Car Insurance for Teens - Tips for Parents - Consumer Reports
We are committed to researching, testing, and recommending the best products. We may receive commissions from purchases made after visiting links within our content. Learn more about our review process. Becoming a licensed driver can seem overwhelming. Buying a car and getting it insured is a lot of responsibility. The good news is that if you do need to strike out on your own and pay out for your own insurance policy, the difference in premiums will become lower year by year as you grow into an older and more experienced driver.
INSURING A NEW TEEN DRIVER DOESN’T HAVE TO BREAK THE BANK
Teens and car insurance can be a costly combination for your wallet. Adding a teenager to your car insurance policy can cause your premiums to jump 50 percent or even double, according to the Insurance Information Institute, a New York-based trade group. Automobile crashes are the leading cause of death among Americans ages 15 to 19, according to the Centers for Disease Control and Prevention. Insurers charge higher rates for teens than for any other group of drivers, but teen driver discounts and other measures can help cut the costs. Is your kid a star student?
Having a family can be expensive. Here are the best companies for you and your young drivers based on average premiums and discounts. Coming in to top our list of the most affordable insurance company for families who have a teen driver on their policy is USAA. More info