Find affordable, high-quality auto insurance coverage for your family's car.
Car insurance modeled to fit you and your vehicle. Auto insurance for a family can be dynamic — and potentially expensive — so it's important to stay in the loop on the best ways to save. Whether you're getting married, buying a house, or adding teen drivers to your policy, every step on your family's path can have auto insurance rate ramifications.
Let's assess the best ways to find affordable auto insurance for your family.
Marriage is a major milestone, both personally and for car insurance. Married couples sharing an auto insurance policy are considered stable insurance customers and are rewarded with lower premiums. Controlling for other pricing variables, married drivers save 6% on car insurance.
Marital Status | Average Monthly Car Insurance Rate |
Single | $124 |
Married | $116 |
Divorced | $124 |
Widowed | $120 |
If you and your spouse are homeowners, you can expect to save an extra 2% on your auto insurance policy. Homeowners are seen as less likely to file a claim than renters — and when they do file claims, the payouts tend to be less costly.
If you bundle your home and auto policies with the same insurance company, you can look forward to approximately 10% in savings.
Homeownership Status | Average Monthly Car Insurance Rate |
Renter | $124 |
Condo Owner | $121 |
Homeowner | $121 |
Renter w/ Multi-Policy Discount | $117 |
Condo Owner w/ Multi-Policy Discount | $111 |
Homeowner w/ Multi-Policy Discount | $109 |
Married homeowners enjoy some impressive car insurance savings. But once the children hit driving age, insurance costs tend to rise.
Learn more about auto insurance for married drivers.
Insurance for teen drivers is very expensive. We pulled rates from five popular insurance companies to determine which company is the cheapest for a family with a teen driver. Based on our most recent study, Nationwide was the cheapest company for a family insuring a teen driver (methodology).
Car Insurance Provider (alphabetical order) | Average Monthly Rate |
$647 | |
$510 | |
$329 | |
$285 | |
$524 | |
$298 | |
$374 |
Adding a teen driver to your insurance policy can increase your premium by nearly $4,000 per year. If you have multiple driving-aged children, you can expect the increase to be even greater. So, what comes next? Begin your search for auto insurance with GEICO, Nationwide and State Farm before searching elsewhere.
Learn more about auto insurance rates for teen drivers:
This discount is straightforward. Insurance companies view students with a GPA of 3.0 or better as safer drivers, rewarding them with lower premiums. Most insurance companies require an up-to-date transcript every policy period as proof. Discount amounts vary by company.
Taking a safe driving course — approved by your insurance company — can earn you a discount. Regardless of whether your insurance company provides a defensive driving discount, it’s probably a good idea for a teen driver. The discount amount will vary by company.
This discount is automatically added to your policy if you have a claim-free history. Help your teen keep a clean driving record — no citations, tickets, or at-fault accidents — in order to receive this discount. The discount amount often varies by company.
Don’t let your 16-year-old drive your brand new truck. Teens are historically bad drivers so it’s in your best interest to have them drive a less expensive vehicle such as a used sedan, rather than a car that will fetch a higher insurance premium. Learn more about auto insurance for teens.
No, car insurance rates do not go down after a driver has a child. New parents seeking savings should look into auto insurance discounts and be sure to compare car insurance rates.
Auto insurance companies do typically price policies more favorably for homeowners and condo owners than for renters. If you've recently purchased a home, it could be worth comparing auto insurance quotesto find a new policy. Better yet, explore bundling your home and auto insurance policies.
