Ah yes. The excitement, freedom, and independence that come with turning sixteen years old. It’s a milestone that every kid cannot wait to hit. Meanwhile, parents may see it a little differently. The disbelief, anxiety, and expense of watching them grow up. The reality sinks in sometimes quicker than we even have time to plan for it.
Is my child eligible for any discounts?
Any other ways to reduce the premium?
Some important things to remember are the fact that all vehicles are rated differently. And it’s always more expensive for a brand new driver to start out than a seasoned driver with a clean driving record. However, the type of vehicle the youthful driver is being insured to drive makes a big difference. If the premium is a concern for you, make sure you’re planning ahead what type of vehicle and amount of coverage is needed. A 2019 Ford Mustang with full coverage is going to cost more than a 2002 Ford Taurus with liability only. If you need help deciding if you want to carry full coverage or liability only, check out this previous post.
My child is away at college.
Youthful drivers often stay on their parent’s insurance through college. Another discount is the “student away” discount. If your child is staying on campus more than 100 miles from home and they do not have their car with them on campus, they are eligible. Insurance companies know that the risk of the child on the road is less when they don’t have a vehicle with them during the school year. This is a great option verses just removing the student because it shows continuous coverage for when they branch off on their own policy.
Evaluate your liability limits.
One last thing to consider is even though we all want to pay as little as possible for insurance, your liability limits are very important. Youthful drivers are brand new to the road. And for this reason, they statistically do have more accidents. Before adding your youthful driver, talk to your agent to do a quick review of what bodily injury and property damage coverage you have and if it’s the right amount of protection for your family.
And one last tip: buckle up, keep your hands cell phone free, and make sure your kids know how to find the registration and insurance card in the vehicle.