Adding a Teen Driver to Your Auto Insurance Policy

Every teenager looks forward to the day they can get their drivers license. This is also a time that many parents fear. While you trust your kids to make the right choices, the chances of your teenage driver getting into an accident are higher, due to inexperience. As you add your teenage driver to your car insurance policy, you will undoubtedly see an increase in your car insurance premium. However, there are still ways to save on your car insurance; even with a teenage driver on your policy.
1) Good Student Discounts – Most insurers will offer discounts between 10-25% for teen drivers that maintain a B average or better. This could be seen as an incentive to your teenager to keep those grades up.

2) Maintain a Clean Driving Record – Your rates are going to go up when you add your teen driver; but that rate hike will pale in comparison to what they could be if your teen driver gets in an accident, or even gets just one traffic violation. Make sure you impart the importance of driving safely, and remind them that driving is a privilege that can be easily taken away if they cause an accident or ignore traffic laws.

3) Raising Your Deductible can Save You Money – Many people may know that raising their deductibles on their insurance policy can save them money, but most don't feel the need to do this until they realize how much their insurance premiums are going to increase once they add their teen driver to their policy. However, all drivers on the policy must be careful not to get into accidents with that higher deductible, as this is the amount that will come out of your pocket before your insurance company starts paying for the rest of the covered damage. If you've raised your deductibles, make sure to convey to your teen driver that accidents are now double whammies. However, if you can avoid any accidents, higher deductibles can afford you considerable savings.

4) Have Your New Driver Drive Your Oldest Car – While you might be tempted to buy your teenager a new car with all the latest safety features, remember that newer cars are more expensive to insure. If your insurance company lets you assign drivers to your cars, assign your teen the oldest car on your policy.

5) Shopping Around for Multiple Auto Insurance Quotes – Make sure you review your policy at least once a year to make sure all the information is current. Your rates could go down once your teen graduates from high school or turns 18. Or, if your college student does not have a car at college with them you could take them off your policy. Most importantly, before you add your teen driver to your existing policy, be sure to compare rates from several companies at InsWeb. Car insurance rates vary from company to company and the only way to find the best rate is to comparison shop.

Provided by InsWeb.com