Have you made that first trip to the DMV with your new 16-year old? Earning a driver’s license is a teenage rite of passage, but can be stressful – not to mention expensive – for parents. Your child will need auto insurance coverage as soon as they receive their license. A few important tips on teen driver insurance:
Determine Whether to Add your Child to your Policy or Purchase a Separate Policy
- Check with your insurer to see how your premiums may be affected. Expect that they could rise dramatically; however, savings may be found through multi-vehicle and good student discounts.
- If your child is driving an “old beater” that doesn’t require comprehensive or collision coverage, a separate policy, in limited instances, may save you money.
- Discuss your options with your insurance agent.
Consider Your Teen Driver Coverage Choices
- Most personal auto policies won’t cover a driver transporting goods or services in exchange for a wage. So, if your teen is planning on becoming a pizza delivery driver, for example, contact your insurance agent to determine if additional coverage is needed.
Find Ways to Save Money
- Consider vehicles with high safety ratings over sportier, more-expensive cars.
- Think about raising your policy’s deductibles.
- Reassess your need for collision or comprehensive coverage.
- Ask about “occasional” or “pleasure only” discounts, which may apply to children away at school.
- Explore usage-based insurance, which involves installing a device in the vehicle that monitors driving behavior and rewards good driving. It’s also a way to keep tabs on your teen’s driving.
- Have your teen complete a driver’s education course. Several blogs offer great teen driver insurance tips, driver safety and options for local courses near you: https://blog.firsttimedriver.com/blog/essential-safe-driving-tips-for-teens/
We can’t keep your teenager from having a fender-bender (and trust us.. they will!) but we can ensure your policy has you covered. Call us to review your current plan or let’s talk about auto insurance today! https://geteversure.com/personal-insurance/auto-insurance/