If I add a name to my policy, will it increase?
Yes, any changes in your car insurance policy in terms of person covered will mean an increase in premium. The exact amount of the increase will depend on who you are adding, how many people you are adding, and their personal driving record and data. For instance, insurance companies will usually quote a higher premium if the person added is a young teenager who just got his driver’s license. The amount would be lower if you add a spouse with a perfect driving record after you got married.
In short, insurance companies will assess the additional risk factor for them so age and experience matters.
Once the additional name is approved, as the main policy holder, you are responsible for the actions of the listed person/people. You cannot feign ignorance about a car accident or a traffic citation issued against your vehicle. Insurance companies will hold you fully responsible for all the incidents by the listed secondary drivers. When the renewal period comes around, you may see a big increase if the secondary driver has racked up a bad driving record.
Many parents add their teenagers to their policy because they believe it will teach them to be responsible. They may even require that child to pay for the additional amount charged to their car insurance policy to prepare the teenager for the time when he will have to pay for his own auto insurance.