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Posts Tagged ‘teen insurance’

Adding a Teen Will Nearly Double Parents’ Insurance Bill

But discounts are available.

by on Jun.15, 2015

Texting and driving is one reason teens are socked with hefty insurance premiums.

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.

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“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.

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Adding Teen to Your Insurance Means Average 79% Increase in Premiums

But there are ways to reduce the cost.

by on Jul.17, 2014

Teens have the highest rate of crashes, and distracted driving is just one of the reasons.

Studies show drivers under the age of 20 are three times more likely than the general population to get into a fatal accident, and that doesn’t include fender-benders and other, more routine crashes – all of which mean that parents who plan to put a teen onto their insurance policies need to be prepared for a big increase in premiums.

The insurance bill for the typical married couple will jump an average 79%, according to a new study by insuranceQuotes.com. And for those young motorists who have a poor driving record, premiums could well more than double. The good news, however, is that the average teen penalty dipped from 85% in 2013.

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The younger the driver, the more insurance rates will rise, and males will pay a stiffer penalty than females, reflecting their traditionally higher risk behind the wheel. Insurance rate increases also vary from state-to-state. The penalty is stiffest in New Hampshire, noted the insuranceQuotes report, at an average 111%. (more…)

20 Best Cars for a Teen Driver – if Insurance is Your Top Priority

The added cost of insurance can be a deal breaker.

by on Mar.29, 2012

From an insurance cost standpoint, this is the best choice for a teen: the 2008 Audi A3.

Anyone who works in the auto industry is bound to hear the same question – frequently – from parents: “What’s the best car to buy for my child?”

It’s not as easy to answer as it might seem.  Of course, it depends on the kid.  Given a choice, what they’d like to be seen in might not be the wisest option, of course.  A first-time drive probably shouldn’t be driving a Mustang GT or a BMW M3.  And while short-wheelbase SUVs, like the Jeep Wrangler, might seem a fun alternative, they can have rollover issues when inexperienced young drivers speed around a corner.

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Most parents prefer to hold down costs by putting the novice behind the wheel of a relatively recent used car, but the price of the vehicle itself shouldn’t be the only factor to consider.  Insurance can be a deal-breaker, though if you don’t check up front you could get a painful lesson after the fact.

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