There comes a time in every parent’s life where they ask the question, “Does my teenage son or daughter have to be on my auto insurance policy?” Just the thought of putting an inexperienced driver behind the wheel is enough to send shivers up and down the spine of your average man or woman. Although it cannot be avoided, the longer your teenager waits to get his or her driver’s license, the more time you will have to think things over and select the best policy for your child.
Adding your son or daughter to your insurance can significantly change the price of your monthly payment. This may not be a possibility for you if you are already living on a very strict budget. That is why it is so important to be cool, calm, and collected when you make an inquiry about teen car insurance rates. Here’s how to find the best auto insurance policy.
Price Increases From 50 to 100% For Teenagers
It’s a simple fact that young drivers cost more to insure. Insurance companies charge a rate increase of 50 to 100% when they catch wind that a teenager will be driving under your insurance policy and there is a reason for that. Traffic crashes are the leading cause of death of young people in the United States. Men and women ages 16 to 19 also have the highest number of accidents and safety violations out of any other age group annually. Needless to say, the statistics are not in your teenager’s favor.
Tips For Saving Time and Money On Your Insurance Policy
Before you start feeling discouraged, be reminded that there are other ways to obtain cheap car insurance rates. In fact, here are a few tips that can help keep your premiums low without compromising the safety and security that you have grown used to by being a loyal customer of your insurance company:
- Be on the lookout for policies that offer “Good Driver” and “Good Student” discounts. If your son or daughter maintains his or her good grades and avoids having any accidents or major traffic violations, you may be eligible for a discount on your teen automobile insurance.
- Choose a sensible vehicle with driver and passenger air bags. Buying your teenage child a sports car is the last thing that you want to do. The flashier and more expensive the vehicle is, the higher your insurance rates will be. A used vehicle of significant size and age can make all the difference in slowing your young driver down.
- Buy a separate policy for your teen. Sometimes it is in your best interest to go with another insurance provider in order to get a better rate. You can do some price comparisons online and narrow down your search to one or two companies that are willing to do business with you and your teenager driver. The internet is a great place to start when you’re looking for cheap auto insurance rates.
Finding cheap auto insurance for teens takes time but is well worth the effort. By receiving a quote online in regards to what they charge to add a young driver to your policy, you increase the chances of getting the best bang for your buck without losing your peace of mind. You will also find solace in knowing that your teenager is being looked after even when you’re not there beside them and that it is very reassuring.
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The best way to keep your premiums down is to make sure your teen maintains a good driving record, meaning no tickets and no crashes. One of the best ways to do that is to make them take a driver’s training class. Students with good grade point averages in school receive very good discount.
I know each state is different for insurance purposes, but we recently found out about "occasional driver" status in Massachusetts. We added our 17 year-old daughter onto our policy last fall and because we only have one vehicle in our household with three licensed drivers, she was given the occasional driver status. We're "only" paying $650.00 a year for her at this point, a far cry from the couple thousand we were anticipating in this state.