Lack of experience is the main reason that insurance rates skyrocket when a teenager is added to a policy. According to the Insurance Institute for Highway Safety (IIHS) teen drivers have crash rates three times higher than those of drivers age 20 and older per mile driven. Fortunately, there are ways for parents to save and minimize the sticker shock.

Parental Guidance and Safe Driving Courses

Though the specifics vary by state, all states have a graduated driving program that starts with a supervised learning stage. This is designed to help teens learn safe driving habits from more experienced drivers like their parents.

If your teen takes an additional driver's education course, premiums may be reduced. Good grades may also help you get discounts.

What Your Teen Drives Does Matter

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