Affordable Family Auto Insurance
Erie and Farm Bureau offers the most affordable auto insurance for families with children who drive.
If your child gets a license, the best way to save money is to add your child to insurance, which is still expensive. Adding a teenage driver to your family’s auto insurance policy can more than double your rates. Having a second teenage driver in your home can increase your rates by 31%.
Sometimes companies limit their policy to 4 people.
In this case, if there are four or more drivers in your family, ask your agent and they will usually issue a second policy that applies to all drivers in your family. In almost all cases, family car insurance will save you money compared to individual insurance.
Affordable Family Auto Insurance Company
Erie and Farm Bureau offer the most affordable family auto insurance at an average of $241 and $246 per month respectively.
Allstate has the highest ratio, nearly four times that of Erie.
Couple, 1 Child
Couple, 2 Children
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How much does car insurance increase when you add a teenage driver? Adding a 17-year-old driver to a
family auto insurance policy increases premiums by 127%. Adding a second and third teenage driver to family insurance isn’t expensive, with a 31% increase and an 8% increase respectively.
Adding one or more youth drivers can add over $264 per month depending on the number of youth drivers insured.
Married couple$207—1 child$471127%2 children$615197%3 children$664220%3 children, 3 cars$1,027395% Car insurance plans for large families with extra cars
Adding a third car to your policy with multiple teen drivers can result in considerably more expensive coverage. A family with three children under 18 will pay 55% more, an average of $4,353 extra per year, if they upgrade from two cars to three.
This extra cost may be worth it, as a third vehicle will allow you more flexibility, especially if one child is able to drive the others. The cost difference between companies can be more than $20,000 per year, so it’s important to look at all available options.
Travelers$323Erie$454Farm Bureau$520USAA$557Geico$671Grange$789Nationwide$806Progressive$931State Farm$1,221Allstate$2,091 Auto insurance rate by family status
If you are married or widowed, you could pay around 7% less than a single person for car insurance.
Your individual family situation, such as being divorced, single or a widower, can impact the rates you pay, though not all companies factor this into the price you pay.
Married$140Widowed$140Divorced$150Single$150 Discounts for family car insurance
Families with children and multiple cars have access to a range of discounts that single-driver, single-vehicle households do not. You should look into your options or ask your agent about ways to offset the higher rates you’ll likely pay.
Multicar discount: If you have multiple vehicles on the same policy, you’ll likely get a break on the price.
Good grades discount: Insurers often reduce rates if you can show a child on your policy is maintaining at least a 3.
0 average score.
School Discount: If one of your children attends college or boarding school, you may be able to get a discount on your fare because you don’t drive often.
Safety Course Discount: Insurance companies often lower rates if a young driver takes a safe driving course or safe driving course.
Good Driver Discount: Fares will be reduced as long as you and your teen driver avoid crashes and speeding tickets.
Frequently Asked Questions Is
Family Car Insurance Affordable?
Yes, getting family car insurance is cheaper than individual insurance in most cases. Teens who have their own insurance tend to pay significantly more than if they were living under their parents’ insurance.
What is the Family Car Policy?
Family auto insurance is not a specific type of insurance, but rather a single policy covering multiple family members. Family car insurance is almost always cheaper than buying individual insurance.
Is it a good idea to buy insurance for your parents’ car?
In most cases, it is a good idea for children to have their parent’s car insurance. This significantly more than doubles the rates for parental insurance, but is still less expensive than individual insurance.
Need family auto insurance?
Family car insurance is not required if all family drivers who use a family car have some type of car insurance.
They don’t have to be the same, but usually the family policy is the cheapest option.
Do I need to live with my parents to get family car insurance?
To purchase family car insurance, you must live with your parents or at least list your parents’ home as your permanent address. This means that you can still use their policies when you are out of school, but you will need your own policy if you have a house or apartment.
Averages were collected for hundreds of zip codes in Texas, Pennsylvania, and Ohio.
All prices are for full coverage policy.
Personal Injury Liability $50,000 per person / $100,000 per accident Property Damage Liability $25,000 per accident Including full insurance and collision deductible $500
pricing is for couples and families with 2 adults 50 years old and 2-3 2015 Honda Civics. Teen drivers participating in this policy are 17 or 18 years old.
Rates shown for individual drivers are valid for 30 year old drivers using their own policies.
Quadrant Information Services was used to collect premium data.
The tariff is taken from the documents of the insurance company. Your own estimates may vary and should only be used for comparison purposes.