Auto Insurance and your Teenager

Should I put my teenager on my auto insurance policy? This is a question that parents of new drivers ask themselves time and time again. Although this is not the only option, it is the one that most people take advantage of. You could buy a separate policy for your teenager, but this is not something that most professionals recommend.

When you put your teenager on your auto insurance policy the premium is most definitely going to increase. In fact, if you have a teenage boy you are going to see an even bigger spike in your premium. Since teenagers are much more likely to be involved in an accident than older drivers, it is very important that you purchase the proper level of coverage for them.

Your premium is based on the number of drivers on the policy. Adults can receive discounts for things such as having a good driving record, insuring more than one auto, being married, etc. The discounts that parents receive will help to offset the cost of adding a teenager to the policy.

Also, consider the fact that your rates can decrease based on things that your teenager can do. For instance, if they get good grades or take a driver’s education class they may qualify for discounts with your auto insurance company. Be sure to let your teenager know what they can do to keep the cost of your policy down.

If your teenager is closing in on getting their license, make sure that you are ready to get in touch with your insurance agent. They will be able to work with you to get your teenager all set up on your policy.