Cutting Car Insurance Premiums for Teenage Drivers

teen driver auto insurance

Adding a teenage driver to a family automobile insurance policy can double your insurance costs depending on where you live, among other factors. A July survey, showed that premium increases for adding a teenager can range from an astonishing 116 percent in Arkansas to a modest 18 percent in Hawaii. The rate increases reflect the higher risk associated with young drivers. According to the Insurance Institute for Highway Safety, the fatal crash rates for 16-19 year-old drivers is three times higher than the fatality rate for drivers who are…

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Auto insurance premiums calculations seen as unfair

Health Insurance survey

Survey shows that drivers and insurers are not aligned in their concept of how rates are decided. According to the latest results of a Consumer Federation of America (CFA) study, auto insurance companies and policyholders have a very different opinion about what should and should not be used to calculate a driver’s premiums. There were 1,010 people who participated in the nonprofit consumer watchdog group’s survey. Most of the respondents said that they felt that their premiums should be calculated based on their actual driving history and behaviors. At the…

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Allstate survey shows that U.S. drivers are confident in their driving abilities despite their dangerous habits

A new study from Allstate Corp. suggests that U.S. motorists may not be as skilled of drivers as they may think. The study shows that the majority of Americans consider themselves to be good drivers with safe habits. This notion is contrary to the evidence compiled by Allstate that suggests otherwise. How the auto insurance industry will react to the study is yet to be seen. Whether the study will serve as inspiration for drivers to improve their habits is also unclear. Allstate studied more than 1,000 adults in the…

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