The Need to Reduce the Car Insurance Costs for Teens and Young Drivers If a teenager wishes to buy a car insurance other than their parents’ policy, they are definitely indulging into something which their summer jobs are unable to handle. This is the reason many parents prefer to put their children on the family insurance policy so that they do not have to spend their entire savings on paying their insurance premium. According to the Insurance Institute for Highway Safety, the drivers who are under the age of 20 are three times more likely to be involved in a deadly car crash. There is no denying that the risk level of the teens being involved in any kind of accident is high but this does not justify charging double premiums to them. Since these youngsters are already involved in a $1.3 trillion student loan debt, paying for their car insurance is nothing less than a nightmare for them. However, the price of car insurance varies from one state to another. For example, in Arkansas, a teen driver will boost the family car insurance by 116 percent but only by 18 percent in Hawaii. …show more content…
The male teenagers are more likely to pay higher premiums as compared to females because their likelihood of being involved in an accident is higher. Other variables which are involved in changing the rate drastically include the state you live in, ownership of a personal car, qualification for certain discounts, and your choice of insurance carrier. Click here to learn more about car insurance comparison and make an informed choice for yourself. If we talk in numbers, then adding a teen driver to a family insurance will be something around $15 to $20 monthly increase. On the other hand, adding a teen along with a car means that you are looking at a monthly premium as high as