Getting a driver’s license is an exciting time for a teenager and a stressful time for a parent! The cost to add a young, inexperienced driver to your policy can be great, and it’s different for everyone. It depends on the driving history of the people already listed on the policy, the number of cars that are listed, and the kind of coverage that’s carried.
The best way to save money is to be proactive and take advantage of as many savings as possible. Most companies offer a good student discount for grade point averages of 3.0 or higher. This is an excellent incentive for teens to earn the privilege of driving! There are also discounts for taking extended safe-driving classes that go above and beyond state-mandated classes.
It’s also a good idea to hold off on that new car for your teen driver. The cost of the policy will be much lower if they’re listed as an occasional driver, meaning that the car is assigned to another driver full-time. This can only happen when there are fewer cars than drivers on a policy. After a few years of good driving, they can get a new car and pay lower insurance rates.
For more information on the cost of car insurance for teenagers, check out this article: https://getjerry.com/advice/how-much-is-car-insurance-for-teens-by-cheryl-knight.