PROVIDENCE – Rhode Island has the largest average auto-insurance rate increase after adding a teen driver in the nation, according to a Wednesday report by InsuranceQuotes.com, an online insurance-quote comparison service.
Premiums in Rhode Island increase 152.7 percent on average in the Ocean State when adding a teen driver to a car insurance plan. The national average is 77.5 percent. Nearby in Massachusetts, premiums only increase 63.3 percent.
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The average auto-insurance premium in Rhode Island in 2014 was $1,106. This means adding a teen to a policy could increase that cost to an average of $2,794.
Insuring a male teen driver in Rhode Island costs even more money, averaging a 168 percent increase in premiums, to an average premium of $2,968, 79 percentage points higher than the national average for teen males. Female teens affect premiums less, but still more than other states with a 137.1 percent increase in premiums to $2,622. The national average is a 66.5 percent increase.
New Hampshire was reported to have the second-highest increase to premiums at 130 percent, followed by Maine at 110 percent.
On the opposite end of the spectrum, premiums in Hawaii only increase 8.1 percent when adding a teen driver to an existing auto-insurance policy.
The report is based on data from Quadrant Information Services, a quantitative and qualitative web-services company that specializes in the insurance industry.
Chris Bergenheim is the PBN web editor.
