Teen Auto Insurance Tips

Can you afford a teen driver?

Ann and I raised 4 boys. We delayed getting their driver’s licenses until they turned 17. Was it popular? No, but it taught them patience, contentment, and responsibility. Crashes are higher among teenagers than any other age group. Many nations don’t allow teens to drive until 18. There’s also a financial consideration. It’s usually cheaper to add a teenager to a parent’s insurance policy. The average premium will increase by 70% to 150%! Thankfully there are ways you can save money with discounts for good students, good drivers, and low-mileage programs. You must proactively research and probe your insurance company about ways to reduce the cost.

There are additional ways to save money on auto insurance. The right car is key. Rather than adding a new car, try adding your teen as a secondary driver on existing vehicles. Safety features on a family sedan, minivan, or a small SUV will typically provide the best rates for teenagers. However, if another car is necessary, avoid sports cars or high-powered vehicles to prevent higher rates. A driver training course will also reduce costs and grant peace of mind when your teen drives off for the first time. Some companies offer personalized insurance rates if you or your teen have a device installed to monitor their driving. The better you drive, the more you can save. Seek wisdom before putting your teen behind the wheel.

Auto insurance plus credit card debt is hard, but there’s hope. Let our friends at Christian Credit Counselors help. They’ll create a debt management plan just for you. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.