A teenager getting their license and driving for the first time is exciting, and for many families, a rite of passage. However, teenage drivers are the demographic with the highest risk for an accident, and therefore are the most expensive kind of driver to insure. In fact, adding a teenager to your insurance policy can end up potentially doubling your monthly insurance premiums.
Every family is different, however, and each insurance premium can vary. Today we're talking about what parents can expect when applying for teen driver insurance and how to find insurance discounts for teenage drivers.d
Many people wonder how much it costs to add a teenager to their car insurance policy. The short answer is, it depends. Teenage boys are more expensive to add, generally, than teenage girls. In fact, according to the US Centers For Disease Control, male teens had a rate of death twice as high as female teens in auto accidents. Families can expect their insurance premiums to increase by 130% when adding a teen driver to their coverage, even if they aren't planning to add another car for the teen.
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Many insurance carriers offer several discounts for teens, so check with yours to see if your teen driver qualifies for any of these: