NECMF
courtesy Geico

Jun 16, 2016 11:21 AM

NH parents of teen drivers see bigger jump in their car insurance than in any other state

NH1.com

New Hampshire parents who add a teen driver to their car insurance policy face a potential premium jump of more than 125 percent -- the highest in the nation, according to a newly released study from insuranceQuotes.com.

The study compares New Hampshire’s auto insurance rates for parents of teen drivers to rates in the rest of the U.S. Premium rates go up substantially everywhere, but jump more than 100 percent in only five states, two of which are in New England. See the full list here.

"Anytime you add a driver that is likely to be involved in more accidents, as well as more serious accidents, the rise in insurance cost will be steep," says Mike Barry, spokesman for the nonprofit Insurance Information Institute.

Premium increases are steepest when parents add a young male driver to their policy but those rates improve somewhat as the drivers reach age 19. This is because insurers generally consider young men to be riskier and more dangerous behind the wheel than young women.

The fatal crash rate per mile driven for drivers between the ages of 16 and 19 is almost three times higher than all other age groups, according to the Insurance Institute for Highway Safety.

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