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What Is The Average Cost of Car Insurance For Teen Drivers?
Any parent with a 14 and 15-year-old son or daughter wants to know what is the average cost of car insurance for teen drivers. You would like to know how much money you have to set aside each month to pay for your soon-to-be 16-year-old teen driver. This is a very good car insurance question to know the answer to or at least have some idea of what you can expect to pay in insurance premiums for the next few years.
Young teen drivers pose a huge risk to an insurance company. They get in more accidents and cause more fatalities than any other group of drivers on the road except maybe for senior citizens.
Because of this you can expect to pay a high premium when you add them to your policy.
Even if they are straight A student and do not drive aggressively, you can still expect your insurance premiums to double or triple in some cases just because you add them to your policy. So for example if you are normally paying $600 every six months for you and your spouse and your two cars, you can easily see your premiums jumping to $1200, $1500, or even $1800 for six months.
Car insurance rates vary from state to state so there is no "average" monthly premium for a young teen driver. You may live in a state that has lower overall premiums when compared to another state. It all depends on the risk in that part of town you live in.
You may still be able to save money by shopping around for car insurance and getting multiple quotes from several different companies because car insurance is a very competitive business and they may give you a lower discount on your new 16-year-old teen driver.
So what is the average cost of car insurance for teen drivers? Expensive. Expect your rates to double or triple on average when you add a 16-year-old driver to your policy.