Teen Drivers and Insurance

 

Is A Teen Driver Making You Insurance Go Way Up?

Remember your first car? Remember your first drive after getting your license? Summertime, my dad’s blazer, windows down and music turned up, on my way to the skate park to show off my brand new license to all my friends! Now, I think back and wonder… Was I added to my parents insurance? Who was my family’s insurance carrier? Was the car I was driving covered? My response… Uhhhhh…???!!!

As parents, when we put 16 year olds behind the wheel of our vehicles, our hearts are pounding with excitement because we no longer have to drive them around and nerves because they are driving themselves around! This often brings on a strong desire to talk with an insurance agent. Let us help!

Adding a young driver to your policy, no matter the company, vehicle, or policy is going to increase your rates. Young drivers are much more prone to getting distracted by music, cell phones, etc., also more prone to accidents or tickets. Many insurance companies have realized the strong need to address teen drivers & teen driving activity in regards to the teen’s parent’s insurance policy. A few insurance companies have now put new programs into place that will help lower the rate increase and provide additional education for your teen driver in a fun and memorable way.

TeenSMART is a program designed to address teen’s VISUAL SEARCH, HAZARD DETECTION, SPEED ADJUSTMENT, SPACE MANAGEMENT, RISK PERCEPTION and LIFESTYLE ISSUES in relation to driving. Those are all specific factors that cause more than 90% of all teen accidents!! TeenSMART has said that teens who complete the program have up to 30% less accidents and claims! Not only does the TeenSMART program offer further education for your young drivers but upon completion offers a significant discount. The discount is applied the date the course is completed and will stay with the policy until the young driver turns 21. That means, if your teen gets their drivers license when they are 16 and completes the TeenSMART program, your auto policy will have a built in discount for the next 5 years!!  Not all insurance companies use TeenSMART, but they may have similar options!

A few other options for reducing the premium impact of a teen driver are:

  • Good Student Discount (typically offered with a GPA of 3.0 or higher)
  • Not buying your teen a vehicle that needs full coverage
  • Driver’s Training Courses (many companies offer a discount for the completion of drivers education courses)

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