You may find cheaper insurance for vehicles you already own by taking advantage of discounts and telematics programs. Another option is to review your policy and ensure you still need every coverage type you have. If you have more than one car or access to another vehicle, you may not need to pay for rental reimbursement coverage. Additionally, depending on your state, maintaining a clean driving record and improving your credit score may also bring down your premium over time. The table below demonstrates the average cost of car insurance for various age groups.

When to Add a First-Time Driver to Your Policy

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You might be eligible for pay-in-full deals, safety vehicle feature discounts and affinity discounts through associations or employers. As you gain more driving experience and maintain a clean record, you’ll likely become eligible for additional savings like safe driver discounts, claim-free discounts and loyalty discounts. Drivers under 25 usually face higher insurance premiums, while first-time drivers who are 25 or older will likely pay more than their experienced counterparts but less than younger drivers. Being young and newly licensed places you in high-risk categories for insurance companies, leading to higher premiums.

The Journey Starts Here With a Car Insurance Quote

Adding a young driver could drastically increase your overall auto insurance premium. Many auto insurers offer discounts for young drivers who earn good grades in high school or college. Gender also impacts your premium in most states — women tend to pay lower premiums than men.

Cost of Gap Insurance by Company

First, you owe it to yourself to periodically comparison-shop policies from several companies. As we’ve seen, insurance costs can vary among companies by hundreds of dollars.

If you currently have auto insurance, insurers usually give a grace period of between seven to 30 days to update your policy with the details of the new vehicle. If you get into an accident during this grace period, your new car will have the same coverage as your previous vehicle. This applies to car buyers who are buying a new car and getting rid of their current vehicle. If you are adding another vehicle to your household, call your insurer first to add the additional car to your policy.

Best Car Insurance Companies Of November 2023