According to research cited by CBS News, adding a teen to an auto insurance policy can increase rates by a whopping 44 to 62 percent (but getting him or her an individual policy usually costs even more).
This is because most insurance companies consider teenage drivers high-risk drivers, and high risks mean spiked coverage costs. Thankfully, though, you can do something about this.
When your son or daughter turns sixteen and gets behind the wheel, keep these six top tips in mind:
Kimberly Quinones is the Vice President of Midwest Sales for Access Indiana auto insurance. She oversees all aspects of sales, service and customer retention programs. Kim is a proactive leader and is deeply focused on the issue of driver safety. She and her team oversee all aspects of sales, service and customer retention programs for the organization.