Drivers?

There are a few factors that can affect how much insurance for new drivers under 21 will cost. These include the type of car you drive, your driving record, and the amount of coverage you want. For example, a sports car will typically cost more to insure than a sedan. Additionally, if you have a clean driving record, you may be eligible for a discount. Finally, the amount of coverage you want will also affect the cost of your insurance.

How Can I Save Money on Car Insurance as a New Driver?

There are a few things you can do to save money on car insurance as a new driver. First, make sure to shop around and compare rates from different insurers. Additionally, some insurance companies offer discounts for good grades or for completing a driver’s education class. Finally, consider raising your deductible, which will lower your monthly premiums.

What Is the Average Cost of Insurance for New Drivers Under 21?

The average cost of car insurance for new drivers under 21 is $1,100 per year. However, the actual cost can vary widely depending on the factors mentioned above. It’s important to shop around and compare rates from different insurers to find the best deal for you.

Conclusion

Insurance for new drivers under 21 can be expensive, but there are things you can do to save money. Be sure to shop around and compare rates from different insurers, take advantage of discounts, and consider raising your deductible. By taking the time to do your research, you can find a policy that fits your budget.