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Teen Driving and Insurance |
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Written by Jeff Mathes
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Having a teen driver creates all sorts of new issues for a parent. Suddenly, you have to set new rules and determine how you are going to regulate your child. Your son or daughter, on the other hand, is considering the fact that they are now in the proverbial “driver’s seat” and in control of their life.
My teenager thinks that this is going to open up new doors and give them the much desired freedom. However, as a parent, you need to set up parameters early to keep your child safe and keep your insurance costs down.
I have discovered that some auto insurer’s offer special discounts to the parent’s of teen drivers. The first one that comes to mind is one for good grades. What an incentive to stay on your child’s back about grades! There are also possible discounts if your teen completes a safe driving course and provides proof to the insurance agent. My insurance company also offers discounts to help us out, if my spouse and I go back for additional safety training.
That five to ten percent discount does not necessarily seem like a lot at first glance, but when you are looking at a huge increase in your premium just for a teen driver, it can make a large difference over the long term. Over time, that premium will start to decrease on its own as well, assuming that your teen continues to drive smart by not getting any tickets or damaging any vehicles (or other property for that matter).
Work with your teen to set appropriate expectations early. You don’t want to see your family’s fortune disappear thanks to the high cost of having a teen driver.
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