Teen Guide To Car Insurance
Do Teens Need Their Own Insurance Policy?
NOTE: Some teens own their own cars; in these cases, usually they have their own car insurance policies. However, most states have strict rules on teens owning property (such as vehicles), meaning parents have to at least co-sign for the property. If this is your case, talk with your state’s motor vehicle agency about state policies for teens to own vehicles outright.
Will Insuring a Teen Driver Raise Parents’ Rates?
Tips to Save Money On Teen Car Insurance
- Getgood grades.
- Enroll indriver’s education.
- Take an additionaldriver training course.
- Avoid pushing for a fancy ride.
- Pay ahigher deductible.
NOTE: Lots of companies offer good driver discounts. Because you’re young and just starting out, you haven’t had much time to prove yourself as a good driver (most companies require consecutive years of accident-free driving before a driver can qualify for this discount). However, that doesn’t mean you shouldn’t be aware of potential savings. Spending the first several behind-the-wheel years driving safely will help you get cheap car insurance in the future.
- Ask aboutmultiple-vehicle auto insurance discounts.
- Buy (or encourage your teen to purchase) asensible vehicle.
- Consider increasing your deductible.
- Think twice aboutcollision and comprehensive coverage.
- Find out if you can include your teen driver on your policy as an “occasional” or “pleasure-use only” driver.
For example, do you purchase both home and car insurance from the same company? Have you been a loyal customer who’s renewed his policy on time for many years? Have you been accident-free for a significant amount of time, enrolled in a driver safety course, or opted to pay your annual premiums in full? Any of these factors can get you a discount.
Teen Drivers with Learner’s Permits
However, it’s crucial to notify your insurance agent when your teen driver gets a learner’s permit. Every provider has its own coverage requirements, and that includes how the company handles drivers with learner’s permits.