Know more about the Cost of Car Insurance for a 17 year old
Sep 22, 2019 10:53
There are chances of having car accidents at any point of time, which can damage the car and makes the person accountable for all these things. The damage to the car and even injuries to self can be extremely expensive. They might cross an individual’s budget and cannot be paid easily. One need not worry or sell anything; it is possible to get car insurance that covers all the above mentioned issues. It is possible to get car insurance for a 17 year old as well.
How much is insurance for a 17 year old? The car insurance for a 17 year old is certainly dependent on his or her pay. The rate of the car insurance also depends on the place where one lives, the car one drives and the coverage one may get. Usually, there is a separate policy for teens aged 17, which are, based on the coverage limit that is in association with the state.
The car insurance cost for a 17-year female falls only with the driving experience of each extra year. The monthly premium for a safe driver even for a 17 year old comes out to be $300 to $500. The monthly premiums of the same policy may come around to be $150 and for a 20 year old, it is around $350. It is a well known fact that the cost of car insurance for a 17 year old male is way higher as compared to a 17 year old female.
It is mostly not advised to have separate car insurance for a 17 year old as it may turn out to be very expensive. A lot of parents go for the easier option which is less costly that is to add the teen in the existing policy of the parents. The reason why it is taken to be cheaper is that the policy cost is based on the driving experience and record of the policyholder who is the parent. A 17 year old may not get coverage the way their parents get like multi- policy, multi- vehicle and even loyal discounts. Even with these discounts in hand, a 17 year old teenage driver added to an existing policy can hike the rates.
Along with the other advantages of clubbing parent and teenage child to share insurance is that even if the teen uses their parent’s car, they will be covered. And in case, the parent drives the child’s car, they will also remain covered.
Even though car insurance for a 17 year old can be highly expensive, there are various kinds of discounts that they are eligible for. It includes driver’s education by getting 5% discount on it to ensure that the teen completes the driving education course. It is considered very helpful to take these classes for the teen.
If one is a good student as a driver, they are bound to get 15% discount that is if they maintain B or 3.0 as an average in the class. There should be a solid contract between the parents and the teen when it comes to the rules and regulations. There should be specific driving hours decided by both of them. The parent is required to keep a check on the driving of their child. This ensures discount of 5%.
It is an established fact that getting a separate policy for a 17 year old at a lower cost is not worth it as it will miss out on a lot of important coverage. It is always very essential to study everything on sites like https://www.cheapautoinsurance.com before getting car insurance for your 17 year old!
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