Auto insurance policies can be expensive. However, they are required if you want to drive (legally, at least).
The cost of auto insurance varies based on a variety of factors. For instance, your state of residence impacts your auto insurance cost.
Your age also has a significant impact on the cost of your auto insurance. For example, being a young driver will usually mean that your car insurance premiums will be higher compared to adults, especially when it comes to middle-aged adults.
In this article, we’ll specifically look at the cost of insurance for 19-year-olds.
So, how much is car insurance for a 19-year-old? Read on to find out!
How Much Is Car Insurance For A 19-Year-Old?
The costs of car insurance policies vary a lot. It depends on various factors, including the insurance company, your gender, your age, where you live, and more.
For this article, we will focus on the age factor. Specifically, getting car insurance for a 19-year-old. The average premium of a car insurance policy for 19-year-olds ranges anywhere between $3,319 to $6,182 per year.
Full Versus Minimum Coverage
The average premium of a full coverage car insurance policy for a 19-year-old is $515 per month. However, the state minimum policy of a car insurance premium is $116.
Car insurance policy premiums are more expensive to people of younger age because of the risks. Car insurance companies find younger drivers to be riskier on the road as they usually lack experience in driving compared to older drivers.
Gender
But other factors could also affect the premiums of your car insurance policy. The first one is gender.
Most of the time, the premiums of 19 years old female drivers are significantly lower compared to male drivers of the same age. While the average monthly premium of 19-year-old males is $378, their female counterparts pay only $317.
If we are talking about annual premiums, the average for 19-year-old females is $3,807. Males of the same age pay for a significantly larger amount of $4,487.
Another factor that affects the cost of your car insurance premiums is the state where you live.
Car Insurance Company
One more thing that determines the cost of your premiums is the car insurance company.
State Farm offers the least expensive full coverage car insurance, which is $2,462. Meanwhile, the car insurance company, Allstate, offers the most expensive, which costs $10,250.
So, in conclusion, car insurance rates for 19 years olds are more expensive than those of the average 30 years old. And that is due to car insurance companies seeing them as risky and inexperienced drivers.