Finding the right deal on teenage driving insurance can save you quite a bit of money. You might be surprised at how big the differences can be when searching for teenage driving insurance quotes.
Teenage drivers are known to be a big risk for insurance companies – and it is for many different reasons. They lack experience, they are often in dangerous driving circumstances and recent research indicates that important mental functions, such as reasoning, self-control and judgment don’t mature until the late teenage years, much later than when teens first learn to drive.
Inexperience combined with lack of judgment helps explain why young drivers are a high risk to insure:
Car crashes are still the leading killer of people age 15 to 20.
Young drivers are three times as likely to die in a crash as those aged 25 to 64.
The younger the driver, the more accidents: The crash rate for 16-year-olds per million miles driven is nearly three times as high as for 19-year-olds, and nearly six times as high as drivers aged 20 to 24.
How much more does it cost to get teenage driving insurance? Don’t be surprised if you see your premiums spike 50-200% the minute you add a teenage driver to your policy.
For example, a couple living in California might pay an average of $2324 for car insurance before adding their teenage son to the policy. That same couple would see their premiums go to $4,562 — a 96% increase just by adding their son. If they have a ticket or accident – the tab could be much, much more.
What is the average cost for teenage driving insurance? Be sure to check with your current insurance company and also shop around for the best rates. You might be surprised to see how much you can save just by shopping.
Shopping for teenage driving insurance is free and it only takes minutes!
Adding Junior would boost the tab to $4,562, a 96% increase. A ticket or accident could boost the tab $1,000 or more — sometimes much more.
Still, there are ways to bring down the costs. I interviewed several insurance-industry executives for the inside scoop on how they saved money when their own kids got driver’s licenses. The insights they offer could help lessen the financial pain you’re about to experience.
Get Your Free Teenage Driving Insurance Quotes Now!
