Adding my teen driver to our policy will cost me HOW MUCH?!
Parents shell out an average of more than $2,500 each year to allow their teens to drive, according to poll conducted by Harris Interactive. In fact, the National Safety Council states that teen car insurance for a girl will cause the family car insurance to likely double, and for a boy it will likely to triple (the general view is that boys are more reckless drivers than girls).
Why this spike in rates, you ask? Drivers ages 15 to 19 tend to get into more accidents than older drivers and have little driving experience. So, even if you have a clean record, your rates reflect the overall teen track record. There are ways to decrease rates on car insurance for teenagers, but buying a car for the teen and putting them on their own policy normally isn't one of them.
So how can parents of teenage drivers reduce the teenage auto insurance costs?
Saving on Teen Auto Insurance
It’s exciting when you pass the car keys over to your teenage driver. But adding insurance for teens to your policy can cause your rates to rise. Follow these tips to help keep your premiums low when dealing with auto insurance for teens and high-risk car insurance.
- Drive Wisely. Teens have the physical ability to react quickly, but they may not have developed the skills to scan the road and anticipate what might happen. For those who’ve been driving for less than three years, a discount on auto insurance for teenagers is available to young drivers who’ve completed a six-hour road training course that helps you avoid distractions and drive smarter.
- Be a good student. Many insurance companies offer discounts on auto insurance for teen drivers who get good grades. If you’re a full-time student under the age of 25 maintaining a B average in the most recent semester or cumulative, you can save big on teens car insurance.
- Keep it in the family. Discounts earned by the adults in a household can be applied to a teen driver. You can save up to 25% on premiums with multi-car, multi-policy and financial responsibility discounts reducing the costs greatly with car insurance for teenager drivers.
- Take a defensive driving course. In some situations, especially if your young driver has been involved in an accident or traffic violation, having your teen driver complete an approved defensive driver courses can be well worth the cost.
- Save by Paying. Sometimes, the method of payment you use can save you money. A simple change to monthly auto pay can create savings when dealing with auto insurance for teens.