Common Concerns When Insuring A Teen Driver
Raising a teen is a challenge. For many parents, this also means lots of questions. Unfortunately, when it comes to car insurance, the list of questions will only grow. Getting your teen insured doesn't have to be a complicated process if you know what you're doing.
When To Insure
Don't wait until you purchase your teen driver a vehicle to cover them. Most laws require that any driver in the home be covered under an insurance policy. As soon as your child gets their driver's license, it's time to speak with your insurance company about your policy, even if they aren't regularly using your vehicle. It's important to note that drivers with a learner's permit typically aren't required to be covered.
Separate Policy vs. Family Policy
Do you have to add your teen to your policy or can they have their own? The answer to this question is simply about personal preference. There are a number of circumstances that make either option a better choice in certain households. For example, if your teen has started early with a poor driving record and they are solely responsible for their insurance premium, it might make more sense to let them have a separate policy so that your rate isn't affected.
Keeping Costs Lower
Teen driver's lack of experience inherently makes them a greater risk, resulting in higher rates. However, there are things you can do to keep their rates lower. First, keep up the good grades. Many providers will offer a good student discount to teens who maintain a certain GPA. You can also invest in a driver safety course, such as defensive driving. Individuals who successfully complete these programs are thought to be equipped with safe driving tips that lower their accident risk and their insurance rates.
Hiding A Teen Driver
As previously stated, all licensed drivers need to be insured. Don't try to hide your teen driver. For example, say your teen is only allowed to drive to school, which is only a mile away. While it would seem that the chance of something happening is slim to none, this isn't how reality works. In the event of even a minor incident, not only could the vehicle and any damage not be covered, but your teen could also be faced with penalties for not being insured.
When it's time to cover your teen driver, it's best to speak with your insurance agent. An agent like D A Insurance Brokers can help you determine which coverage options are best and ensure everyone is protected.
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