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Average Costs of Teen Drivers: Teenagers and Auto Insurance

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It is stressful to be a teenager and stressful to raise a teenager. And everything changes at age sixteen. Suddenly, teenagers are learning to drive and there are so many challenges that come with that. We are well aware of the costs associated with having a car. There is maintenance, registration, and car insurance, which all vary based on certain variables. These costs can rise as you add more drivers into the family. Thus, a lot of people wonder how they can find the best and most cost-effective insurance for their teenagers. Luckily, this is a frequently asked question and Insuravita is an expert when it comes to helping families prepare. Use our site to compare quotes and learn about the best practices for purchasing a policy and read below for more information.

Adding a Teenager to Your Plan

The average cost of car insurance can vary based on driver’s age, the type of car, location, and driving record. The best way to go about this process is to bundle all the cars that you have in your family under the same policyholder. This could guarantee you a discount through a loyalty program as you start to add other drivers to the policy. There are a few ways to handle this additional driver in a financially responsible way. One way is to add the teenage driver onto the parent’s policy; this is the most common form of car insurance for teens. The other option is to get a separate policy for the teenager, but this can usually cost more.

Costs of Teen Auto Insurance

The average cost of adding a teenager to an insurance policy can be measured in a few different ways. Depending on the state that you live in and the minimum coverage requirements, you may have an increase to your monthly bill by adding a teenager. Some of the states that will increase your monthly bill within the range of 50-70% are North Carolina, New York, Massachusetts, and Montana. The rest of the states can increase your monthly rate by anywhere from 100-120%. The average additional monthly cost of a teenage driver on a parent’s insurance plan is around $200.

Easing the Financial Burden of Teen Auto Insurance

There are several options within the insurance industry that can help parents ease the financial burden of another teen driver. Most insurance companies offer a good driver discount if you are accident-free for 6 months or more. Another initiative to promote education and responsible habits is the discount provided after proof of sufficient grades or test scores. For example, if the teen driver proves, through report cards, that they have above a B average, either makes the dean’s list or honor roll, or ranks within the top percentile for standardized tests, they can qualify for discounts.

The Takeaway for Parents of Teenagers

If you are searching for the cheapest way to insure your teen driver, make sure that you use Insuravita to assemble a competitive list of quotes. Encourage safe driving behaviors and make sure that your teen driver pays attention to the trainings provided by the insurance companies for young drivers. Good luck and safe driving!

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