Getting car insurance for a teen driver can be expensive, but it doesn’t have to break the bank. Insurance companies consider teen drivers to be high-risk due to their lack of experience and higher likelihood of accidents. However, there are several ways to lower costs while still ensuring your teen is adequately covered. Here’s how you can find affordable car insurance for your young driver.
Why Is Car Insurance Expensive for Teen Drivers?
Teen drivers face some of the highest insurance rates because they are statistically more likely to be involved in accidents. According to the Insurance Institute for Highway Safety (IIHS), drivers aged 16–19 are nearly three times more likely to be in a fatal crash than those 20 and older. Insurers factor in this increased risk when calculating premiums.
Add Your Teen to an Existing Policy
Instead of getting a separate policy for your teen, consider adding them to your existing family auto insurance. This is usually much cheaper than purchasing a standalone policy.
Encourage Good Grades
Many insurance companies offer a "good student discount" for teens who maintain a B average or higher. This can lead to significant savings, as insurers believe responsible students are less likely to engage in risky driving behavior.
Choose the Right Car
The type of car your teen drives impacts the cost of insurance. High-performance or luxury vehicles typically come with higher premiums. Instead, opt for a safe, reliable car with good crash-test ratings and advanced safety features.
Final Thoughts
While insuring a teen driver can be costly, there are plenty of strategies to help reduce premiums. By taking advantage of discounts, choosing the right vehicle, and encouraging safe driving habits, you can find affordable coverage without sacrificing protection. Regularly reviewing your policy and comparing rates ensures you’re getting the best deal as your teen gains more driving experience.