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Teenage Drivers...Insurance?

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What are you guys seeing for rates on your 16 year old drivers?? On your policy or do they have their own policy? What kind of car, and does the car effect rates extremely? 

I’m about to have one and drifting into these waters. Want to mentally and emotionally prepare myself, LOL

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There are many variables that go into the insurance premiums, location and vehicle are first two followed by accidents and tickets and good grades   You can't do much to control your location, but everything else is in your power to have an effect on.

 

1. If you are a Veteran, contact USAA if it is offered in your state, that alone will generally make a big difference.

2. Teen drivers are rated for the most expensive vehicle they will drive, if it is Dad's Red Mustang Convertible, you won't be happy - I have the quote to prove that part.

3. Consider purchasing a car just for the teen.   For both my girls, they got a well used first vehicle with an incentive to drive carefully.  The cars had very good Liability insurance on them, no comp or collision. My promise to the girls was if they didn't have any accidents or tickets in their first year after getting their license they would get something better.   I'm not sure I really made it out financially, but they both became safe drivers.

4. The car you get them should be the one the learn in, take to driving school and take their drivers tests on.

5. Added benefit, it gives you another vehicle to detail and in both cases, I sold the vehicles for more than we paid for them.

6. Most insurance companies give Good Student Discounts, usually between 5% and 15%.  Thankfully, mine were both top students.

 

It was a few years ago, but we paid less than $100 every six months for them to have their own vehicle under our insurance.  If we of licensed them on the any of our vehicles, it would have been in the $500 range per six months. 

 

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PA.  Our daughter had to go on our insurance. She had to settle for the old Ford Bronco that we had as a second car, and she had rules and limits. It wasn't HER car.  She was NOT under any circumstances allowed to drive any of her friends around in it.  She worked in the summer and put gas in it occasionally, but 90% of the time, we paid for the gas, and always for the insurance.  And she took driver's ed in school which helped with the insurance rate.  We were lucky.  She only had one accident (car stalled and drifted backwards into another guy) but we paid for it out of pocket.

Don't go into hock thinking your kid has to have a new, or nice car.  They're not that responsible at 16 to take care of it.  And you'll drive yourself insane seeing sodas spilled, school papers all over the inside, etc.  And her driving our old car helped keep the rates down.  Not saying she didn't want a better set of wheels (we live in a fairly upper class school district), but we just told her it was the Bronco or nothing.  She still rode the school bus, and only took the truck for band practice, or for competition nights, and once in a blue moon to just go to a friend's house to hang out.  She didn't even have a car to take to college.  We were pretty strict by today's standards.

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