Do State Regulations Drive Cost Of Teen Auto Insurance?

by Categorized: Insurance Date:
(MCT)

(MCT)

This weekend’s Bottom Line column:

Teen driver alert! Parents probably know what’s coming: Insurance premiums go through the sunroof when adding a young driver to the family’s auto coverage.

In Connecticut, a married couple’s auto premium will increase 79.61 percent when adding a young driver, according to a new report by InsuranceQuotes.com. In actual dollars, the average increase in the state is $2,149.17.

“A typical [Connecticut] consumer is paying $2,700 without a teen, then boom,” says Laura Adams, senior analyst at InsuranceQuotes.com. “They add a teen and they’re up to $4,850 to have those two cars and three drivers on the policy.”

More . . .

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