Having a new teenage driver on the road is enough to worry about. Motor vehicle crashes are not only the leading cause of teen deaths in the U.S., but a 2017 study by AAA Foundation for Traffic Safety also named millennials the worst behaved drivers on the road because of their likelihood to text, run red lights, and speed.1
As if those statistics aren't enough to have you on edge, you shouldn't have to be concerned about your insurance premiums doubling. The good news is there are things you and your teen can do to help keep those insurance costs down. And best of all, many of the tips can even make your teen a safer driver on the road. 1. Teach Them to Drive Safely
While this may seem like a given, it's the first place to start when talking about good rates on insurance. That's because nearly 70 percent of teens admit to bad driving habits like speeding, running red lights, and texting while driving.1
So if you can eliminate bad practices up front and have a responsible teen driver, you're half way there because fewer accidents and driving violations means lower premiums. A good way establish ground rules is with a Teen Driving Contract
. It will let you set specific driving rules and consequences that you and your teen both sign, so there's no question about what happens if your agreement is broken. 2. Insist Your Teen Do Well in School
Encourage your teen to keep up their grades because hard work could help you get a discount on your car insurance. Many insurance providers, including Liberty Mutual, reward teens who maintain good grades
by discounting their policies. 3. Sign Her Up for a Professional Driving Program
Consider sending your teen to a professional driving school where they can get instruction from the pros. Qualified driver training programs help keep teens safe and may earn you additional cost savings off your premiums when your teen finishes the program. Pro Tip:
Many employers, alumni associations, and professional organizations offer discounts on your insurance. to see what other discounts are available. 4. Make Sure Your Teen Drives a Safe Car
Distracted driving is a factor in nearly six out of 10 moderate-to-severe crashes involving teen drivers.3
Luckily, auto manufacturers offer a variety of safety features to help teens stay alert and aware of their surroundings on the road. These include blind spot monitoring, lane departure warning, anti-lock brakes and adaptive cruise control just to name a few. These safety improvements have been around for a while, so you don't have to buy new to find the right car for your teen
5. Raise Your Deductible
Raising your collision and comprehensive coverage deductibles will help you secure a lower premium and reduce your monthly payment. If you're teaching your teen good habits and reminding them to avoid distracting behaviors, you may never have to worry about the higher collision deductible. But even with the right training and a safe vehicle, accidents can and do happen. Teens are involved in more police-reported collisions and traffic violations than any other age group, so don't raise your deductible higher than you can afford to pay Pro Tip:
If you add your teen to your policy, be sure to ask about multi-car discounts
. Sometimes you can save more by adding them to your policy.
If your teen is going to drive, they must be insured, it’s the law. Adding a teen to your current policy brings a lot of risk that may leave you wondering if adding them is even the right choice. But in the long run, it will likely be cheaper for your teen to be added to your policy than to start a new one.