Many parents are wondering how they can find cheap auto insurance for a teen driver when the younger members of the household are old enough to get their license. Coverage for new drivers cannot readily be described as “cheap,” but there are ways to get insurance in place for all the drivers in the household without spending more than is necessary.
Auto Insurance for Teens
Teen drivers are considered to be a high risk for auto insurance coverage purposes. People in this age group lack the maturity and experience of someone who has been licensed for a number of years and are more likely to be involved in accidents. Insurance companies evaluate a young driver’s level of risk and charge more for premiums accordingly. (The good news for recently-licensed drivers is that by the time they reach their mid-twenties, their coverage costs should start to come down.)
Find Cheap Auto Insurance for a Teen Driver
If the goal is to keep coverage costs down, a parent should not be looking at buying a separate auto insurance policy for a teen driver. Adding a young person to an existing policy as an occasional driver is a much better way to go, since the cost of coverage will not be as high as if the teen was made the primary driver on his or her own policy. The teen can be added to an existing policy held by a parent, grandparent, guardian or older sibling.
Auto insurance is something which should be reviewed regularly so that the policyholder has the right type and level of protection in place. Ideally, all drivers will make a point of doing this at least once a year or when there is a change in circumstances (such as when a teen gets his or her learner’s permit or driver’s license).
The parent or the main policyholder will want to find out whether his or her existing auto insurance policy is able to provide the best prices for a policy which includes all the licensed drivers in the household by getting quotes for coverage from a number of auto insurance providers. Each one sets its own prices for coverage, and the cost can vary significantly between companies.
Consumers who go online to look for auto insurance coverage can learn about the different companies which write these types of policies to make sure that they are getting pricing information from ones which have been in business for some time and have the means to pay out on policyholders’ claims. Once a driver finds a company which looks as if it may be a good fit, he or she can get an online quote for coverage by filling out an online form.
It may take a bit of time to find cheap auto insurance for a teen driver, but the effort will be worthwhile if a parent is able to find affordable protection for all drivers in the household.