Teenagers Unaware Of Cost Of Auto Car Insurance
Teenagers often forget that the cost of driving includes auto car insurance. According to a new survey, 44 percent of American teens have no clue about the cost of auto car insurance even though buying a car is a top priority for nearly two-thirds of them. Carrie Schwab-Pomerantz, a senior vice president at Charles Schwab, which conducted the surevy, feels that parents need to open kids' eyes to the real cost of living.
62 percent of the teens surveyed said they're interested in learning about the kinds of auto car insurance. Traffic tickets and car accidents drive up auto car insurance costs. Since teens lack driving experience and have a high risk of being involved in a car accident, adding a teen to a parent's auto car insurance policy can increase the premium up to as much as 100 percent.