It’s always a difficult time for parents when their teens begin to drive, especially since car accidents are the leading cause of teen deaths in the U.S. To further add to this stressful time, many parents assume that adding a teen driver onto their auto insurance policy will be very expensive. While this is true in many cases, it doesn’t necessarily have to be this way.
Yes, every insurance company will charge higher premiums for teenage drivers, due to their limited experience and greater chance of getting in an accident. However, it is possible to save money while insuring your teen driver. If you are worried about adding your teen driver to your current auto insurance policy, you should consider your options with teen driver insurance.
Teen driver insurance plans are specifically designed to take into consideration the excess risks and costs of a teen driver, while trying to offer limits, discounts, and other features that benefit your family. This type of policy includes typical coverage, however there are some differences. For example, a teen driver insurance policy can help your family save money insuring your teen driver while simultaneously adding other safety features to your policy and vehicle.
Some benefits include:
- Discounts for limited-use vehicles, such as if the teen will only be using the vehicle for a certain and limited amount of time
- Good student record discount
- Good driving record discount
- Anti-theft devices discount
- Help installing a GPS in the teen’s vehicle that can alert you of their speed, geographic location, and can restrict time limits on driving
Teen drivers don’t necessarily have to cost a fortune for your family to insure. However, unless you learn more about your different options, you may be paying more than you have to while actually receiving fewer benefits for your family.