The day your teen gets their driver’s license may be exciting, but it also brings worries about their safety and your auto insurance costs. Because teen drivers cause a disproportionate share of accidents, insurance companies typically charge higher premiums to make up for the risk. If your teen is getting their permit soon, below are a few things you should know.
3 Things Parents of Teens Should Know About Auto Insurance
1. When You Should Add Them to Your Policy
Some insurance companies require parents to add teen drivers as soon as they get their permit, while others allow you to wait until they’re fully licensed. If your teen is involved in an accident before they’re covered, your auto insurance company may deny the claim, so check your carrier’s policies before your teen takes the driver’s test.
2. Expect Your Premiums to Rise
Due to the higher risk of teen drivers, adding a teen driver may double or even triple your insurance premiums. However, each carrier calculates costs differently, so shop around and compare policies from several different insurers. An experienced agent can identify your needs and find a policy that offers the coverage you need at the best rates available.
3. Discounts Are Available
Fortunately, most auto insurance providers offer discounts that can substantially reduce the costs of covering your teen. In addition to good student discounts, you may get rate reductions for taking a driver safety course, driving less than 10,000 miles per year, or enrolling in a monitoring program through your insurer. These programs allow the insurance company to base insurance rates on your teen’s actual driving behavior instead of broad demographic factors.
If your teen will be getting behind the wheel soon, trust, Pooja Kuhn - State Farm® Insurance Agent, serving Ashtabula and Lake counties, to find the right coverage for your family. With a personal approach to insurance and policies backed by one of the industry’s leading carriers, you can be confident you and your child will be protected from whatever the road throws their way. To request a free auto insurance quote and schedule an appointment, call today at (440) 964-3276.