This is a sponsored post written by me on behalf of Nationwide Mutual Insurance Company. All opinions are 100% mine.
Nationwide provided me with information regarding its Nationwide Learning Center article.
My oldest son is a teenager and counting down the days until he can drive. It is hard for me to grasp that in less than two years he can get his learner’s permit. It is clearly on his mind as he frequently asks questions like ‘how much do cars cost?’ and ‘how fast does your car go?’.
While I know the answer to that second question (shhh…don’t tell my agent), there are many others that I don’t.
Nationwide has provided an excellent guide for helping parents like me navigate this new territory.
Do you know when you need to add your teen driver to your insurance policy?
Until I read this article, I honestly had yet to think about adding a Teen Driver to Car Insurance or when I would need to do it. I had no idea if it would be when he got his learner’s permit or whether it would be when he actually gets his license.
As it turns out each state has different laws and guidelines relating to this but where I live, my son can be listed on my policy at no charge until he becomes a licensed driver. It is always best to check with your agent to find out if your state is the same.
Speaking of calling your agent, there are many things that only your agent can answer and I’m expecting that I will be calling mine frequently.
Looking to save money on your premiums with a teen driver?
If you are looking to save money on insuring your teen driver, you have a few options. You can raise your deductible from $500 to $1000 but keep in mind that young drivers are inexperienced and likely will get in an accident at some point.
A better option, is to look into things that will drop your rates.
Consider the car your teen drives. You probably already know that if your kid wants a new BMW it will cost more to insure than that old truck sitting in the driveway, but did you know that what you drive can affect what it will cost to add your kid as a driver?
The rate will also likely be very different if they are added to your car as a driver instead of them having their own wheels. Even if they do have their own car, the rate on your car can go up as well.
I strongly recommend bribing your child early (I’m not above a little incentivizing).
Most insurance providers offer a good student discount and it is never too early to encourage them to get good grades if they want to drive.
I wonder if I can get my agent to require a 10 year average GPA?
Your provider may also offer discounts for families, driver training, low mileage and programs that monitor your driving. You may be able to get bundling discounts for combining your home and auto needs under the same provider.
Is your teen ready to drive?
If all else fails, you may want to postpone them getting the license. Insurance rates typically go down the older the driver is. Consider waiting until they are at least 17 years old and have more experience practicing with a learner’s permit.