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Car Insurance for Teens: 5 Things You Need to Know

Teen driversTeens often face higher insurance rates than their parents. Still, families have options when it comes to insuring their new drivers. Take a look at our five must-know tips below.

1. Teens – generally – don’t need their own insurance policy. Parents can add teens to their insurance policy and save everyone some money. The exception to this rule? If a teen owns their own car, they need to have their own insurance policy. Most states, though, restrict auto ownership for teens and parents are usually co-signers at least.

2. Adding a teen to your insurance policy can make your rates skyrocket. New drivers are risky drivers in the eyes of insurance companies. Many times, insurers will offer discounts for teens with good grades or those who take additional driving education classes. Parents can save money, too, by paying a higher deductible.

3. Teens with learner’s permits don’t need to be listed on an insurance policy. It’s still a good idea to let your insurance agent know about the driver-in-training in your family. Since every company has slightly different policies, it’s best to check in with them about coverage for teens with learner’s permits.

4. Safe, reliable vehicles usually result in lower insurance premiums. If the sticker shock of adding your teen to your policy has caught you off guard, consider having them drive a safer, more reliable car. A model with a track record of safety and reliability can significantly lower your rates.

5. Parents can remove their teen from their policy once they are no longer considered dependents – but they don’t have to. It’s a good idea keep your teen on your policy until they are fully independent, with a solid, reliable income. Otherwise, your teen might be caught between a rock and a hard place if they can’t make payments.

Serpe Firm Personal Injury Lawyers

The Law Offices of Richard J. Serpe, PC has dealt with the insurance companies for over 30 years.  We will deal with the complicated legal and insurance issues so that you can focus on getting better.

Setup a consultation to discuss your rights. It’s free, and there is no obligation.