He has your car keys, so he needs to be insured.
It is possible to see a 50 to 100 percent increase in your car insurance premiums when your teen starts driving, according to Bankrate.com. While insuring a teen driver can definitely lighten the wallet, there are a few discounts you can pursue to bring the cost down.
Instructions
1. Compare rates from at least a few auto insurance companies. Rates can vary quite a lot from company to company.
2. Put your teen on his own policy. This may be the best choice if your driving record is not all that good or if you drive expensive cars.
3. Inform your insurance company that your teen makes good grades. You may be required to provide proof, but you can usually get a decent discount of around 5 to 10 percent if your teen is making the grade.
4. Buy a clunker --- that runs, of course. An older vehicle for your teen will keep the premiums down. Find out from your insurance company where the car your teen will drive fits on its risk scale for cars. Keep the car in your name as an adult to keep the rates down.
5. Ask the insurance company to list your teen as the driver of only one vehicle. Not all insurance companies will do this, however. If your teen drives any other car, however, he is uninsured, and the money to pay for a resulting accident will come out of your pocket.
6. Complete a teen safe-driving program offered by the insurance company. This can offer another premium discount. Completion of driver's education programs can bring more discounts as well.
7. Inform your insurance company if your child is driving with a graduated license as required by your state. These licenses allow teens to drive under certain conditions, such as driving only during the day, carrying a certain number of passengers and following a zero alcohol tolerance policy. This can also lower your rates.
8. Constantly caution your teen to drive carefully. Building up a safe driving record will keep your insurance premiums down over time.
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