What Parents of New Drivers Really Need to Know About Their Auto Insurance
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For parents, handing the car keys over to their newly licensed teenager is intimidating, but sliding into the passenger seat and letting them take the wheel while driving with a learner’s permit isn’t much better! Teaching your child to drive is your responsibility, but protecting your financial assets (and your car!) during that learning process is up to your auto insurance. Is it ready for the challenge?
The same day your new driver passes their written exam, call your insurance company and make sure they’re added on to your insurance policy. This might sound like a huge hassle, but relax. Auto insurance companies work with new drivers every day of the week, and they know exaclty what they need to do to make the process as simple and painless as possible. All you have to do is pick up the phone. The friendly, helpful representative on the other end will take care of the rest!
Their insurance is going to cost consistently more than yours, for the simple fact that young drivers (even those with their parents in the car) are 60% more likely to have an accident than their more experienced counterparts. You can help curb some of the impact they’re going to have on your auto insurance rates by insuring them on only one vehicle (you can always change this later if you need to), encouraging them to get good grades and ensuring that they remain diligent while they’re out on the roads.
It’s tempting to only put liability insurance on any vehicle your soon-to-be-newly-licensed-driver is going to be cruising around town in to try and keep costs down, but consider this decision carefully. If they’re in an accident you’re going to have absolutely no resources to replace or repair your vehicle, which probably isn’t a position either one of you particularly wants to be in. Flipping burgers part time through high school doesn’t pay enough to tackle the cost of repairs from most repair shops these days, and you certainly don’t want to be the one footing the bill.
Your auto insurance is going to cover your teen regardless of which part of the United States they happen to be driving in, but it’s a good idea to keep in mind the fact that not every state has the same minimum driving age. You can save yourself entire world’s worth of aggravation and hassle from local law enforcement by keeping your teen out from behind the wheel if they’re too young to drive out of state.
Watching your child grow is one of the most thrilling opportunities any parent can have, and by making sure you and your auto insurance are ready for it you can make teaching your teen to drive one of the most precious, thrilling and hair raising memories either one of you will ever have.
Good luck!
Anthony M. Peck is the Senior Developer for QuoteScout.com. To find out more about auto insurance for your teen, check them out at http://www.QuoteScout.com.
