Affordable Auto Insurance for Teens

Your teenager just got his driver’s license. How exciting—and how expensive!

When your teen starts driving, it can mean more freedom both for them and you. But you might worry about the dangers your teen driver will face on the road as well as the expense of adding a teen driver to your car insurance policy. Finding the cheapest car insurance for your teenager can feel critical when faced with a steep increase due to your new driver. You’re right to be concerned: statistically, teens are more likely than adults to be involved in vehicle accidents and car insurance premiums do go up with the addition of a teen driver. But there are things you can do both to help your teen driver stay safe and minimize the impact on your car insurance rates.

Why your insurance rates go up when you add a teenage driver

There’s no way around it. Teen drivers do cause the family’s auto insurance premiums to go up, because statistically immature drivers are at higher risk for accidents. Teen drivers aged 16-19 are three times more likely to be in a crash than drivers aged 20 or older. The good news is L & M Insurance Group is here to help you protect your financial assets and make the most cost-effective auto insurance choices possible for you and your teenagers.

How to make Auto Insurance Affordable for Your Teens

Here are some ways to make adding your teen driver to your car insurance more affordable while still keeping your financial assets protected:

• First, if you haven’t already added your teenager as a driver on your auto insurance policy, do so now. If you don’t and he or she is in an accident, you may not be covered.
• Think twice before buying your teen his or her own car. Not only will you have the expense of adding an inexperienced driver, you’ll have to insure an additional vehicle. (Some research says teens are less likely to speed in a family car versus their own.)
• If you’re buying a car for your teen driver, choose wisely to avoid the most expensive premiums. Save on premiums by choosing a safe vehicle that’s not too expensive or sporty.
• It’s almost always more cost effective to add your teen’s car to your family’s auto insurance policy so that you benefit from discounts like multi-car and homeowner’s. Another benefit is that your teen will be covered if he or she needs to drive another of the family’s vehicles.
• Emphasize safety rules with your teen driver. The best way to keep insurance costs down is for everyone to maintain clean driving records. If your teen driver is also a safe driver, your premiums should eventually decrease.
• Ask your insurance agent about all available discounts, including those for safety features, good student discounts, and for taking a recognized driver’s education course.
• Make sure you have adequate liability coverage. That may seem counterintuitive, but insurance premiums are much less expensive than being sued. If your teen driver is at fault in an accident where someone is injured and your policy doesn’t have bodily injury coverage, you’ll be required to carry an SR-22. And if you only carry the state minimum, that may not be enough to protect you from a lawsuit. Depending on your assets, once your teen starts driving, you may want to carry higher liability limits, or even an umbrella policy. Your L & M Insurance Group agent should be able to help you understand and adjust your needs for liability insurance.

Main risks for teen drivers

Lack of experience and immaturity are the main reasons teens are more at risk on the road. Teenagers are more likely to be distracted or to engage in risky behavior like speeding or not wearing a seat belt. Teen drivers need time and experience to develop good judgment.

Parents can remind their teens that basic safe driving comes down to a few simple principles:

• Buckle up
• Observe speed limits
• Never drive under the influence of drugs or alcohol
• Focus on driving when behind the wheel

In addition to teaching your teen driver these basics, protect your teen driver by:

• Enrolling them in driver’s ed. Driver’s ed instruction and practice will help your teen learn how to react to hazards and challenges.
• Discuss the dangers of various behaviors like distracted driving, as well as your expectations. Establish consequences if they don’t comply.
• Set a good example. Don’t do the things you tell your teen not to do! Keep your full attention on the road when you’re behind the wheel.

(View more safe driving tips here.)

Why parents choose L&M Insurance Group for Affordable Auto Insurance for Teens

L & M Insurance Group is here to help, no matter what age or stage of life you find yourself in. L & M Insurance Group is an independent insurance agency, and we represent more than 15 auto insurance companies. We help drivers of all ages. Let us find the most cost-effective auto insurance policy for you and your teen driver. Call us at 813-672-4100 or email us for a free, no-obligation quote. Our staff has been serving Riverview, Brandon, Lithia, Valrico, Bloomingdale, and surrounding areas for 30 years, and we’d love to serve you!