GITNUX MARKETDATA REPORT 2024
Statistics About The Average Insurance Cost For 16 Year Old
The average insurance cost for a 16-year-old is significantly higher than for older age groups due to their lack of driving experience and higher risk of accidents.
In this post on https://gitnux.org/average-insurance-cost-for-16-year-old/, we explore the varied statistics surrounding car insurance costs for 16-year-old drivers. From the average monthly premiums in different states to the impact of age and academic performance on insurance rates, these figures offer valuable insights into the financial considerations for young drivers and their families.
Statistic 1
"On average, 16-year-old drivers pay $344.78 per month in insurance."
Statistic 2
"Car insurance for a 16-year-old driver can cost on average between $2,593 and $6,777 a year when added to their parent's policy."
Statistic 3
"The average monthly car insurance for a 16-year-old in Michigan is $594."
Statistic 4
"A 16-year-old driver in Ohio can expect to pay around $4,439 annually on car insurance."
Statistic 5
"On average, the cost of car insurance drops by 20% when a 16-year-old driver turns 19."
Statistic 6
"The average car insurance premium for a 16-year-old in Louisiana is $9,327 annually."
Statistic 7
"16-year-olds are 3.75 times more likely to be involved in a car accident, increasing insurance costs."
Statistic 8
"Up to 15% discount can be available for 16-year-olds who qualify as "good students" in their car insurance policy."
Statistic 9
"The average insurance rate for a 16-year old in Maine is $4,594 annually."
Statistic 10
"A 16-year-old in Hawaii can expect to pay an average of $4,387 annually for car insurance."
Statistic 11
"In Wyoming, the average car insurance rate for a 16-year old is approximately $5,858 annually."
Statistic 12
"Costs decrease to an average of $552 monthly when 16-year-olds are added to their parents' insurance policy."
Statistic 13
"A 16-year-old in Arizona can expect to pay an average of $6,067 annually for car insurance."
Statistic 14
"A 16-year-old in North Carolina might pay on average of $7,890 per year for auto insurance."
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Jannik Lindner
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