Insurance for 16 Year Olds

I am 16 year old boy and I want to apply for Car insurance so can I eligible for this?

[Shaleen]

You cannot legally sign contracts, including car insurance agreements at age of 16.

You typically get insurance coverage by being added to your parents’ existing auto insurance policy.

Until you are 18 years old, you cannot buy your own insurance.

The cost of adding a driver to an existing family car insurance policy is always cheaper than taking out a separate policy.

Adding a 16 year old male teenager to a family’s car insurance could easily double the cost.

State laws require a minimum level of insurance coverage. in most states, a car cannot be registered without proof of insurance or financial responsibility.

Each state sets its own minimum auto insurance requirements.

However, cost of automobiles has increased, accident repair costs have zoomed, medical costs have skyrocketed, and personal injury lawsuit settlement amounts have exploded.

Some states’ requirements, such as those in Pennsylvania, are a low 15/30/5.

This means if you caused an accident and totaled someone’s car, your insurance only pays $5000 to the other party.

If the other party was driving a brand new $60,000 Lexus, you would be about $55,000 short when that party sued you to replace their car.