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Overview
Car Insurance Estimates for TeensInsurance estimates for teens tend to be higher because they don't have a driving history. Even though they may not be reckless drivers, they don't have a lot of experience driving. Teen drivers are three times more likely to be involved in a crash per mile than senior citizens. Even though the insurance premium may go up by putting a teenage driver on the policy, there are ways to keep that increase to a minimum.
Vehicles
The type of vehicle a teen drives will impact the cost of insurance. Insurance companies like to see teenagers driving older, safer models. They are usually heavier and less likely to be recklessly driven. They are also less likely to be stolen. Although it will not be a teen driving fantasy, it will help to reduce the impact of high insurance costs. Shop around for cars with a high safety rating.
Discounts
Some insurance companies offer a discount for teens who maintain good grades. Teens who earn a B average or higher can qualify for a discount on insurance, sometimes as high as 25%. Also, teens who have taken professional driving instructions given by a qualified instructor may be eligible to receive a discount on their insurance.
Policies
It is often cheaper to list a teen on his parents' insurance policy. Some insurance companies will only allow a teen to be added to his parent's policy. Also listing them as an occasional driver will help reduce insurance costs. Shop around for the best quotes that will include a teen driver. Insurance rate quotes can sometimes vary quite a bit between competing insurance companies.
Misconceptions
While there are many factors that will affect the cost of insurance for a teen, the color of the car is not one of them. Many drivers believe that certain colors, such as red, will increase the insurance rates. This is not true. Insurance companies do not factor in the color of the car when determining rates.
Considerations
Teen drivers and parents both can help keep insurance costs low by always driving safely. For teens, always wearing a seat belt, driving safely, not using a cellphone while driving and following the laws of the road will help keep insurance costs from rising even more. Parents can help by limiting driving times and areas and enforcing rules such as cellphone usage while driving and curfew can also help keep teens safe and keep insurance rates low.
