Auto Insurance For Teens
Reader’s Question:
I am 17 years. old and have no driver’s license or permit yet. I am having hard time finding information concerning car insurance options that would be available to me, so that I can get my license. Can you please give me any suggestion regarding this?
Jim
Detroit, MI
Typically, if you are residing with your parents, they can request their insurance company to add you to their policy once you are permitted or obtain a junior or full license. Insurance carriers differ about if they will require you on the car insurance policy with only a permit or will wait till you are licensed.
If you live on your own, as a inexperienced and young teen driver without a full license or even permit, it can be hard to find car insurance. Probably, you can get an insurance policy but most insurance providers will want you to acquire a full license within 30 to 45 days from the inception of your policy. If you cannot obtain a regular license by that time, then the insurance policy will cancel.
Some insurance companies might require you to list a fully licensed motorist of 21 years of age or older on the policy with you.
Cheap Teen Car Insurance in Chicago – Adding New Driver
Reader’s Question:
How much does your auto insurance rate go up when adding on a new teenage motorist in Chicago ? Can I get a range.
Elizabeth
Chicago, Illinois (IL)
Since teenagers that are newly licensed have such high rates of accidents that is why they cost more to insure than an experienced motorist who is more prone to avoid an accident than cause it.
The costs of adding a teenager in Chicago IL will depend upon your your geographical location, your current car insurance rates and your teen to name a few. For example if you reside in a congested area where your teen is more likely to be involved in an accident compared to a more suburban or rural area the insurance rate to insure your teenager will likely be higher.
Basically if you add a young driver in Chicago IL, it may cost $1200 to even $2500 a year. A 16 year old, on the average, can expect to pay 2.52 times the base rate for their car insurance. So if you as a parent of a teenager now pay $500 for a year of auto insurance, then adding a 16 year old newly licensed teen driver onto your policy could raise your insurance rates to (again on average) $1260 for a year of auto insurance.
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