For most teens, getting their driver’s license is a crucial milestone, but you may not be quite as excited, especially when it’s time to add your child to your auto insurance policy. Because they’re more likely to cause an accident, having a teen driver in the house can sometimes double your rates. Fortunately, there are some steps you can take to cut your costs while ensuring they have the protection they need on the road.

How to Lower the Cost of Insuring a Teen Driver

1. Ask About Discounts

Most insurance companies offer discounts that can dramatically lower your teen’s premiums. They can often get a rate reduction by completing a safe driver course or making the honor roll or dean’s list. You may also qualify for lower rates by bundling your auto policy with your home or renter’s insurance.

2. Get Them Their Own Car

If you drive a new, more expensive car, getting your teen an older vehicle of their own will likely bring your rates down. In general, older cars are cheaper to insure because they’re cheaper to repair than new, faster vehicles.

If the car is old enough, you may even be able to go without collision or full coverage insurance, bringing the costs down even further.

3. Take Advantage of Distant Student Policies

If your teen is heading off to college, your insurance company may lower your rates if they’re going at least 100 miles away. However, bear in mind that they will need to be added to the policy if they’re going to be driving your car on visits back home.

Since 1962, Barry Insurance has helped residents of Texarkana, TX, get the coverage their teen drivers need at the best prices possible. Their independent agents write policies for a wide range of industry-leading carriers and offer an extensive range of options. Visit their website for more on their auto insurance services or call (903) 831-3493 to request a free quote.