Teenagers are risky drivers who are expensive to insure - the plain and simple truth.

According to the Insurance Institute for Highway Safety, the fatal crash rate for drivers between the ages of 16 and 19 is almost three times higher than all other age groups.

So, it should come as no surprise to anyone that adding a teenage driver to an existing auto insurance policy often results in a BIG SPIKE in annual premiums.

For the fourth year in a row, InsuranceQuotes.com commissioned a study examining the economic impact of adding a driver between the ages of 16 and 19 to a family's policy.

According to the findings, U.S. families who add a young driver to their existing auto insurance policy will see an average annual premium increase of 79%.

The good news, however, is the average premium increase for teen drivers is down from last year's average of 80%, and even lower than 2013 when it was 84%.

Teen driver deaths have trended downward for several reasons. For one thing, the percentage of teens on the road has steadily declined.

According to a study done by the University of Michigan, 69% of 17 year old Americans had a license 30 years ago. Today, that number is only 45%.

And not all teen drivers are charged equally for insurance. The InsuranceQuotes.com study found it costs more to add a male driver than it does a female driver.

The study found that adding a male teen to a married couple's policy results in a national average premium increase of 91%. The average increase for adding a female teen is 67%.

In South Dakota, the average increase is just over 59%, which ranks us fifth from the bottom. In Minnesota it's 81%, in Nebraska 87%, and in Iowa it's 89%.

The biggest increase occurs in New Hampshire where it's over 125%. The lowest increase is in the state of Hawaii where it's only 17%.

To read more on the study, CLICK HERE.

(Source: InsuranceQuotes.com)