Got a kid at home who’s about to obtain his or her driver’s license? Expect to see the family’s car insurance premiums skyrocket.
Adding a teen driver to a married couple’s auto insurance policy boosts rates by an average 79 percent according to a report conducted by InsuranceQuotes.com in San Francisco, Calif. Insuring a 16-yearold son will increase the insurance bill by a whopping 92 percent, while adding a same-age daughter will result in a softer 67 percent surcharge.
The costliest state for teen drivers is New Hampshire, where parents face an average premium boost of 111 percent, followed by Rhode Island (+107 percent), Maine (+107 percent), Wyoming (+106 percent), Connecticut (+102 percent), Illinois (+101 percent) and Oregon (+101 percent). The most affordable places to give a kid the keys are Hawaii (prohibits age and sex as premium criteria), New York State (+53 percent), Michigan (+57 percent), Montana (+61 percent) and New Mexico (+62 percent).
— Jim Gorzelany © CTW Features