Male teens may be the most expensive group for getting car insurance coverage. This group represents the biggest risk for insurance companies, so they charge more to cover them. A male boy is more likely to be involved in both fatal and non-fatal accidents. Whether you live on the Missouri or Kansas side of Kansas City, you will find much higher insurance costs for male teens. One study nationwide said the prices to cover a person in this group can range between $1,000 and $20,000.
Once boys turn 20, they tend to be less of a risk and the price of insurance goes down. It continues to go down for several years. In the meantime, there are things a teen can do to be insured in a cost efficient way. One thing to do is get the teen insured on the family policy and that will keep drivers costs down in the process. It still will not be cheap, but for a male teen to be covered on an individual policy is much more expensive.
Here are some more suggestions on lowering insurance costs for teens.
- Take a professional, or defensive driving, class. Many insurance companies offer a discount for this.
- Getting good grades will put you in a lower risk group that will reduce costs.
- Some insurance companies offer a discounts for students who sign an agreement, saying they will not drink, eat or text while driving, and that they will maintain good grades and habits.
- Don't take the car to college. Rates are lower for students who do not take their car to school. They can still be covered when they come home on break.
Insurance is going to cost more for a male teen, and there's no way around that reality. However, there are some things you can do to lower overall insurance premiums.