Car insurance for young drivers is expensive, as you'll see in the table below, but you can still save by putting the teen on your policy rather than getting him or her their own coverage, and by garnering all the discounts you can for young drivers. See our detailed rate analysis by age for teen drivers, which shows pricing for adding a teen to a policy compared to the teen having his or her own, and broken down by state:. Our parent guide to insuring a teen provides more detail, but here we'll offer the must-know steps to take for keeping teen driver rates as low as possible.
Sticker shock often follows the passing of that exam when the first insurance premium arrives in the mailbox. This blog discusses why teens pay more in insurance premiums than others. Teen drivers, and anyone who is getting their driving privileges for the first time, are statistically more likely to be involved in auto accidentsget traffic tickets and drive while distracted than those with more experience.
By Insure. Handing your child the car keys for the first time is bound to be exciting — and scary. For your teen, driving invites a thrilling move toward independence and freedom, but also comes with the tremendous responsibility of getting behind the wheel of a machine that can cause a lot of damage if not driven carefully and appropriately.
You'll be covered if your teen drives your car and vice versa. All covered drivers have access to all vehicles on the policy. The expense of insuring a young driver can be offset by a multi car discount if your teenager has their own vehicle.
So you've got your new driver's license and, as you're probably aware, it's illegal to hit the streets without auto insurance. You probably also know that insurance rates are based on how likely you are statistically to get into a crash. Unfortunately, as a first-time driver, the numbers aren't on your side.
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Adding a teenage driver to the family car insurance policy can double annual premiums, according to a new study—a costly fact of life that reflects the higher risk for younger drivers. Studies show that drivers under the age of 20 are three times more likely to be involved in a fatal crash, according to the Insurance Institute for Highway Safety. And recent data finds the death rate actually increasing after a decade of decline.
According to the National Safety Council, inexperience is the leading cause of teen car crashes. Most parents have college on the brain when they encourage their kids to make good grades in school. Dave never recommends buying a brand-new car because the value drops as soon as you drive it off the lot.
If you're wondering why teens pay more for auto insurance, the truth is in most cases they don't. Their parents do. Seriously though, when you compare car insuranceyou'll find teen drivers usually mean higher premiums—regardless of who pays.