Insuring Teen Drivers
The Challenge of Safety and Car Insurance for Teen Drivers
Kids coming of driving age create two kinds of anxiety for parents: the extra cost of car insurance and the worry about our teens getting in accidents. The two issues are inextricably intertwined when it comes to insurance. The cost of insurance new drivers, particularly 16 year-olds, is higher precisely because new drivers are involved in a disproportionately higher number of accidents as well as a greater share of really serious accidents.
There are a few things you and your teen can do to limit the cost of insurance while they establish themselves as safe drivers.
- Try Not to Make Your Teen a Primary Driver - When teenagers have their own car, provided exclusively for their use, car insurance premiums tend to be higher than if they were to share a car with another family member.
- Avoid High Performance Cars - Sports cars and young drivers are a formula for really high car insurance rates.
- Take Advantage of Every Possible Insurance Credit - Insurance discounts like safety device credits, credit for placing home and auto insurance with the same company and credit for higher deductibles may have nothing to do with your teen driver but they can offset some of the premium increases you will see when you add them to your insurance policy.
- Make Sure Your Teenager Gets Good Grades - Many insurance companies offer good student discounts for maintaining certain GPAs.
- Make Sure Your Teenager Obeys Traffic Laws - Tickets for speeding or rolling through a stop sign are an expensive double whammy for teen drivers.
- Have Your Teen Driver Pay a Little - If your teenager has to pay for any increase in insurance costs out of their own pocket they may take their driving responsibility a little more seriously.
We have a few other resources on our website that may help you manage your insurance costs...and your teen driver:
Contact us anytime for more information or to review some options for managing your teen driver and car insurance costs.