Insurance Rates Skyrocket for Teen Drivers

When it comes to insurance, the riskier the driver, the more expensive they are to insure. That is especially true when it comes to inexperienced teen drivers.

In Virginia, the average increase in a policy with a teen driver is 88.2 percent, but Insurance agent Mike Arnold says there are ways parents and teens can save money.

Arnold says safe cars are a safe bet to save some cash.

"A mid-size four door car is typically the least amount the insure as far as cost because they are some of the safest vehicles," said Arnold. "If you go either up or down, to a large SUV or even a two-door coup, the cost is going to increase due to the severity of accidents in those costs classes."

Teens can take money saving matters into their own hands, by earning a good student discount.

"Good students typically are more responsible persons, and that's going to translate to a lower insurance premium," Arnold said.

Other ways to save money are boosting your deductible, or delaying letting you child get behind the wheel.

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