Teens: When to Add to Your Policy
Everyone knows that one of the most stressful times in any parents life comes with their child getting their drivers license. There are so many worries and fears running through their minds that choosing the right car insurance can get pushed to the end of their to do list.
Adding a driver onto your car insurance will always make the premiums go up. Adding a driver between the ages of 16 and 24 will cause those rates to go up even more. Taking the time to learn the important factors of insurance for teenager drivers and figuring out the best time to add them to a policy can help keep the stress level low.
Many families choose to put off adding their teen to their policies for as long as they can possibly get away with.
Each state has different rules regarding when a teenager needs to be added to an insurance plan. Teenagers are given a drivers learning permit, before the actual license. In some states, the teenager is required to be listed on the insurance as soon as they receive this permit and are intending to practice driving in the vehicle. Other states require that the teenager be listed upon being awarded their actual license. Talking to your insurance carrier about your states specific will ensure that you have all the proper information and that you are operating within the law.
Not informing your insurance carrier that your teenager has recently obtained their license is not necessary illegal. It will create problems if your teenager is in a crash or a claim needs to be filed. If the license was obtained during a current policy it is unlikely that a claim would be denied. They are allowed to charge back policy premiums for the period of time that the teen had their license.
If you are looking to save money when insuring a teenage driver, it is important to do your research. Providing your teenager with a car that is safe and not a high-risk vehicle, such as a sports car, will help to keep your cost low. Many insurance companies offer suggestions on how to lower cost as well. Talking to your provider about all of your options can make the process of adding a teenager driver manageable and stress free.