How Should You Insure Your Teenage Driver?

Insuring Your Teenage Driver

It will not be cheap to insure your teenage driver, unfortunately. However, according to InsuranceQuotes.com, the cost for your teenager will be significantly less if he or she is added onto your plan rather than getting his or her own. On average, adding your teenage to your policy will raise your rate by about 77%, but a teenager on his or her own plan would have to pay an average of 18% more than that.

Some states charge less than others, including Hawaii, which does not allow insurance companies to factor age into the amount charged. Rhode Island charges 53% more on average for 18 teen year old drives, Connecticut and Oregon charge 47% more, and Nevada charges 41% more. New York charges 11% more and many states, including Florida, charge just 7% more for 18 year old drivers.

Therefore, it recommended to add your teenage driver onto your policy and ask him or her to help cover the elevated cost.

Statistically, teen drivers are involved in more crashes than any other age group. The drivers are new, overconfident or fearful, and often distracted, all of which causes more than your average number of crashes. With statistics showing that more teenagers are driving distracted (especially texting), these rates seem unlikely to drop any time soon.

Ways To Save On Insurance For Teens

The good news: there are ways to lower this rate. Each of the follows ways is circumstantial. Each state and insurance company has different policies regarding this matter, and it is imperative you double check with your insurance company before expecting a drop. These suggestions in no way guarantee a lower rate, but all of them are recommended regardless.

Safe Teen Driving

It seems like an obvious answer, but there is a bit more involvement in this. Keeping your teen off his or her phone while driving will help prevent her or him from getting into a crash. Each year your child does not receive a traffic violation, most insurance companies will lower the rate of his or her policy.

Other than keeping your teen from distracted driving, helping your teen learn to drive in difficult situations can also help him or her to drive safer. Be there when your teen first drives on a highway or during unfavorable weather conditions to help calm him or her down and guide the youth through the process.

But your expertise will not lower the rates on its own.

Take A Driving Class

Some, not all, driving classes will lower the rate of your teenage driver’s insurance. Not only will it help keep your teenager safer and ensure he or she understands more than the fundamental of driving, but it could save you money.

Some states also require a form of driver education for teens before they can even apply for their first permit or license. If you are interested in state-approved driver education options, you can check out our classes here, which are approved for new teen drivers in California, Colorado, Florida, Georgia, Illinois, Ohio, Oklahoma and Texas.

Get Good Grades

Some insurance companies will lower the rate of covering your teenage driver if she or he has above a B average in grades. Having good grades shows your student is responsible and less likely to crash.

Part-Time Driver

If your student will not be using the car every day, let your insurance company know. Often times, the rate can be lowered the less time your child spends behind the wheel.

Older Cars or Safer Cars

Insuring your child with an older car can often help lower your rates, but we caution against this because older cars usually have less or worse safety features than more modern models. Finding a good balance between the value of the car and the safety features is important in managing insurance costs.

Each insurance company has the right to decide if it lowers its rate for any of these, but all of them are worth checking out.