![]() ![]() USAA is the cheapest car insurance company for adding a 20-year-old driver to a parent’s policy, according to our analysis. What Is the Cheapest Car Insurance for 20-Year-Old Drivers? In comparison, the rate is 17.5 for those aged 25 to 29. Department of Transportation finds that young adults aged 20 to 24 have the highest rate of car crash fatalities among all ages-with 19.2 per 100,000 people. That’s because 20-year-olds are still more likely to be in fatal car accidents than drivers age 25 and older. That’s a sizable amount, but shopping for the best car insurance prices can help you identify the most affordable coverage for your family.Ī 20-year-old driver generally pays less for auto insurance than they did as a teen, but rates won’t drop into the more affordable range for a few more years. The overall average cost of a parent’s car insurance policy with a 20-year-old included is $4,458 a year. That’s $375 a month, three times the monthly amount parents would pay to add the young adult to their policy. A 20-year-old buying their own policy will pay an average of $4,499 a year. That comes to $125 a month extra parents will shell out for adding a 20-year-old to their auto insurance policy.Īdding a young driver to a parent’s policy hikes the parent’s car insurance costs, but it’s still much less than what the young adult will pay for their own policy. It costs an average of $1,496 a year to add a 20-year-old to a parent’s car insurance policy, according to Forbes Advisor’s analysis. How Much Is Car Insurance for a 20-Year-Old? ![]()
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