So, how much will it cost to insure my 16-year-old?
Determining the cost of car insurance for one individual can be tricky as there are various factors that can change a rate drastically. Some of these factors include the state you live in, your insurance carrier, qualified discounts, and whether or not your teen drives their own vehicle. The cost will be lower if you are simply adding a driver to your current policy (roughly an additional $20 a month), but that cost can climb up to $200+ a month if you are adding a teen driver and a vehicle. Call your insurance agent to get a better idea of what you can expect to pay.
Why does car insurance cost more for a 16-year-old?
A driver's experience on the road is a big variable when it comes to insurance. Car insurance companies are designed to minimize their financial risk, so it makes sense that a more experienced driver with a good driving history would be less of a risk on the road than a not-so-experienced driver with no history. Practice makes perfect, right? Good driving status comes with time, and young drivers do not yet have a record to show whether or not they are a safe driver. Insurance rates tend to go down once a driver hits the age of 25.
What are some of the most common driving mistakes for teens?
Distracted driving, tunnel vision, and speeding are some of the most common mistakes made on the road by teenagers, according to AAA. Cell phones are the biggest culprit when it comes to distracted driving. Other distractions could include eating, noisy passengers, adjusting the radio, inputting directions in a GPS, or even applying make-up. It's not possible to outlaw all distracted driving, but many states have implemented laws against the biggest offenders. Tunnel vision can be common among new and nervous drivers. This is when a driver focuses too much on the car in front of them and does not scan the surroundings for possible dangers while driving. Teens tend to have tunnel vision on the road which makes it easy to miss cautions like merging cars, pedestrians, or animals crossing. Speeding is another common mistake, but this is not limited to 16-year-olds. It is far too easy to press a little too hard on the gas pedal, and a lot of the time it is not intentional. However, it is dangerous all the same. When it comes to teens in deadly car accidents, statistics have shown that speeding is often a factor.
How can I save money on car insurance for a 16-year-old?
There are a couple ways you can save.
- Have your teen on a parent's policy. The cost can be up to 30 percent cheaper this way. There are also discounts, like a multi-policy or multi-car discount, that a teen usually cannot get on their own.
- Share vehicles. This can be a huge money saver. The fewer the cars, the lower the cost! Many car insurance carriers allow the teen driver to be added as a secondary driver, or even an occasional driver if they happen to be going to school in another state. Since the teen would not have primary access to the vehicle, typically they would pay a lower rate.
What is the best car for my teen to drive?
If you could make it work, the best car for your teen would be the car you drive. BUT if car sharing is just not an option, you'll want to find something reliable yet affordable. Used cars in good condition would be something to look into. Be sure to check for airbags and other safety features when purchasing a used car. You may even want to consider having a safety inspection. A car with airbags will have cheaper liability insurance than a car without because they reduce the potential for serious injury. And selecting a liability only policy will keep costs down when compared to purchasing a full coverage policy for a young teen driver.
This is an exciting time for your 16-year-old! And it should be for your too. We here at ALINK Insurance Services want your teen to be safe on the road, and we want your family to have the coverage they need. Give us a call today to discuss the effects of having a teen on your auto insurance. We are "Your Link to Security!"
Denver Metro/Parker: 303-752-6479
Colorado Springs: 719-473-6262
Surrounding States: 877-643-6148