In fact, the risk of car accidents is higher among young people aged 16 to 19 than among any other age group, according to the Centers for Disease Control and. Yes, a 17-year-old can almost always take out car insurance, but being a minor, a parent or guardian will normally be asked to co-sign the policy. Car insurance for new drivers will include a number of responsibilities that will ultimately determine the cost of coverage. While some insurers may agree to put a policy in a teen's name, most will require a parent or guardian to sign or co-sign the car insurance policy.
Technically, parents have no insurable interest in the vehicle, so the insurance company can refuse to add the teen's car to the parents' policy. The best thing to do is to contact insurance companies to learn their guidelines for allowing a minor to obtain their own car insurance policy. If you decide to buy a car for which you want to have physical damage coverage, it's best to call your agent before buying the car to talk about coverage and see what the cost would be so you don't be surprised. Therefore, in most states, a teen cannot independently buy or insure a car because minors cannot own property in most states or sign contracts, so parents would own that property until the child becomes an adult.
Since most insurance companies don't offer policies for children, the parent or guardian must sign the insurance documents (contract). A 17-year-old can get car insurance in most states, but as a minor, a parent or guardian must co-sign the policy. Parents can also benefit from discounts on car insurance that take into account factors such as driver education, discipline and the parent-adolescent driving contract. The best way to determine if your particular state has any regulations regarding the minimum age for buying an auto insurance policy is to contact your state's insurance regulator.
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 you can title a car in the name of a minor, a license plate cannot be issued without proof of the vehicle's liability insurance. These factors are weighed differently depending on the individual insurer's underwriting methodology and North Carolina's auto insurance regulations. Teenage drivers already pay more for car insurance than more experienced drivers, and if you don't follow the traffic rules, your costs will be even higher.
