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What is the best car insurance for a young driver?

Here's what you need to know...
  • Drivers age 16-25 have a higher incidence of fatal and serious collisions than any other age group
  • Insurance companies charge higher rates to groups with the most claims and loss, but they also offer rewards and discounts for a consistently good driving record
  • Parents should consider whether they want to carry student drivers on their insurance or find independent insurance for their young driver
  • Texting and driving and drunk driving are responsible for a large number of teen car accidents

Choosing the right car insurance is imperative at any age. But never is it more important than selecting a car insurance company for your young driver. You want to make sure that you have the right coverage so that you have peace of mind while your young driver is on the road.

Young people aged 18-25 (both girls and boys) have the highest accident rate of any other age group. Some factors influencing this high accident rate include:

  • Learning to drive and sometimes make mistakes
  • Show off among their peers while on social outings
  • Not having a sense of their mortality like adults

Start comparison shopping to make sure you have the best rates for your young driver by entering your zip code into our FREE comparison tool!

Statistics on Teen and New Drivers

AdobeStock_29031426-1600x1600There are some significant facts and statistics that you should know when shopping and comparing car insurance for young drivers. Teens present unique circumstances in driving situations that you do not see as much with adults.

  • Young people tend to have more people in the car with them, and the accident rate increases exponentially with every added passenger.
  • Sixteen-year-olds have more serious auto crashes than any other age. Young people at this age have just received their driver’s license and are far less experienced than other drivers. They may also be more careless at this age.
  • Texting while driving has become a big problem since the advent of cell phones and around 56 percent of teens admit to talking or texting while driving.

Increase your Liability Coverage on Young Drivers

If you notice the statistics above about young drivers, you will see that they usually have more people in the car with them than adults, which increases the level of liability.

When shopping for insurance for a young driver, you should probably consider increasing the maximum total liability coverage amounts for teens.

While state minimums may only require a certain amount of insurance per passenger and a certain amount for everyone involved in an accident, teen accidents tend to be worse and with more passengers in the car, your risk of liability issues goes up considerably.

For these reasons, teens are more at risk, so the insurance that is chosen for them needs to keep these things in mind. Insurance for this age group will also tend to be much higher than other age groups. It helps to shop and compare side-by-side when looking for insurance to cover young drivers.

Considerations for Your Teen Driver

AdobeStock_51711988-1600x1600– Fatalities

Some additional statistics on teen drivers indicates that teens account for 8 percent of all fatal crashes in the U.S. as of a 2012 poll. About 2 out of every three teen drivers killed in the same period were males.

Males are at a higher risk than females. No one knows exactly why this may be true but below are a few of the possible factors that lead to this statistic.

– Male v. Female

People have often wondered why males have more accidents than females of the same age. Insurance companies charge higher rates to the demographic groups that have more claims and cost insurance companies more money.

Males have more serious accidents and fatal collisions than females in the same age group, so their insurance is higher. Once males get out of the high accident group (age 18-25), their insurance rates will drop, provided they have kept their driving record clean.

One of the reasons males may have more accidents is that they usually drive on dates and social outings more than girls do. Also, males tend to want to show off to their peers more than girls.

Despite the higher rates for males, girls are starting to catch up due to the increased use of cell phones while driving. Parents should caution both girls and boys to avoid talking on the phone or texting while driving due to the high correlation between texting while driving and serious accidents.

– Drunk Driving

Another disturbing fact is the drinking and driving factor. MADD, the mothers’ organization of Mothers Against Drunk Driving, keeps a close eye on the statistics of young drivers and the incidents of DUI.

Drunk driving is a serious issue with young drivers and should be discussed with potential and new drivers. The conversation should be frank and discuss the consequences for them and the life and safety of others.

– Safe Driving

One staggering statistic that should make anyone sit up and take notice — 341,000 car crashes were the result of texting while driving in 2015. These crashes include all drivers ages 18-64 but teens use texting more often than adults.

One of the best things parents can do when helping their child find suitable car insurance is to use this time to discuss safe driving expectations with teens.

Though they often say they’ve heard it all before, something this important must be repeated. The more teens are aware of the dangers of driving, the less likely they’ll be to end up being in a serious accident.

The following tips may help young drivers to decrease their chances of a serious collision while they are in this high premium insurance bracket:

  • Always drive defensively and assume other drivers may not be paying attention and could be distracted from their driving.
  • Buckle up. Most people who are killed in serious accidents were not wearing a seatbelt.
  • Never text and drive. Distractibility from driving is one of the main reasons for serious car accidents. Texting and using a cell phone while driving falls under this category.
  • Never drink and drive or get into the car with anyone who has been drinking.
  • Be aware of your driving behavior when more people get in the car, to lessen your chances of distractibility and serious collisions.

How do you find the best insurance for young drivers?

When searching for the best insurance for young drivers, you will want to consider the following factors as you shop and compare companies and policies.

  • How much coverage is needed to cover a potential accident with multiple passengers?
  • Are the state minimums enough to cover the liability of my current policy?
  • How high of a risk is the young person I want to get insurance for? Have they had any moving traffic violations since they began driving? Do they have a good driving record?
  • Will my young driver qualify for good driving or good student discounts?
  • How much collision coverage should I get for my young driver?

The great thing about shopping online for an insurance plan is that you have customer service and support right there when you need it. You can shop and compare the policies and terms yourself and then ask someone when you come across a question that you can’t find the answers to.

Considerations When Comparing

AdobeStock_34769655-1600x1600The main things to look for when trying to locate the best insurance plan for your young driver are:

  • The amount of liability you think you will need for multiple passengers, taking state minimums into account
  • The amount of deductible you want to carry on the policy (should be based on the likelihood of collision) based on your teen’s driving record
  • The level of risk (check your young driver’s driving record)
  • How much he or she drives and weigh the chances of mishap based on frequency of driving

These factors should always be weighed against the cost of premiums and the type of policy you want to carry on your young driver. Remember that you may have the young driver on your insurance policy as an option until they get out of the high-risk category, but carrying them on your policy will raise your rates temporarily.

You should probably consider and compare which would be more economically feasible:

  • Carrying the student driver on your policy until they are 25
  • Or finding an independent insurance they can be on that will cover them.

There are benefits to both. If you carry them on your policy while they are learning, it removes the responsibility from the young driver if they cannot afford the payments. However, it doesn’t emphasize the importance of being accountable for one’s driving like it would if they had their policy.

Some parents prefer to have students on their policy to enforce the importance of being a responsible and careful driver while reminding them of this each month when they pay their bill.

Insurance companies like to offer good drivers in this high-risk age bracket discounts for not having traffic accidents or traffic violations during this time, and they like to reward students for good academic progress as well.

So check with your agent about whether your policy offers these incentives.

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