Teenage drivers pay some of the highest auto insurance rates imaginable. As your driving career moves into young adulthood, factors other than inexperience driving and good grades are used to determine your awards.
As a young driver, your driving record, experience, and credit score also affect the price you pay for your auto insurance policy.
If you are a new driver and have escaped your teens and early 20s with a clean driving record and good credit history, you can expect to see a significant drop in car insurance rates.
Teen drivers may not be as short as your parents’, but they will be inferior to teen drivers. If, on the other hand, your driving record shows multiple speeding fines or a DUI, you can expect to continue to see skyrocketing rates.
The same is true if your credit score is in the dumper. In most states, auto insurers may charge drivers with low credit ratings higher insurance premiums.
In short, being responsible behind the wheel – and with your credit – will reward you with cheaper auto insurance.
While paying car insurance is far from the fun part of driving, it’s a necessary part of getting behind the wheel.
It is also mandatory in almost all states and required by most financial companies if you have an auto loan.
Many factors play a role in defining insurance rates, so it is vital that you share your unique information with insurers so that you can find auto insurance rates that suit your specific circumstances and needs.
Who has the best rates for young adults?
USAA offers the best prices for young adults. On average, our study data for a young adult insured through USAA has a study rate of $ 1,060 per year to insure their vehicle.
While any individual’s rates may vary, USAA offers our young adult customer profile a representative premium that is approximately $ 146 less per year than the next least expensive insurer on our list.
USAA study rates for young men and women are on average about $ 460 lower than the representative average rate for our young adult driver profiles offered by the nine insurance companies in our study.
• USAA: $ 1,060
• Geico: $ 1,207
• State Farm: $ 1,329
• Travelers: $ 1,373
• Nationwide: $ 1,552
• Progressive: $ 1,620
• American family: $ 1,709
• Farmers: $ 1,881
• Allstate: $ 1,957
Types of car insurance in Kenya
• Third party insurance coverage.
• Civil liability insurance with fire and theft coverage.
• Comprehensive insurance.
• Commercial Vehicle Insurance (PSV).
This is the simplest auto insurance coverage a driver must have. As the name suggests, this insurance covers damage to third parties as a result of your reckless driving. It covers damage to a third party car, physical damage or property damage.
- Third party auto insurance with theft and fire coverage
This type of auto insurance is similar to the first one with the only difference being additional fire and theft coverage.
The insured vehicle here will be covered incase of fire or theft
The cost of the premium will be higher than with third party auto insurance.
- Comprehensive auto insurance
This type of insurance covers everything offered by the first two above plus additional full coverage of your car.
With this package, you are covered for damage to your vehicle or its parts, emergency medical bills, and third party coverage.
The wide range of coverage means you pay high premium costs.
This type of insurance is best for people who own expensive cars that are expensive to repair in case of damage.
- Commercial Motor Insurance (PSV)
This involves those operating PSVs. The insured will be covered by passenger liability such as legal actions brought by passengers as a result of physical, mental or financial damage.