Unless there is a state law that imposes a minimum age, there is usually no minimum age for obtaining auto insurance coverage. Insurance costs for a Honda or Toyota are usually lower than those of high-performance cars, such as the Infiniti G35, Camaro or Mustang. While teens can get their own policies, car insurance just for a teen costs much more than if added to an existing policy. If the cost of car insurance for a 16-year-old person is still too high, you might consider adding them to an existing policy.
Yes, an emancipated minor can purchase their own insurance policy, but they may have to work directly with an insurance expert to obtain a policy (instead of shopping online as most drivers would). If your 18-year-old son owns his own car and doesn't live in your home, he must have his own car insurance policy. Unless they're emancipated, teens generally can't buy their own car insurance policy until they're 18 or 19 years old. The final insurance policy premium for any policy is determined by the insurance company upon application.
People under 18 are (generally) not legally allowed to enter into a contractual agreement, but an emancipated minor is allowed to do things like buy a car or sign an insurance policy. In some situations, letting a teen buy their own insurance seems like the best option, but teens ages 16 and 17 aren't normally allowed to buy their own car insurance policy, and standalone car insurance policies for teens are often much, much more expensive than adding a teen to an existing car insurance policy. The most affordable way to get car insurance for a teen is to add the teen to a more experienced driver's policy, such as that of a parent or guardian. The cheapest car insurance companies for teens are Travelers, USAA and Progressive, according to the WalletHub analysis.
If you're looking for a policy and want to start your search, you can start by consulting WalletHub's guides on the best car insurance for teens and the cheapest car insurance for teens. Adding a teen to an existing car insurance policy can be significantly cheaper than having a teen get their own policy. However, if they live in your house and drive your car, they must remain on your family car insurance policy. The age of majority isn't necessarily the same as the age requirement for obtaining a driver's license, so teen drivers can get their license years before they can purchase their own car insurance policy.
Some people really want their children to pay for their own insurance to teach them responsibility and encourage them to drive safely, while others don't want to burden their children with the high cost of car insurance for a teen driver.