Insuring Your Teen

So your kid is about to turn 16 and it’s time to decide on car insurance.  A lot will depend on whether you want to get them their own separate policy or just add them as an additional driver onto your existing car insurance policy.

Boys & Girls

Costs will vary depending on whether your child is male or female, what style and color of car or truck they drive, what part of the country your live in, and so on.  For example, a 16 year old boy driving a red sports car will find their insurance rates at the top end of the scale, whereas a 16 year old girl, driving a station wagon will have comparatively lower rates. Boys are most commonly associated with illegal racing/drifting and boys with sports cars are especially looked upon cautiously by insurance companies due to that and general safety/accident concerns. So if you want your child to be safe and keep your insurance rates as low as possible, then you should buy them a more conservative model of car, van or wagon, and of course both for their safety and for lower premiums, having air bags in the car is always a good idea.

Additional vs Separate Insurance
You need to decide whether you want to just add your teen to your existing automobile insurance coverage plan or to just get them their own plan in their own name.  It can be an opportunity for your child to start building their own positive credit history, as long as all payments are made early or on time.  Even if they have an accident or two, as many teens will tend to in their early years on the road, their rates may go up, but at least by paying the premiums on time, they are establishing a foundation for positive credit for the future.  If you choose the separate option for this reason, be sure the insurance company creates a new, separate account in your teen’s name, with all of their information on the account, not yours. Also, ideally you want the payments to come from your child’s bank account or debit/credit card so they can earn the ‘credit’ for the positive financial behaviour on their own credit report.

Talk to your Insurer
Talk to your insurer to see what your options are under you current policy. And it never hurts to check with the competition to see what they offer as with the addition of your child to your insurance policy plan, it may make more sense to switch carriers to one that specializes in family coverage and/or has better fitting or lower costing policy plans for you and you family’s needs.

Teen driving tips on

Teen Driving Tips
There are a lot of easy ways to keep your children safer and thus keep your insurance rates lower – for some teen driving safety tips, please follow this partner link-> Teen Driving Tips

Mike Machina has written for 944 Magazine/, Comcast, The Onion and Westword and has been a car enthusiast since he was first able to get behind the wheel of a truck on his friend’s farm in elementary school. He specializes in blogging about classic cars, everyday driving tips, maintenance, insurance and car humor.

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