Q: My teenager just started driving - should I add him to my policy? How can I keep costs down?
A: Your best bet would be to add him to your policy. By stating upfront that you would like to add a teen driver, you can take advantage of a multi-car discount that your insurance company can offer - which will be cheaper than having your teen try to get a policy of their own.
We all know that teenagers are the most accident-prone drivers, due to their lack of experience on the road. Seeing as they are statistically more likely to get into accidents, insurance companies can raise your rates significantly to cover the risk they take when insuring your son.
There are ways to reduce the pain of adding a teen driver, however. First, make sure that you purchase an older, safer car for your son to drive - it will cost less to repair in the event of an accident. And I don't mean old as in vintage, but a car that's six to eight years old, with safety features like airbags - is a good choice.
Encourage your son to get good grades in school, as many companies offer discounts for good students. Check through your auto insurance company to see if there are any additional driving classes or courses your teen can take - some programs can noticeably slash your rates.
Be sure to set a good example for safe driving. The longer your teen goes without causing an accident, the lower the insurance premiums will be. And finally, if your son is going away to college without a car, be sure to let your insurance company know! If your son's not around to drive the car, the policy should reflect him as an "occasional" driver, which can lower your rates even more.
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About the Author:
Robert Da Silva is an independent agent in Sana Rosa, California.
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