SEATTLE--(BUSINESS WIRE)--With the back-to-school season around the corner, QuoteWizard (quotewizard.com), an online insurance comparison marketplace, today introduced a study https://quotewizard.com/auto-insurance/cost-of-teen-car-insurance) on car insurance rates for teen drivers in the United States. The study also provides a comprehensive look at underlying factors, as well as a series of recommendations for teens and their parents to potentially help reduce car insurance rates.
Among its findings, QuoteWizard reported that a 16-year-old driver buying an standard individual policy without bundling costs an average of $438 a month -- more than $5000 per year.
The study examines several different factors and reveals some striking findings:
- Teenage boys cost more to insure than girls
- Adding to their parent's policy is cheaper for a teen than buying an individual policy
- Single parents don't save much more than married couples
To understand the cost of insuring a teen, QuoteWizard compared quotes for teenagers across the country from top insurance companies. Quotes were based on a standard insurance policy for a risk-free driver. The results may be hard to swallow for parents and teens alike.
“Many of us who’ve grown up driving here in the US have long sensed that teens are charged more than just about any other demographic for car insurance, so we felt the time was finally right to take a hard look at costs,” said Adam Johnson, QuoteWizard content manager. “While our findings confirm that teen drivers can be charged alarmingly high rates for car insurance, our study also provides some specific guidelines and data to help teens and their parents better understand and navigate the increasingly complex world of car insurance.”
For a full copy of the study: https://quotewizard.com/auto-insurance/cost-of-teen-car-insurance.
QuoteWizard (quotewizard.com) is an insurance comparison marketplace for consumers looking to save on insurance. QuoteWizard provides consumers with direct access to thousands of qualified agents in all 50 states, as well as major carriers, who offer personalized quotes and the opportunity to save up to 40% on auto, home, health, and life insurance. Agents and carriers, in turn, benefit from millions of highly qualified leads, calls and traffic to their site. Based in Seattle, QuoteWizard was founded in 2006.