How Much Car Insurance Do I Need? Kelley Blue Book

Car insurance helps lessen the impact of such a financial loss on you and anyone else involved in an accident. Your license has been suspended but you want to maintain continuous coverage. Basic information like the name and date of birth for every driver on the policy. Our ratings take into account a product’s cost, features, ease of use, customer service and other category-specific attributes. While the rates shown are a helpful starting point, they’re no substitute for personalized quotes. Answer a few questions to start your quotes in 3 minutes or less.

FAQ About the Cheapest Car Insurance for First-Time Drivers

James Shaffer is a writer for and a well-seasoned auto insurance industry veteran. He has a deep knowledge of insurance rules and regulations and is passionate about helping drivers save money on auto insurance. He is responsible for researching and writing about anything auto insurance-related. He holds a bachelor’s degree from Bentley University and his work has been quoted by NBC News, CNN, and The Washington Post.

Cheapest Car Insurance for First-Time Drivers Over 60 by State

If you don’t want to pay in full, you can typically choose monthly installments. You might be able to get a small discount for using automatic withdrawals. If your car breaks down or gets a flat on the side of the road, roadside assistance insurance pays for services such as a tow truck, jump-start or locksmith. This coverage provides roadside assistance if your vehicle is disabled on the side of the road, including help with flat tires, a dead battery, or an empty gas tank. Pet Insurance, Motorcycle Insurance, and Travel Insurance is not underwritten by Travelers or its Affiliates (“Travelers”).

Gap Insurance May Not Make Sense If…

Most states require you to have minimum amounts of liability insurance coverage; some also require you to have other coverage types, such as uninsured motorist coverage. Auto insurance companies all calculate their rates differently, resulting in a wide range of prices—sometimes by thousands of dollars a year. It’s smart to compare car insurance quotes from multiple companies.

These programs tailor your premium based on how much you actually drive. For drivers over 60, Nationwide emerges as the go-to option for affordable car insurance, offering the cheapest rates in 14 states, including Alabama, Arkansas and Colorado. Auto-Owners follows closely, leading in affordability in five states, such as Idaho and Illinois. With a clean driving record, first-time drivers can expect their insurance rates to drop over time.

For example, if your car is currently worth $10,000 and you owe $12,000 on the loan, you might be willing to absorb the difference if your car is totaled. But if you have a $30,000 car loan on a $22,000 car, you might not be able to afford to pay the $8,000 gap. Whether you need gap insurance depends on how much you have left on your car loan or lease and what the vehicle is worth.

Different insurance companies have different ways of assessing risk. Some may offer special packages or discounts for first-time drivers. Overall, MoneyGeek analyzed 2,474,515 quotes from 607 companies across 3,523 zip codes to determine the cheapest car insurance premiums for drivers of various profiles and needs. State Farm offers the cheapest coverage for 16-year-olds at $2,300 yearly. Nationwide is the go-to for affordable rates for first-time drivers over 25, 40 and 60, with annual costs of $2,440, $2,055 and $1,919, respectively.

Read more about All risk car insurance here.