Price Hike For Adding a Teen Driver To Insurance? 79%
NEW YORK (TheStreet) -- Adding a teenager to your auto insurance can raise your bills by 79%.
That number comes from InsuranceQuotes.com, which says car insurance costs that much more after a typical married couple adds a teen driver to their policy.
Teenage boys are much more expensive to insure than teenage girls, InsuranceQuotes.com says in a report. Boys add 92% to your premiums, and girls add 67%. The good news is that the premium increases decline each year, from 96% for 16-year-olds to 58% for 19-year-olds.
Living in some states can really dent your wallet with a teen driver. The study notes that premiums double in seven states: New Hampshire (plus 111%), Rhode Island (plus 107%), Maine (plus 107%), Wyoming (plus 106%), Connecticut (plus 102%), Illinois (plus 101%) and Oregon (plus 101%).Also see: 3 Credit Cards Good for Your College Freshman here. If you’re saddled with higher rates due to a teenage driver, there are a few steps you can take to ease the damage. "A great strategy for lowering car insurance costs is to sign up for pay-as-you-drive car insurance," said Laura Adams, a senior analyst at InsuranceQuotes.com. "These programs allow companies to track your driving habits and can lead to significant discounts, especially if you're a safe driver who doesn't rack up too many miles. Teens who excel in the classroom should also take advantage of good student discounts." Also see: 3 Self-Protection Tips for Sandwich Generation Members Feeling Squeezed here. Some states offer safe-driving classes that also can help curb the costs of auto insurance for a son or daughter. Check with your state’s insurance office for details. Check this website for the office contact information for your state.
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