Automobile insurance for a teen driver isn’t cheap, that’s nothing new. But did you know that putting your young one on the family policy can double your monthly premium?
That’s the case according to a new study conducted by InsuranceQuotes.com. It suggests that an average married couple in the U.S. will pay 87 percent more after adding a teenage driver and that male drivers cause a much higher increase than females (96 percent compared to 72 percent).
“Savvy consumers don’t settle for average,” said Laura Adams, senior insurance analyst for InsuranceQuotes.com. “You’re not going to move to a new state just because car insurance is cheaper somewhere else, but there are some easy things that you can do to save money regardless of where you live.”
But in some cases, the difference from one state to another is considerable. For example, average premiums in Arkansas went up 116 percent while they only rose 18 percent in Hawaii.
Still, the difference isn’t enough to justify moving. Easier ways to reduce premiums include taking defensive driving courses, or even putting the teen in a car with anti-lock brakes.