Newspaper article The Record (Bergen County, NJ)

Teens Drive Up Car Insurance

Newspaper article The Record (Bergen County, NJ)

Teens Drive Up Car Insurance

Article excerpt

If you live in New Jersey and want to add a teenager to your auto insurance policy, it's going to raise your premium 74 percent, according to a new report. But believe it or not, compared with other states, New Jersey ranks pretty well -- as in low -- in terms of the additional cost.

New Jersey had the 11th-lowest average increase in the nation, according to research by Quadrant Information Services commissioned by InsuranceQuotes.com. For the second year in a row, the study looked at the economic impact of adding a driver between the ages of 16 and 19 to a family's existing car insurance policy. In New Jersey, adding a teenage male pushed up insurance cost for his parents 84 percent, while adding a female teen led to 64 percent higher costs, averaging out to 74 percent, the report said.

That's a drop from last year, when the increased cost in New Jersey was 86.21 percent, ranking the state 23rd in terms of the lowest increases. Nationally, the increased cost to insure a teen driver also declined during the past year. …

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