Car insurance for a 17-year-old driver can vary significantly depending on many factors, including the type of car being insured, the driver's driving history, and the location where the car is being driven. However, there are some general guidelines that can help you estimate how much you might pay for car insurance for a 17-year-old driver.
On average, 17-year-old drivers pay significantly more for car insurance than older drivers. This is because they are considered to be high-risk drivers due to their lack of experience on the road. In fact, according to the Insurance Information Institute, 17-year-old drivers are three times more likely to be involved in a fatal car accident than drivers who are 20 years old or older.
With that in mind, let's take a closer look at some of the factors that affect the cost of car insurance for a 17-year-old driver.
How Much is Car Insurance for a 17-Year-Old Per Month?
Many factors affect cost.
- Age and driving history
- Type of car
- Location
- Coverage level
- Deductible amount
- Discounts
- Gender
- Credit score
Shop around for the best rate.
Age and driving history
Age and driving history are two of the most important factors that affect the cost of car insurance for a 17-year-old driver.
- Younger drivers pay more: Insurance companies view younger drivers as higher-risk drivers because they have less experience on the road and are more likely to be involved in accidents.
- Driving history matters: If a 17-year-old driver has a clean driving record with no accidents or violations, they will likely pay less for car insurance than a driver with a history of accidents or traffic tickets.
- Type of car: The type of car a 17-year-old driver is also a factor in determining the cost of insurance. Sports cars and other high-performance vehicles are typically more expensive to insure than sedans or minivans.
- Location: The cost of car insurance also varies depending on where the 17-year-old driver lives. Drivers in urban areas typically pay more for insurance than drivers in rural areas.
By taking these factors into account, insurance companies can assess the risk of insuring a 17-year-old driver and set their rates accordingly.
Type of car
The type of car a 17-year-old driver is also a factor in determining the cost of insurance. Sports cars and other high-performance vehicles are typically more expensive to insure than sedans or minivans. This is because sports cars are more likely to be involved in accidents and are more expensive to repair.
In addition, insurance companies also consider the safety features of a car when setting rates. A car with more safety features, such as airbags and anti-lock brakes, will typically be less expensive to insure than a car with fewer safety features.
Here are some examples of how the type of car can affect the cost of insurance for a 17-year-old driver:
- Sports car: $2,000 per year
- Sedan: $1,500 per year
- Minivan: $1,200 per year
As you can see, the type of car can have a significant impact on the cost of insurance for a 17-year-old driver. Therefore, it is important to choose a car that is both safe and affordable to insure.
It is also important to note that some insurance companies offer discounts for drivers who choose safe cars. Therefore, it is worth shopping around to find an insurance company that offers a discount for the type of car you are driving.
Location
The cost of car insurance also varies depending on where the 17-year-old driver lives. Drivers in urban areas typically pay more for insurance than drivers in rural areas.
- Urban vs. rural: Insurance rates are typically higher in urban areas because there is more traffic and more accidents. Drivers in rural areas typically pay less for insurance because there is less traffic and fewer accidents.
- State laws: Insurance rates also vary from state to state. Some states have no-fault insurance laws, which means that drivers are not held liable for accidents that they did not cause. This can lead to lower insurance rates. Other states have tort laws, which means that drivers can be held liable for accidents that they did not cause. This can lead to higher insurance rates.
- Crime rates: Insurance rates can also be higher in areas with high crime rates. This is because cars are more likely to be stolen or vandalized in these areas.
- Weather conditions: Insurance rates can also be higher in areas with severe weather conditions, such as hurricanes or tornadoes. This is because cars are more likely to be damaged in these areas.
Therefore, it is important to consider the location where the 17-year-old driver will be driving when shopping for car insurance.
Coverage level
The coverage level of the car insurance policy is also a factor that affects the cost of insurance for a 17-year-old driver.
- Liability coverage: Liability coverage pays for damages that the 17-year-old driver causes to other people or their property. This is the minimum level of coverage required by law in most states. However, it is important to note that liability coverage does not cover damages to the 17-year-old driver's own car.
- Collision coverage: Collision coverage pays for damages to the 17-year-old driver's own car, regardless of who is at fault for the accident. This coverage is optional, but it is recommended for 17-year-old drivers because they are more likely to be involved in accidents.
- Comprehensive coverage: Comprehensive coverage pays for damages to the 17-year-old driver's car that are not caused by a collision, such as theft, vandalism, or fire. This coverage is also optional, but it is recommended for 17-year-old drivers because they are more likely to have their cars stolen or vandalized.
- Uninsured/underinsured motorist coverage: Uninsured/underinsured motorist coverage pays for damages to the 17-year-old driver's car and injuries if they are hit by a driver who does not have insurance or does not have enough insurance. This coverage is optional, but it is recommended for all drivers, including 17-year-old drivers.
The more coverage you choose, the higher your insurance rate will be. Therefore, it is important to choose a coverage level that meets your needs and budget.
Deductible amount
The deductible amount is the amount of money that the 17-year-old driver is responsible for paying out of pocket before the insurance company begins to pay for damages. The higher the deductible, the lower the insurance rate will be. However, it is important to choose a deductible amount that you can afford to pay in the event of an accident.
For example, if you choose a $500 deductible, you will be responsible for paying the first $500 of damages to your car in the event of an accident. The insurance company will then pay for the remaining damages.
If you have a higher deductible, such as a $1,000 deductible, you will pay less for insurance each month. However, you will also be responsible for paying the first $1,000 of damages to your car in the event of an accident. Therefore, it is important to choose a deductible amount that you are comfortable with.
Here are some tips for choosing a deductible amount:
- Consider your budget. How much can you afford to pay out of pocket in the event of an accident?
- Consider your driving history. If you have a clean driving record, you may be able to afford a higher deductible.
- Consider the value of your car. If you have an expensive car, you may want to choose a lower deductible to ensure that you are fully covered in the event of an accident.
By following these tips, you can choose a deductible amount that meets your needs and budget.
Discounts
There are a number of discounts that can help to reduce the cost of car insurance for a 17-year-old driver. These discounts can vary from insurance company to insurance company, but some common discounts include:
- Good student discount: This discount is available to 17-year-old drivers who maintain a good grade point average. The discount can range from 5% to 25%.
- Safe driver discount: This discount is available to 17-year-old drivers who have a clean driving record. The discount can range from 5% to 10%.
- Multi-car discount: This discount is available to 17-year-old drivers who insure more than one car with the same insurance company. The discount can range from 5% to 15%.
- Anti-theft device discount: This discount is available to 17-year-old drivers who install an anti-theft device in their car. The discount can range from 5% to 10%.
By taking advantage of these discounts, 17-year-old drivers can save money on their car insurance. Therefore, it is important to ask your insurance company about all of the discounts that you may be eligible for.
Gender
In some states, gender can also affect the cost of car insurance for a 17-year-old driver. In general, male drivers pay more for car insurance than female drivers. This is because male drivers are more likely to be involved in accidents and file claims.
However, it is important to note that not all insurance companies use gender as a rating factor. In fact, some states have laws that prohibit insurance companies from using gender to set rates.
If you are a 17-year-old male driver, you can still find affordable car insurance. Here are some tips:
- Shop around for quotes from multiple insurance companies. Some companies may offer lower rates to male drivers than others.
- Ask about discounts. Some insurance companies offer discounts to male drivers who have good grades, a clean driving record, or who install an anti-theft device in their car.
- Consider raising your deductible. The higher your deductible, the lower your insurance rate will be. However, it is important to choose a deductible that you can afford to pay in the event of an accident.
By following these tips, you can find affordable car insurance even if you are a 17-year-old male driver.
It is important to note that the cost of car insurance for a 17-year-old driver can vary significantly depending on a number of factors. Therefore, it is important to shop around for quotes from multiple insurance companies before making a decision.
Credit score
In some states, credit score can also affect the cost of car insurance for a 17-year-old driver. Insurance companies use credit scores to assess a driver's risk. Drivers with good credit scores are generally considered to be less risky than drivers with poor credit scores. This is because drivers with good credit scores are more likely to pay their bills on time and are less likely to file claims.
However, it is important to note that not all insurance companies use credit scores to set rates. In fact, some states have laws that prohibit insurance companies from using credit scores as a rating factor.
If you are a 17-year-old driver with a poor credit score, you can still find affordable car insurance. Here are some tips:
- Shop around for quotes from multiple insurance companies. Some companies may offer lower rates to drivers with poor credit scores than others.
- Ask about discounts. Some insurance companies offer discounts to drivers who have good grades, a clean driving record, or who install an anti-theft device in their car.
- Consider raising your deductible. The higher your deductible, the lower your insurance rate will be. However, it is important to choose a deductible that you can afford to pay in the event of an accident.
By following these tips, you can find affordable car insurance even if you are a 17-year-old driver with a poor credit score.
It is important to note that the cost of car insurance for a 17-year-old driver can vary significantly depending on a number of factors. Therefore, it is important to shop around for quotes from multiple insurance companies before making a decision.
FAQ
Here are some frequently asked questions about how much car insurance costs for a 17-year-old driver per month:
Question 1: How much does car insurance cost for a 17-year-old driver per month?
Answer 1: The cost of car insurance for a 17-year-old driver varies depending on a number of factors, including the driver's age, driving history, type of car, location, and coverage level. However, on average, 17-year-old drivers pay significantly more for car insurance than older drivers.
Question 2: What are some factors that affect the cost of car insurance for a 17-year-old driver?
Answer 2: Some factors that affect the cost of car insurance for a 17-year-old driver include the driver's age, driving history, type of car, location, coverage level, deductible amount, discounts, and gender (in some states) and credit score (in some states).
Question 3: How can a 17-year-old driver save money on car insurance?
Answer 3: There are a number of ways that a 17-year-old driver can save money on car insurance, including shopping around for quotes, asking about discounts, raising the deductible, and maintaining a good credit score (in some states).
Question 4: What is the average cost of car insurance for a 17-year-old driver?
Answer 4: The average cost of car insurance for a 17-year-old driver varies depending on the factors listed above. However, on average, 17-year-old drivers pay around $2,000 per year for car insurance, or about $170 per month.
Question 5: What is the cheapest car insurance company for a 17-year-old driver?
Answer 5: The cheapest car insurance company for a 17-year-old driver varies depending on the driver's individual circumstances. However, some of the most affordable car insurance companies for 17-year-old drivers include Geico, Progressive, and State Farm.
Question 6: How can I find the best car insurance rate for a 17-year-old driver?
Answer 6: The best way to find the best car insurance rate for a 17-year-old driver is to shop around for quotes from multiple insurance companies. You can also ask about discounts and consider raising the deductible to lower your rate.
It is important to note that the cost of car insurance for a 17-year-old driver can vary significantly depending on a number of factors. Therefore, it is important to shop around for quotes from multiple insurance companies before making a decision.
In addition to the tips above, here are some additional tips for saving money on car insurance for a 17-year-old driver:
Tips
Here are some additional tips for saving money on car insurance for a 17-year-old driver:
Tip 1: Maintain a good driving record.
One of the best ways to save money on car insurance is to maintain a good driving record. This means avoiding accidents and traffic violations. If you have a clean driving record, you will be considered a lower risk driver by insurance companies and you will pay less for car insurance.
Tip 2: Choose a car with a good safety rating.
Cars with good safety ratings are typically less expensive to insure than cars with poor safety ratings. This is because cars with good safety ratings are less likely to be involved in accidents.
Tip 3: Consider a usage-based insurance policy.
Usage-based insurance policies are a type of car insurance that tracks how much you drive and how safely you drive. If you drive less or more safely, you will pay less for car insurance. Usage-based insurance policies can be a good option for 17-year-old drivers who don't drive very much or who are safe drivers.
Tip 4: Ask about discounts.
Many insurance companies offer discounts to 17-year-old drivers. These discounts can include good student discounts, safe driver discounts, and multi-car discounts. Be sure to ask your insurance company about all of the discounts that you may be eligible for.
By following these tips, you can save money on car insurance for a 17-year-old driver.
In addition to the tips above, it is important to shop around for quotes from multiple insurance companies before making a decision. This is the best way to find the best car insurance rate for a 17-year-old driver.
Conclusion
The cost of car insurance for a 17-year-old driver can vary significantly depending on a number of factors, including the driver's age, driving history, type of car, location, coverage level, deductible amount, discounts, gender (in some states), and credit score (in some states).
However, there are a number of things that 17-year-old drivers can do to save money on car insurance, such as maintaining a good driving record, choosing a car with a good safety rating, considering a usage-based insurance policy, and asking about discounts.
By following these tips, 17-year-old drivers can find affordable car insurance that meets their needs and budget.
It is important to remember that the cost of car insurance for a 17-year-old driver can change over time. As the driver gains more experience and ages, the cost of insurance will typically go down.
Therefore, it is important to shop around for quotes from multiple insurance companies each year to make sure that you are getting the best rate possible.