As a parent or guardian, adding a teenage driver to your auto insurance policy might make a few changes. For instance, since teenagers are considered reckless drivers, there is a good chance that the rates might increase. However, you can get the best insurance for teenage drivers by following a few methods.
First, you can encourage them to drive cheaper cars or get good grades in school, especially A’s. On the other hand, you can always encourage them to keep a clean driving record for the best results. There is a reason why teenagers are considered reckless drivers. For instance, they are most likely to rack up more tickets and also have very high accident rates on the road, especially sixteen-year-olds.
Well, most parents might choose to forego the entire policy, especially if it’s going to increase the premium on the policy that’s already there. That’s the not the right choice since all drivers on the road need to be insured. When applying for a car insurance policy in the first place, the insurer might request that all the licensed drivers in the family should be added to the policy, whether or not they have cars.
Therefore, when your child gets a learner’s permit it’s important to notify the insurer. However, the teen driver can only be listed under the policy when properly licensed. There are some policies for insuring teen drivers as single parents that might come in handy for divorced or single parents that are worth looking into. The parent with the primary custody can list the teen under his/her policy but if both do, there is an increase in the charges.
Keep in mind that there is exclusion policy where you can skip on paying the premium for a teen driver. It is an endorsement to the auto insurance policy in place but both parties (you and the insurer) need to agree that the teen driver isn’t insured. With that rule, any claim resulting from the teen driver being on the road is also not covered.
On the other hand, the teen driver can choose to insure his/her own car. However, different state laws might come into question depending on the ownership status of the vehicle. Most laws state that a minor can’t own any property or sign contracts such as an insurance policy, without the signature or consent of the parent or guardian.
Therefore, it’s cheaper to add the teen drivers to your existing policy rather than excluding them altogether. You can always choose to buy an additional car for the teenage and insure it. If that’s so, you need to assign the cheapest car to insure to your teen driver. Keep in mind that car models built before 2010 are considered the cheapest to insure for teen drivers.
Finally, there are always insurance discounts that can come in handy when buying auto insurance for your teenager. If possible, look through all the insurance providers’ terms and conditions and find the best insurance policy for your teenage driver with discounts and offers included.