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If you live with Your parents they must notify their insurer that you now have a license. The rates will likely raise but only the insurance company will know how much it may go up.

"It is important to remember that insurance rates are based on "risk," or the likelihood that an accident involving someone on your policy will occur. That is why rates increase when teenage drivers are added to insurance policies. However, many companies extend coverage to the children of covered drivers whether they are on the policy or not. This is done in order to comply with industry-wide standards that typically provide coverage to a policy holder's children.

Despite their standard practice of covering teen drivers who aren't on the policy, most insurance companies still request that parents add their teen drivers to their insurance policies to ensure that they are collecting adequate premium for each driver. These companies may also reserve the right to deny claims if they believe a parent has concealed information about a teen driver in the household. To be sure that your teen driver's claims will be covered, add them to your policy as soon as they are eligible to drive."

Have your parents notify Geico ASAP

For most insurance companies, the definition of an "insured" is anyone who is related and lives in the household as the named insured (policy holder). Technically speaking, even if you name does not appear on the policy, you are considered an insured since you are related to your parents and reside in the same household as your parents.

HOWEVER, most insurance companies receive reports from the DMV when young drivers are issued a license for the first time. Therefore, the insurance company is alerted when a teen in the household is issued a drivers' license. In order for the insurance companies to receive a fair premium in regards to risk, most insurers will either 1. have the policy holder add the young driver to the policy (with an increased premium) or 2. have the policy holder sign a waiver/ exclusion form stating that the young driver is excluded from being a covered insured (since the young driver is being excluded from insurance coverage, the premium will not increase).

Adding a young driver is quite expensive and I've seen policies where premiums increase by 50% from adding a teen driver. The only way to get a definite cost to add you to the policy, you will need to contact your insurer.