New York teens who drive with a learner's permit with a licensed adult in the car don't need to have their own car insurance. Some insurance companies also offer discounts to 17-year-olds who complete an approved course in driver education or safety. However, if the car being driven is leased or financed, the lender will require you to have full coverage, including comprehensive and collision insurance. Comparing car insurance rates allows you to see which companies offer the best coverage and prices for you.
Next, you'll see the average insurance costs in each state for a 17-year-old woman and see how they compare to the price of a policy for parents with the added child. The final result was an overall rating for each provider, with the insurers that scored the most points at the top of the list. From the point of view of an insurance company, the high risk posed by a 17-year-old person is usually offset by the parents' advanced age. In most cases, 17-year-olds receive a lower price when added to their parents' car insurance than if they do it alone.
This is the most affordable option to insure these drivers, but it can still lead to a substantial increase in the premium. Carole Walker, executive director of the Rocky Mountain Insurance Information Association, says that car insurance companies charge 17-year-olds more because teenagers pose a greater risk to insurers than more experienced drivers. In most states, you must be at least 18 years old to enter into a contract, such as car insurance, unless you are emancipated or have a parent or guardian as a co-signer. For 17-year-old male drivers with their own policies, Island, North Carolina Farm Bureau, Erie Insurance, USAA and Mapfre are among the national companies with the cheapest car insurance rates.
If your insurer says that your policy already extends to temporary drivers, you're unlikely to see insurance rates go up. While all that's required is minimal liability, it's worth considering buying an auto insurance policy with full coverage to stay protected on the road.