Adding a teenager to a car insurance policy is costly. If done correctly, however, there are ways to reduce those costs. Here are 5 ways to find the best car insurance for teens.
Having a teen who can drive is a big adjustment. There’s helping them learn to drive and the worrying when they are on the road.
And then there’s the rise in auto insurance rates, which you’ll notice immediately.It’s no secret that teen drivers are pricey to insure. Research from AAA shows that teen drivers are three times more likely than adults to be involved in a fatal crash. Insurance companies know that teens are riskier to insure than older drivers.
The good news is that there are some steps you can take to keep rates under control.
The Basics of Buying Car Insurance for Your Teen
Every driver is required to be covered by a car insurance policy. A teen won’t automatically be covered under your policy just because they are a dependent. You have to add them to your policy.
It’s going to be cheaper in almost every case to add a teenager to your existing policy than it would be to purchase a separate policy. However, you’ll still want to do a little bit of research.
The first step is reaching out to your current insurance company or agent. It may be a good idea to reach out as soon as your teen gets a permit. You may not be required to add them to your policy until they have their license, but this varies from one insurance company to another.
Here are the steps to take to make sure your teenager has insurance waiting as soon as a driver’s license is issued:
- Get a quote from your insurance company for adding your child to your existing policy
- Get a quote from at least one other agency to see if you could get a better rate than what you’d pay with your current company
- Add your teen to your policy once a driver’s license has been issued (or…
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