For most parents, adding their teenage driver to the family auto insurance policy is both exciting and nerve-wracking. While many are concerned about their teen’s safety on the road, the cost of insuring them might be equally worrisome. The team at Farmers Insurance: Daniel Oliver, located in Edina, MN, discusses some tips for adding your teenage driver to your insurance policy.

4 Tips for Adding a Teenager to Your Auto Insurance

1. Research Multi-Policy Insurance Discounts

If you currently have auto and home insurance through one carrier, it may be less expensive to purchase auto insurance for your teen driver from the same insurer. A bundled insurance policy is typically more economical than buying your teens their own coverage. Your agent can provide you with insurance quotes for adding your teen driver.

2. Inquire About Good Student Discounts

Your auto insurer may offer good student discounts to teenagers who do well in school. For instance, Farmers Insurance offers full-time students under the age of 25 discounts on their auto insurance policy if they receive good grades. Ask your insurance agent if they offer good student discounts, how your teenager can qualify, and how much the discount is.

3. Consider Purchasing a Used Vehicle

Teenagers are more expensive to insure because they tend to be involved in more accidents. Having them drive a safe, used vehicle can save money on their auto insurance. Visit the Insurance Institute for Highway Safety’s website for a list of recommended used vehicles for teen drivers.

4. Purchase Additional Liability Insurance

The amount of liability coverage on most auto insurance policies is not enough to cover the cost of a lawsuit if your teen is involved in an accident. Purchasing additional liability insurance coverage protects your assets if this situation occurs. Ask your insurance agent about adding at least $1 million of liability coverage for protection.

The team at Farmers Insurance: Daniel Oliver has over 30 years of experience helping local residents find the coverage they need at the most affordable prices. Give them a call at (952) 925-4454 to speak to an agent. You can also visit them on Facebook for more information about their insurance agency.