Auto Insurance for Teen Drivers
Auto Insurance for Teen Drivers Because they present more of a risk, auto insurance rates are generally higher for teenage drivers. However, there are some ways you can both protect yourself financially and lower the cost of insuring your teen by doing the following: Understand the Risk It is important to talk to your teen about the relationship between auto accidents and insurance costs. Teens often forget that the cost of owning a car includes auto insurance. Explain that a driving infraction or being in an accident can drive up their insurance costs. Shop Around Insurance companies differ in how they price policies for young drivers, so spend some time researching prices to find the best fit for you and your teen. Insure Your Teen on Your Own Policy It is generally less expensive for parents to add teenager to their insurance policy than for teens to purchase their own. By insuring your teenager’s car with your insurance company, you ...