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Insurance Premium Increases Show Washington D.C. Teen Collision Risks

Teenagers behind the wheel can cause significant dangers to motorists. According to NBC News, there were nearly 3,000 fatalities and 400,000 injuries in 2013 in motor vehicle collisions involving teenage drivers. Crashes were more likely to injure others. AAA Foundation for Traffic Safety reported the reach of a teen's accident risk extends far beyond the teen, after conducting a study that revealed two-thirds of crashes involving teens caused injury or death to someone other than the young driver.

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Parents need to be aware of the significant risks their children present when getting a driver's license. The increase in insurance rates parents are likely to see should serve as an important reminder of just how much more dangerous it is when a teen is behind the wheel.

Insurers know crash victims can pursue claims for damages with the help of a car accident lawyer, and they price policies accordingly. Because there is so much greater risk of high claims for accident losses with teen drivers, insurance companies nationwide will increase premiums by as much as 80 percent on average when a teen driver is added to a policy.

Insurers Recognize Significant Teen Crash Risk

Insurers have a business model the success of which relies on measuring risk accurately. Insurers have determined the younger a teen is, the greater the chances the new driver will cause injury to himself and others. When a 19-year-old is added to an insurance policy, the addition of the teen driver causes insurance rates to go up around 60 percent. When a 16-year-old is added, on the other hand, there is a 96 percent increase in insurance premiums. Parents should know the younger their son or daughter is when getting a license, the more supervision and oversight is necessary.

Teen boys may also need more parental guidance than teen girls when it comes to safe driving, as insurance companies consider young men to be significantly more accident-prone than teen girls. Adding a young woman to an insurance policy will cause an average 67 percent increase in insurance premiums while adding a teen boy causes an average policy premium increase of 92 percent.

Parents can try to reduce the dangers their kids present behind the wheel by paying attention to the things insurers offer discounts for. Insurance companies may offer substantial discounts if parents install monitoring systems in vehicles to observe how their teens are driving. Insurers believe these systems help to reduce crash risks and improve teen driving behavior. Parents should take note and consider the installation of the systems both to keep insurance premiums reasonable and to protect their children.

Teens who have a B average or higher may also benefit from as much as a 25 percent good student discount. Good students are less likely to become involved in accidents causing injury to themselves and others.

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