It's a right of passage, learning how to drive but that right can be pricey. According to CBS, a new study shows the financial costs faced by parents with teen drivers, varies from state to state.
Parents with teen drivers can expect to pay about $2,000 more to cover their insurance premiums.
That's roughly an 84% jump for a married couple with two cars.
Parents here in South Carolina can expect an average increase of 80%. Our state has the 15th lowest average premium increase for teen drivers.
The 5 states with the highest average premium hike are; Arkansas (+116%), Utah (+115%), Wyoming (+112%), Alabama (+111%) and Idaho (+107%).
The 5 states with the lowest average premium increase; in first place, Hawaii (+18%). Hawaii won't allow insurers to increase premiums based on driving experience, gender or age.
Our sister state, North Carolina came second (+59%), followed by New York (+62%), Massachusetts (+66%) and Montana (+66%).
As a parent, you may want to think about waiting until your teen is older before letting them get behind the wheel; 16-year-olds (+99%), 17-year-olds (+90%), 18-year-olds (+82%) and 19-year-olds (+65% ).
As your teen ages your car insurance premium will get lower especially if your teen driver is a girl.
The average premium for girls will rise about 72% with boys that'll jump to 96%.
To lower your premium you may want to consider increasing your deductible and apply for discounts. Find out if your teen qualifies for a good student discount or a discount for taking an advanced driver training course.
To view the entire list visit http://www.insurancequotes.com/auto/insurance-for-young-drivers#.Ufe7G22d6Sr
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