A married couple with two cars pays on average 84 percent more for car insurance — or about $2,000 extra — after adding a teenage driver to a policy, according to a new analysis commissioned by InsuranceQuotes.com.
The national average annual premium for a 45-year-old couple with two cars is $2,283; adding a teenager boosts it to about $4,200. Boys are more expensive than girls, resulting in a 96 percent increase (compared with 72 percent for girls), on average.
Teenagers are involved in three times as many fatal crashes as all other drivers, according to the National Highway Transportation Safety Administration.
Despite the high rates, there are ways to cut costs. One option is to delay the start of your teenager's driving career; as teenagers get older, the financial impact on premiums lessens. The financial hit is highest for 16-year-olds, who cause rates to roughly double. A married couple adding a 17-year-old can expect to pay 90 percent more, while a 19-year-old costs 65 percent more.
You could also increase your deductible to lower your premium. And you can check for "good student" student discounts; many insurers offer lower premiums — typically, 25 percent less — if students can demonstrate that they have at least a B average in school.
Most insurers also offer discounts of up to 10 percent for taking safe driver courses.