Reason: Their auto insurance rates are going up as much as 115% in some states!

Questions for students:

• Which states have the largest increases in auto insurance rates when a teen driver is added?
• Do you see any regional patterns that you might be able to explain?
• How do the accident rates for 16 year-olds compare to those of 25-year olds?
• How do accident rates differ between men and women in their teens? In their 80s?
• What are the reasons that you think accident rates are so high for young drivers?

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.