How much your annual policy premium increases when you add ateen driver depends a lot on where you live -- and in some states,it can even double.

InsuranceQuotes.com commissionedastudy by Quadrant Information Services to examine the economicimpact of adding a driver between the ages of 16 and 19 to afamily's existing car insurance policy.

According to the study, families who add a teen driver to theirexisting auto insurance policy will see an average annual premiumincrease of 80%, up slightly from last year's average increase of79%. One of the reasons for premium increases is teens'inexperience, which can lead to more car accidents.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.