Helping your teenager get their driver’s license is just one step in a process that will make them more independent. While your teen may be a responsible driver, their auto insurance won’t always reflect their level of skill and understanding of traffic laws. If you are a parent of a teen driver, these tips can help you lower the cost of coverage.

4 Ways to Reduce Your Teen’s Auto Insurance Rate

1. Shop Around

It’s a common practice for parents to get their teen’s insurance through the same agency they use, but this might not be the most cost-effective approach. Your insurance provider might you a good rate based on an established driving history, and your teen might not have enough experience to get the same rate. It may be worthwhile to get quotes from a few different insurance providers to find out who helps young drivers the most.

2. Find a Good Driver Rewards Program

Ask your insurance agent about rewards programs for good driving habits and academic performance. These incentives encourage your teen to demonstrate responsible behavior in the most important areas of life and show the insurance agency that they’re a safe investment. Safe driving programs often involves attaching a monitoring device to your teenager’s vehicle to track their behavior behind the wheel, including their speed and routes.

3. Add Your Teen’s Vehicle to Your Insurance 

Instead of buying a separate plan for your teenager, you may prefer to add them as a new driver on your existing auto insurance policy. Insurance carriers often have discounted rates for multi-car policies to give families a break. Additionally, your teenager may get a lower rate if your insurance provider views you as a loyal customer.

4. Add Your Teen as an Occasional Driver

Instead of getting your teenager a car of their own, sharing a vehicle can control your insurance costs. Much like adding a new car to an existing policy, you can also add new individuals who will benefit from the protection you already have. As long as there are more drivers in the family than there are vehicles, you can take advantage of this option. It will give your teen some driving experience and help them qualify for better rates when they’re ready to buy a policy.

If your teen will be driving to school this year, it’s time to decide how you’ll protect them. Albers Insurance Agency offers affordable auto insurance to drivers of all ages in the Cincinnati, OH, area. They can help you explore all the options available for insuring your teen driver, so you can teach them to drive safely and save money. Visit their website to learn about the carriers they work with, and call (513) 891-3304 to speak with an agent.