There is no way around paying an arm and a leg for adding a teen driver. However, there are some discounts that will help ease the pain initially until they get three years of clean driving history under their belt.
There is no way around paying an arm and a leg for adding a teen driver. However, there are some discounts that will help ease the pain initially until they get three years of clean driving history under their belt. Additionally, it’s wise to compare car insurance quotes as some companies will charge higher and some lower for teen drivers.
1. Compare car insurance quotes with teen driver discounts.
First of all, the good student discount could make a pretty big difference on the cost to insure them. Insist on them maintaining a high B average before and after they get their permit and driver’s license. Depending on the state and the company, it could save as much as 30%.
Have them complete both a driver’s training course and an accident prevention course. In some states you can take both as a discount. Some states will only take one or the other. However, the states that do provide the discount often do for higher savings. You can check on your state’s Department of Insurance website for allowable discounts, and then check to compare car insurance quotes with this discount applied.
Additionally, there are some larger insurers who will have their own “teen driving course” that if they complete as agreed can shave even more off when you compare car insurance quotes among these companies. There may be more, but the ones that come to mind off the bat are State Farm, Allstate, Nationwide, and AAA have programs that can give parents an extra discount. If you use an insurance directory website, you can fill out one form and get estimates from each one that you qualify for.
2. Add a teen as a driver only, not with his or her own vehicle at first.
Unless you have a very expensive sports car that you have full coverage on, don’t start them out with their own vehicle, at least for the first year. Once they have a year of driving experience being just an added driver to your policy will make a big difference when you switch them to their own vehicle.
Make sure the additional vehicle is a safe one, but one that doesn’t require full coverage. If you still live in the same household, you both can then get multiple car discounts which will most often provide the biggest reduction in car insurance quotes online.
Once you get your teen to the point of having a year of clean driving experience you can get better rates so you can compare car insurance quotes and get better rates. Depending on the state, you will either see a gradual decline in costs on each annual renewal, or you will see larger drops at specific ages.
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