It’s normal for parents to start worrying when their teens get old enough to drive – but wondering whether they’ll be safe is only one of the reasons. Adding a teen to the family car insurance policy is another reason to start fretting, as it could nearly double what parents already are paying, according to a new study.
On average, premiums will rise about 80%, according to a new study by insuranceQuotes.com. But the increase is likely to run an average 92% for a teenage male. The increases vary widely, depending upon state, averaging as little as 17% in Hawaii, and as much as 115% in New Hampshire, the study revealed.
“It’s really expensive to insure a teen driver, said Laura Adams, the website’s senior analyst. The good news, she added, is that there are ways to get discounts if, for example, your teen is a good student.
The penalty for teen drivers should come as no surprise, experts say, considering young drivers tend to also be the riskiest group on the road.