Wondering how to keep insurance costs low for your teen driver? It’s time for you to read up on our list of do’s and don’ts for insuring young drivers
Your teenager spent hours studying the rules of the road to ace her driving test. Now that she has her permit, you spend a lot of time in the passenger seat pressing an imaginary brake pedal and hoping that she’ll be safe on the road.
While we can’t make driving lessons less stressful, following these do’s and don’ts will make it easier to find the right insurance policy for your teen driver.
Do: Research Required Coverage
Each state has minimum requirements for the amount of insurance required for all drivers. In addition to required coverage for bodily injury liability and property damage liability, talk to your insurance agent about the pros and cons of adding extra coverage such as collision, personal injury protection and uninsured motorist coverage.
Do: Teach Teens About the Impact of Their Driving Behavior on Insurance Rates
Your teen needs to understand how a speeding ticket or citation for texting and driving affects car insurance premiums and causing an accident will lead to out-of-pocket expenses for deductibles.
Do: Consider a Driving Contract
Creating a contract with your teen driver is a great way to establish safe driving rules and expectations for seatbelt use, safe vehicle operation and never drinking and driving.
Farm Bureau’s Young Driver Safety program has a safe driver pledge, with a bonus discount for new drivers under 25 who complete it.
Don’t: Wait to Shop for Insurance
Your teen needs to be insured as soon as she gets her license. (Most states don’t require drivers with learner’s permits to have their own coverage). Before letting your teen drive home from the DMV, make sure to call your insurance company to ensure she’s covered.
Don’t: Assume Teen Drivers Need Their Own Policies
It’s possible to purchase an individual insurance policy for your teens, but it might be less expensive to add them to your existing policy. Adding a teen to your insurance will increase your premiums.
Don’t: Let Coverage Lapse
It might be tempting to remove your teen from your insurance policy while she is at college but this can cause a lapse in her coverage, which could make her rates higher when she shops for a new policy. You’ll also want her to be covered to drive the car during weekend visits home and summer vacations.
Don’t: Overlook Discounts
Search out good driver rewards and other discounts that can help lower premiums. Insurers may offer discounts for good grades or driver education classes, like the Driven to Safety discount, which can save you up to 30 percent!
Following these do’s and don’ts will ensure that you have the right insurance coverage to protect your young driver. Any questions? Just ask your Farm Bureau agent.