car insurance for 17 year olds male
- this is a free by phone service that provides multiple company insurance rates specific to your location, see how companies compete for your business humanainsurance. Offers great rates. Would you say that this is odd or is there nothing morally wrong?. Featured Posts Worst Drivers By State Most Expensive Car Crash in History? 8 Ferraris, 3 Mercedes, and 1 Lamborghini Part of $4 Million Crash! Top 25 Best Car Pranks Pledging to Stop Road Rage The Worst States for Texting While Driving The Coming Robot Invasion: Google’s Self-Driving Cars Will Destroy Car Insurance Companies car insurance for 17 year olds male. post your REG number so i can do some checks and see what it'd cost for me. As Alice and Rick Sofield of Alexandria, Va.
The Sofields’ 16-year-old daughter, Charlotte, earned her driver’s license last March. Since then, she has been in two car accidents. The first was in May, when she pulled out of a 7-Eleven parking lot and sideswiped a small car. The result: some $2,500 damage, which insurance paid for, and dents and scratches on her mother’s Chevrolet Suburban. The second accident was in mid-September, when Charlotte was driving a gift, her late grandfather’s 1998 Subaru Forrester.
Passing a driver’s exam is a rite of passage for many teenagers, but it can be a sizable expense for parents. Driver education courses, higher insurance premiums, increased fuel costs, the occasional fender-bender and locksmith visits can really add up, especially if children aren’t sharing the costs. In one year, Mark Faust, a management consultant in Cincinnati, Ohio, saw insurance rates for his four cars go from $5,000 to $10,000 a year after adding his 18-year-old son and 17-year-old daughter to his policies. "The majority of the increase was because of my boy," says Faust, whose rates will remain high for a while as he has three more daughters, ages 15, 13 and 12. According to InsuranceQuotes.
(Premiums rise 99 percent if you have a 16-year-old and 65 percent at age 19.) It is also a lot pricier to insure a teen male than a female - typically a 96 percent premium increase for a boy and 72 percent for a girl. Arkansas is the most expensive state to add a teen driver - expect your rates there to jump by 116 percent. Hawaii has the smallest premium increases for teen drivers with only an 18 percent rise. That’s because insurance companies aren’t allowed to factor in a driver’s age when they calculate insurance coverage in that state.
While plenty do still get theirs at the earliest chance, the majority do not, according to numerous surveys. Forty-four percent of teenagers get a license within 12 months of the minimum age for licensing in their state, and only 54 percent of teens were licensed before their 18th birthday, according to an August study by the AAA Foundation for Traffic Safety. Thirty-six percent of those surveyed said that either gas or driving in general was too expensive. Low-income and minority teens are most likely to delay a license, the study also found. There are ways to bring down insurance rates, however.
You’ll need to have your school send a letter proving the grades or send your insurer or agent a report card. Just remember to do it every year before renewal. Some insurers will also lower rates by 10 percent to 15 percent, in addition to the good-grades discount, if students go through the insurer’s approved driver education course. Putting a teen behind the wheel of an inexpensive car can also help cut costs.
Peter Keenan, a financial executive in Evanston, Ill., made himself the official owner of a 1995 Jeep he bought for his son - a car that cost just $1,500 and "had over a billion miles on it" - and cut the monthly premium in half, to $60. Driver education classes generally aren’t free, even when public schools offer them, with prices ranging from $150 to $800 for classroom and driving time. You’ll also want to talk to your teen about driving safely. If you sense they feel invincible to injury, maybe they’ll pay attention when you tell them about the costs of being pulled over by a cop. Michelle C.
Derrico, a criminal defense attorney in Roanoke, Va., says her firm frequently gets phone calls from parents whose teenagers have been cited for traffic infractions like speeding - which will likely nullify any insurance discounts your teen gets. "From a financial standpoint, the parents are on the hook whether they just pay the fine or whether they contest the ticket," Derrico says. Contesting a teen’s ticket isn’t cheap, though. Paying lawyer fees, court costs and enrollment in a driver improvement program could run to more than $500, Derrico says.