How much is car insurance for a 16 year old?
The average 16-year-old driver in 2020 paid an annual premium of $5,744 (or $479 per month) for insurance, compared to the national average of $1,483 across all ages. Nearly every factor within car insurance premiums comes down to one simple question: what's the risk?
What is the best insurance for young drivers?
Best insurance for young drivers. Everyone must have insurance, by law, and the minimum level of insurance you can have is third party car insurance, followed by third party fire and theft (TPFT), which offers you more protection for your vehicle.
What is the average cost of car insurance?
What's the Average Cost of Car Insurance in the US? $1,502 annually and $751 per six months-that was the average price in the United States as of December 2019 -up from $1,469 annually and $735 per six months during March of the same year. Based on this trend, one could expect that the car insurance rate is set to increase further in 2020.
What is auto insurance?
Auto insurance provides coverage for:Property – such as damage to or theft of your carLiability – your legal responsibility to others for bodily injury or property damageMedical – the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses