My teen is about to get his License, what do I do?

How much will my new teen driver cost me?

Your teen is about to start driving and they will be on your policy. How much more is your policy going to cost? Well an insurance study found that adding a teenager increased annual premiums substantially. However the magnitude of the increase has been falling over the past few years.

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Adding a single teenager to a policy caused annual premiums to increase an average of 78 percent, or $671. But the impact of adding teenagers to a policy can be a shock to families, especially those adding boys. Putting a male teenager on your insurance policy increased rates an average of 89 percent. Compare that  with 66 percent for a female teenager.

Younger drivers have more accidents than older, more experienced drivers, and file more insurance claims. Nearly 1,900 drivers aged 15 to 20 died in car crashes in 2015, according to the National Highway Traffic Safety Administration, up 9 percent from 2014. Motor vehicle crashes are the leading cause of death among teenagers, according to the Centers for Disease Control and Prevention.

As with most insurance costs, the impact of adding a teenager varies by state. Blankit is here to explain how your teen can impact your insurance premium.  Blankit will also review the coverage you have now will be sufficient for your family and your new teen driver. Contact Blankit today with any of your questions about any of your polices. Make sure your protected with Blankit.

 

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