You may not be prepared to see it happen, but, eventually, there is a good chance that your teen will be ready to take the wheel as a new driver. When your teen driver gets their license, one of the primary concerns will be keeping them safe, but this occasion can bring about other concerns where your car insurance policy is concerned. Here is a closer look at a few of the most common things parents of teen drivers want to know about their car insurance and the answers you will want to know.
Do you need to add your teen to your policy as soon as they get their learner's permit?
Yes. In fact, some insurance companies will want you to list anyone of driving age on your policy, whether or not they actually drive, just for informational purposes. As soon as your excited teen gets their learner's permit, it is best to go ahead and let the insurance company know.
Will your insurance premium go up when you add a teen with a permit?
Ultimately, this will depend on your insurance company and their guidelines. In some cases, you will see a slight elevation when you add a permit-holding teen to your policy. However, you probably will not see a drastic rate change until they actually get their driver's license. This is because, with a permit, the teen is still driving directly under your supervision and probably will not be driving a great deal of time.
Should you beef up your insurance policy a little when your teen starts to drive?
This is totally your choice, but it can be a good idea if you currently only carry the state minimums in insurance. You might want to consider adding extra collision coverage or comprehensive because of the higher risk of your new driver causing an accident simply due to lack of experience.
Is there any way to keep your premium low with a newly licensed driver on the policy?
There are a few discounts you should check into if you add a teen driver to your car insurance policy which could help you save. For example, good student discounts can reduce your premium a little if you can prove your child has good grades. You may also get a multi-car discount if you buy your teen driver a new vehicle and add it to the insurance policy.
For more information about what to expect when adding a teen to your insurance policy, check out http://www.martininsurancecompany.com.