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What Is the Best Type of Insurance for a Teenage Driver?

As your child gets closer to driving age, you can’t help but ask a simple question. Do you have to insure your teenage driver? If your teen is going to drive a vehicle, he or she must be insured. Let’s go over the best type of insurance for a teenage driver and some tips to help you save on automobile insurance. 

Coverage Options – Choosing the Best Type of Insurance for a Teenage Driver

You have two main options for insuring your teen. You can add your child to your current insurance policy, or you can get a standalone one. If you are looking for cheap insurance for young drivers, it makes sense to add a teen to your current coverage. You will get the multi-driver discount with this option, reducing the rate. 

While this is the way to get cheap auto insurance for teenagers, there are some downsides you should consider. If your teen is a reckless driver, you could lose your good driver discount. If you have not made any claims for years, you probably have a “no claim” discount. You’ll lose the discount if your teen has to make a claim. 

Even if you lose discounts, you’ll probably save money in the long run when choosing this option.

How to Save Money on Car Insurance for Teens

Car insurance for teens can be quite expensive. Half of the teenage drivers in America will be in a car crash before graduating high school, so this is a high-risk group. To get the best insurance for young adults without breaking the bank to get it, follow some tips to save when getting car insurance for teens.

Comparison Shop

If you want to find cheap car insurance for teenage drivers, get ready to shop around. Annual rates vary by thousands of dollars for car insurance for teen drivers, so you need to compare quotes. Otherwise, you could spend two to three times more on coverage than necessary.

Get the Good Student Discount

Teen learning to drive or taking driving test with cheap auto insurance

You can save a lot on car insurance if your child is a good student. Good student discounts are available at the high school and college levels. Your child doesn’t have to be a straight-A student to get this discount. Usually, insurance companies offer a discount for students with a GPA of 3.0 or higher.

Get a Discount if Your College Lives on Campus

If you are purchasing college student car insurance and your child lives on campus without the vehicle, you can get a discount as high as 30 percent of the premium. However, most companies offer discounts in the 5-10 percent range.

Choose the Right Vehicle

Your child might want a flashy sports car, but it will be more expensive to insure. When shopping for the best type of insurance for a teenage driver, you will notice that premiums fluctuate based on the type of vehicle. Get a car with an excellent safety rating to lower the rates.

Talk to a Licensed Insurance Agent

These are just some ways you can find cheap car insurance for your teenage driver. Talk to a licensed insurance agent to learn more options to save on your policy. 

One of the best ways to save on your teen’s insurance is to shop around. Freeway can help you make the process fast and easy. The best part is you could save up to $839*. Don’t wait any longer, start your quote online, over the phone, or visit one of our offices today.

*Based on a Q1 2020 study of Freeway Insurance customers who reported saving when they switched.