Getting your teenager a car doesn't have to mean hiked insurance rates! That could amount to thousands of dollars in extra costs each year. Even responsible kids lack the skill and experience to avoid accidents.
When it comes to teen drivers and car insurance, things get confusing - and expensive - very quickly. It's even higher if the teen has his own policy. Now, that we've reviewing those sobering facts, let's guide you through your auto insurance buying.
Reckless driving, speeding tickets, more accidents on the road. These are a few of the reasons male, teen drivers, are typically going to pay a higher insurance premium than their female counterpart. It's not only teens.
Finding the cheapest car insurance for your teen driver is tremendously important. And the best way to find the cheapest coverage is to shop around and get quotes from multiple companies. To give you a sense of how much car insurance costs when you add a teen driver to your policy and how much prices vary, NerdWallet looked at car insurance rates in the 10 largest states in the U.
Insuring a teen driver can raise insurance premiums by 99 percent, according to news website CNBC. Insurance companies charge higher premiums to account for the higher risk of insuring more dangerous drivers. Teen drivers are considered more dangerous for good reason: The Insurance Institute for Highway Safety reports that year-olds get into six times as many accidents as drivers between 30 and 59 years of age.
No two words can fill parents with more unutterable dread than "teenage drivers. Why is it so expensive to insure teen drivers? Insurance companies calculate premiums based on the risk of an accident.
The time has come. Your teenager is reaching the getting-his-license milestone that all parents dread. Not only are you concerned for their safety on the road, but your attention is also now drawn to your insurance rate.
Ah, yes, making fun of teenage drivers and their abilities behind the wheel. As much as 80 percentaccording to InsuranceQuotes. Still, there are some ways to hold down insurance costs when you have a teenage driver in the family.