Wisconsin parents might be interested to hear that insuring teenagers is more expensive that insuring any other drivers. Teens are considered the riskiest drivers. Therefore, insurance companies charge more to insure them. According to a senior insurance analyst for InsuranceQuotes.com, parents experience an annual insurance premium hike of 84 percent when they add their teens onto their auto insurance policies.
According to the insurance analyst, teens don’t have much experience driving, they tend to be distracted and they are usually driving with other teenagers in the vehicles with them. She goes on to say that traffic accidents are the leading cause of teen deaths. According to the Centers for Disease Control and Prevention, almost as many young adults between the ages of 15 and 24 died from traffic accidents as they did for the other two leading causes of death for their age group combined. However, according to the Insurance Institute for Highway Safety, the number of teens who died as a result of a car accident decreased by 64 percent between 1975 and 2010.
The number of traffic deaths for teens between the ages of 13 and 19 has been decreasing since 2002. Some say this is because of better driver’s education courses and better safety standards in vehicles. Additionally, many states have imposed stricter regulations on teen drivers. Even though teen traffic numbers are decreasing, they still have a higher risk of encountering accidents than other drivers, which is why insuring them tends to remain so expensive.
Parents whose teens are involved in car accidents could end up finding themselves the subjects of personal injury lawsuits. Personal injury lawsuits allow people to seek for their injuries as well as their pain and suffering when they are involved in car accidents. Personal injury lawyers might be able to assist people in filing their claims.
Source: Market Watch, “Have a teen driver? Open your wallet“, Jennifer Waters, July 11, 2013