Travelers, Geico and USAA are the cheapest national car insurance providers for 16-year-old drivers.
Erie Insurance has the cheapest car insurance for 17-year-olds at a national average rate estimate of $120 per month for minimum coverage.
USAA has the cheapest car insurance for 21-year-olds, but only for eligible members. Country Financial has the cheapest rates available to all 21-year-olds at $79 per month.
The best car insurance companies for 20 year olds are Travelers, State Farm, Erie Insurance, USAA, and Nationwide. Learn how to save with our guide.
The cheapest car insurance for 50-year-olds can be found at USAA, with an average of $85 per month or $125 per year for a full-coverage car insurance policy.
Learn where to find cheap car insurance for a 16-year-old driver before adding them to your car insurance policy.
Car insurance premiums have risen more than 20% in the 12 months ending February 2024, according to the Consumer Price Index released on March 12, 2024. The reasons for the spike range from lingering inflation and the rising cost of repairs to an increase in auto theft and severe weather. Of course, not everyone pays the same amount for auto insurance. Carriers look at many factors to determine how much your premiums will be — only some of which are under your control. Here, CNBC Select lifts the hood on what affects the price you pay for car ...
Central Insurance is the best and most affordable car insurance company for teens with its lowest average rates starting at $92 per month. ; Rates for teens on average are around $2,706 per year for minimum coverage and $5,192 per year for full coverage. ; Due to their lack of driving experience, teenagers are at the highest risk of accidents in the United States, earning them the highest car insurance rates.
State · Age · Gender · Company and coverage amount · Driving history · Vehicle type · Usage
Price is an important characteristic in this case because of the high average rates for teen drivers, but we also looked at other factors, such as coverage options, available discounts and third-party rankings for customer service and financial strength. ...