Car Insurance Information For Parents Of Teen Drivers
Many parents struggle with the fact that their 16 year old children will become drivers. It is crucial for parents to be as educated as possible about car insurance requirements for teen drivers. The first thing that many parents ask is when they need to add their child to their car insurance policy.
The answer to this question is to review your auto insurance policy and then speak to a customer service agent for advice. Some parents decide to add their teen to their insurance policy as soon as he or she has received their learner’s permit while others decide to wait until the day that the teen has gotten his or her driver’s license.
Each car insurance company and state has different guidelines in place so your car insurance agent will be able to help you find out what the rules are so that your teen driver is properly insured. If you have to add your child as soon as he or she gets a learners permit then you may want to wait to allow them to begin to learn to drive until age 16 or 18. Many parents find the increase in their car insurance premiums to be a burden so being able to prepare for this expense in advance is a good idea.
Some parents decide to make their teen driver help foot the bill. This is a great way to make the teen more responsible and help lessen the penny pinching. If a teen can stay accident and ticket free for three years then they may qualify for a good driver discount. This usually saves parents 15% to 20% off of their insurance premiums which can be a huge help in today’s economy.
It is more cost effective to allow your teen driver to be added to your existing car insurance policy than let them go it alone and get their own policy. This is because most parents have good driving records which reduce the overall risk that is being assessed. Most parents will see their premium rates increase by between 200 to 400 percent. This can be a very harsh reality to have to face but teens with no driving record alone will pay even more than that to become insured even with basic liability insurance coverage alone.
Parents need to consider driving with their teens all the time until they are added to a car insurance policy. Some teens have taken vehicles while on a learners permit and have caused accidents. In some cases, these damages were not paid for by insurance companies so it pays to be as cautious as possible.