Are you being overcharged for your Teen Driver?

One of the most expensive auto insurance exposures is a teenage driver. If you have high school aged kids in the house, you may have already realized this fact. While there are many factors that go into determining the price you are charged for insurance, the age of those driving vehicles in the household is one of the most significant.

In the past, insurance companies divided drivers into 7-8 different age bands. There was one bracket for 16-19 year olds, 20-23, 24-25, and so on. In recent years and with the advent of increasing technological investments, insurance companies have been creating almost yearly deviations in rating profiles to accurately price drivers with each additional year of driving experience. The idea was to more accurately and gradually adjust rates as the drivers gained more experience. However, it is unclear whether these changes have in fact affected the prices that parents are actually paying to insure their teenaged drivers.

At Fowler & Associates, we are going to conduct the mother of all comprehensive rating surveys to determine empirically what families with teenaged drivers are being charged and which companies are offering the best prices and incentives for families with teen drivers. Now more than ever, families are looking for ways to save money on auto insurance and need every penny to pay for the necessities in life. Over the next few months, we will survey thousands of households to uncover what parents of teen drivers are actually paying for auto insurance in many neighborhoods throughout California, as well as which companies are the most economical in each geographic location. We will post our findings here for your review and comment.

If you would like to participate, you can send us your contact information by filling out the contact form at the right of this web page. Check back for information as we complete this study.