Before your teenager hits the road for the first time, it’s a good moment for you to review your current auto insurance from all angles. Do you know your current coverages? Do you know your coverage options? Our advice: Review the specifics of your policy to determine if it’s a friendly one for a teenager. This exercise is a great way to prepare for your youthful driver and the accompanying sticker shock when you add them to your auto insurance policy.
Higher Premium Costs: It’s Going to Happen
On average, auto insurance premiums increase when you add a youthful driver. New drivers make mistakes, it’s that simple. A youthful driver’s inexperience is what drives up costs because they are more likely to have an accident. Having an independent insurance agent is your best secret weapon. Our agency is appointed with multiple insurance carriers in the market, and we know which one are kinder to these new drivers.
Liability Only vs. Full Coverage
Each car on your policy can be insured differently. Keep this in mind if you have purchased a inexpensive used car for your teen driver- there’s a difference between liability only vs. full coverage:
- Liability Only – Mandatory to make your car street legal. If you have an at-fault accident, coverage is provided to the driver you hit. This includes their property, as well as coverage for injuries. Liability only coverage tends to carry a lower premium.
- Full Coverage – If your car has a loan, it is likely required to carry full coverage. Collision coverage protects you from damage you cause to your vehicle if the accident is your fault. Comprehensive coverage covers the cost of replacing or repairing your vehicle if it is stolen, destroyed in a fire or damaged during a weather event. Because there is more coverage for the vehicle, full coverage tends to result in an overall higher premium.
Looking at the differences between these coverages will help you decide what coverage is best for your teen driver’s vehicle. Consider the value of the vehicle when deciding how to cover it- it will affect your bottom line. Your Cincinnatus Advisor can also help you look at your liability coverage options as you prepare for your youthful driver.
Ways to Save
Have no fear, there are common ways you can save when you add a youthful driver to your policy! Here are some common discounts:
- Some carriers give discounts if a teen driver has taken a safe driving course.
- Use your carrier’s telematics program- it’s a great way to monitor your teen’s driving behavior.
- Is your teen a good student? Many carriers offer discounts for good grades.
When the Rubber Hits the Road, Choose Cincinnatus
Cincinnatus Insurance is your best resource when you’re adding a youthful driver. Our expertise and knowledge of our carriers allows us to put you in the best situation to protect your family. Once you know you’re adding a youthful driver to your policy, let us know so we can assist!