Behind every teenage driver is, as every parent knows, an expensive insurance policy. This is because many insurers consider anyone under the age of 25 a risk. Here are some tips to help keep your driver safe and your insurance costs down.


Set and enforce rules. Although parents cannot control the cost of insuring a teen driver, they can control how well a teen respects the privilege of driving. It is important to set some rules for teens before they get behind the wheel. Some examples of rule topics: When the teen is allowed to drive or when they’re prohibited from drivings; How many friends are allowed in the vehicle at one time; Where the teen is allowed to drive. Sit down with your teen to go over the rules and discuss and agree on what the punishment will be for breaking them. 


Know the facts about accidents. According to the American Academy of Pediatrics, more than 33 percent of deaths among people between the ages of 16 and 20 resulted from auto accidents. A grim statistic, but a good way to enforce that teen driving is a privilege to be taken seriously.


Compare costs of adding a driver or buying a vehicle. While not all parents want to buy a vehicle for a teen driver, it may be cheaper on a long-term basis. Adding a teen driver to a policy can be very costly. In some cases, it may be easier and less expensive to buy an economy car, put the teen on that policy and choose liability coverage. Always consider options before paying a large sum to add a teen driver.


Provide detailed information for a quote. To receive an accurate insurance quote, be sure to provide complete information. The year, make and model of a vehicle will affect the premium. 


Ask about discounts. Some insurance companies offer different discounts. However, not all companies offer the same type of discounts or the same terms. Some companies offer discounts for taking a driver’s education course, honor roll credentials, multiple cars on a policy, additional bundled insurance products and certain vehicle safety features.


Look for coverage modifications. This should be a last resort for parents who decide not to buy their teen an older economical vehicle and are facing the cost of adding the teen to their own policy. Those who have high coverage limits may lower them, and increasing the deductible will lower the premium. Keep in mind that a state’s minimum coverage requirements will not always cover the cost of hospital care for other drivers and passengers if the teen is responsible for an accident. The key idea to remember is to revise coverage wisely and only if it is absolutely necessary.


Update insurance information as needed. If a teen driver is added to a policy or has a separate policy for their own vehicle, it is important to keep the insurance company informed. Tell the insurer about any grade or education changes that may affect premiums. Make sure to update age information when the teen turns 18. 


With these tips, parents can make this process a little easier and avoid some costly mistakes. Reach out to an agent today to discuss concerns and learn more about teen drivers and auto insurance. 

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