Georgia parents looking to purchase automobile insurance for their teenage children may be shocked by the sticker price. Insuring teenage drivers can cost parents a small fortune due to the extraordinary amount of car accidents that involve teenage drivers.

Parents can pay as much as a 116 percent more than their current insurance premium, depending on their state, geographical area, type of vehicle, and several other factors. Teenagers in urban regions of Georgia may cost parents less than teenage drivers in rural regions, since rural areas tend to experience a greater incidence of auto accidents due to higher speed limits.

There is no hard and fast rule for estimating the incredible cost of insuring a teen. Some parents attempt to lessen the blow to their insurance premiums through education; teenagers who qualify for their insurance carrier’s good student discount or complete extended driver’s education classes can sometimes receive lesser premium increases than those who do not. Other parents ensure that their teens drive older, safer vehicles to ease the pressure on their familial car insurance bills.

Even the safest teenage drivers cannot always protect themselves from careless drivers, particularly other teens. These incidents can, and often do, lead to injuries or even death simply because a teenager drives while distracted or doesn’t follow laws governing the speed limit, the number of passengers allowed in the vehicle, or restricted driving hours. Individuals who are injured by a negligent driver may be able to pursue compensation from that driver. A personal injury attorney may be beneficial to a car accident victim who chooses to file suit.

Source: Market Watch, “Have a teen driver? Open your wallet“, Jennifer Waters, July 11, 2013