Congratulations to your teenager! They have finally hit the important life milestone to start driving. Although this may be an emotionally exciting time for parents, it is also time to think about adding your teen to your auto policy. Afterall, their safety behind the wheel is a top priority!
Insuring your teen driver is extremely important, especially in the early years of their driving. This timeframe is when your teen may be most likely to be involved in a car accident. When adding your teen to your auto policy, it is important to keep in mind that your auto premiums will increase. The premium increase is still going to be more affordable than making your teen have their own auto policy.
For this exciting time in you and your teens life, we have put together some tips on how to keep your premium increase to a low.
The first thing to consider when adding your teen to your auto policy is the type of vehicle they will be driving. The newer the car is, the more expensive the policy may be. Consider passing down a vehicle that you may already be driving.
You can also look into used cars. Not only will the policy premium be less, but the amount to purchase the vehicle will be less than a brand new car.
Once you have decided what vehicle your teen will be driving, it is time to explain your safety expectations. This will include rules like no texting behind the wheel, or only operating your mobile device in a hands-free manner. The more clearly you are able to communicate with your teen about the dangers of distractions while driving, the more likely they will be to follow.
It is important to remember that your teen will follow your driving habits. If you are texting behind the wheel or using your mobile device in an unsafe way, your child is more likely to do the same.
In addition to establishing your teens safety expectations, it is time to register your teenager in a Safe Driving Course. The course will provide your teen with a trained instructor. Together, they will spend the state-required amount of hours behind the wheel, where your teen will learn the rules of the road.
Depending on your teens level, you can purchase additional practice hours. The more driving practice your teen has, the more comfortable insurance carriers will feel about insuring your teen driver. This can help lower your initial premium when adding them to your policy.
Now, it is finally time to reach out to your insurance company. When speaking with your insurance agent, they will discuss all of the coverage and pricing options to add your teen to your policy. Be sure to ask your agent if your teen qualifies for a Good Student discount, or a Low Mileage discount. If they qualify, this will automatically lower your premium.
If they do not qualify, you may want to consider raising your collision deductible. Increasing your collision deductible means that you are agreeing to pay more out of pocket if an accident happens, and the insurance company will cover the rest. This will lower the premium, but again, please keep in mind that if an accident happens, you will have to pay more out of pocket.
These steps might not be the best for every family looking to add their teen. If you feel like your situation does not align with these steps, you can always consider having your teen wait an extra year before learning to drive. This might not be your teens favorite option, but waiting an additional year will ensure that your premium is lower.
Are you ready to add your teen to your auto policy? Give us a call at (303) 279-9700 and we can help walk you through the steps and discuss multiple coverage options. You can also fill out the form below and one of our Personal Lines agents will reach out to you.