By Jim Donovan: Adding a teenage driver to a married couple’s car insurance policy leads to a 79% higher average annual premium, according to a new insuranceQuotes.com report.
Teenage males (+92%) are much more expensive to insure than teenage females (+67%). The good news is that the premium increases decline each year, from 96% for 16-year-olds to 58% for 19-year-olds.
In the Delaware Valley you can expect your insurance rates to go up 74.20% in NJ, 81.60% in PA and 84.56% in DE.
So how do you avoid this? Laura Adams, senior analyst for InsuranceQuotes.com says, “A great strategy for lowering car insurance costs is to sign up for pay-as-you-drive car insurance,” adding, “These programs allow companies to track your driving habits and can lead to significant discounts, especially if you’re a safe driver who doesn’t rack up too many miles. Teens who excel in the classroom should also take advantage of good student discounts.”
Or you can always move to Hawaii. Hawaii is the only state that prohibits age, gender and length of driving experience from affecting car insurance costs. As a result, teen drivers only cost 17% more to insure in Hawaii, the lowest increase in the nation by far.
Click here to view the average premium increases in all 50 states and the District of Columbia: