If your child has just gotten their driver’s license, they’re probably thrilled to experience the independence of driving — but not so fast. Getting affordable and robust auto insurance for a teen driver can be just as much of a journey as getting a license.
At Gunn-Mowery, we’ve put together these seven tips for insuring a teen driver to help you get your new driver on the road safely.
1. Add Your Child to Your Policy
Do not set up your teen driver with their own insurance policy. Adding them as a driver on your own and putting them down for the family’s most reliable car can help keep the costs down, especially if you have a good record yourself.
2. Increase Your Deductible
The more the insurance company has to pay in the event of a claim, the more you pay each month. The deductible is the amount you pay toward a claim before the insurer steps in. The higher your deductible, the lower your monthly costs.
3. Cover Some Claims Yourself
If you pay for minor fender benders yourself without asking insurance to cover the costs, you will keep your premiums lower. You may want to keep coverage for bigger-ticket claims you can’t handle yourself.
4. Look for Discounts
Some insurance companies offer a student discount if your child earns a specific GPA. Or, if your teen is moving to college 100 or more miles away from home and will not be taking your car, you could qualify for a discount since they’ll be driving the vehicle less.
5. Think About What Your Teen Will Be Driving
A sports car will be more expensive to insure when compared with a sturdier car. A used car is even better, especially if it’s already in the family. Before buying any vehicle for your teen, take a look at how much it costs to insure. You don’t want to find out after the fact that you could have saved hundreds of dollars a year just by selecting a different model.
6. Get Your Teen Into Driver’s Education Courses
Even if your state does not require it, driver’s education courses will help your teens by teaching them about safe driving. Not only does it help them avoid car accidents, but many insurers offer discounts for additional driver education, as well. Before investing in classes, ask your insurance company which classes give you the best discounts.
7. Consider a PLUP (Personal Liability Umbrella Policy)
Even if you have auto insurance for your teenager or have added your child to your policy, it’s a good idea to get extra coverage, such as PULP, which covers other costs in addition to what your plan includes. This way, if your teen is in an accident that leads to damages worth more than your policy limit, this coverage protects them — and you.
If you’ve enjoyed these tips for insuring teenage drivers and now need to secure some insurance, contact Gunn-Mowery. As a leading insurance agency, we can secure multiple quotes for car insurance for your teenager to help you find the right coverage fit at a competitive price. We can’t erase all your worry about your new driver heading off on their own, but we can help bring you some peace of mind in the form of robust insurance. That’s the Upside of Insurance with Gunn-Mowery.