Tips for Insuring Teen Drivers If your little ones are now as tall as you are and ready to get behind the wheel, you may be in for a bit of sticker shock. Young drivers can be expensive to insure. Insurance companies aren't picking on kids. Insurers are all about the statistics. Statistics are how insurers predict risk, which is part of how they establish a premium to charge. If you think of young drivers as “less experienced” drivers, the higher cost of insurance for young drivers starts to make more sense. Think back to when you were a “less experienced” driver. If you’re like most of us, you probably had some close calls that could have easily become accidents. Maybe you were less lucky and the close calls were actual accidents. With more experience, we learn what to do and what not to do, reducing the frequency of accidents. Fortunately, there are a few ways that may reduce the cost of insuring your teen driver while also promoting safety. Consider safe driving courses. Ask your broker if there are any discounts available for driver safety courses. Your insurer may have a list of approved courses that can help your teen be a safer driver and you just might save some money as well. Keep those grades up. Some insurers offer a discount for good grades. Ask your broker. If your insurer doesn’t offer a good student discount, there may be some other money-saving options available. Keep a good driving record. If there’s anything more expensive to insure than a teen driver, it’s a teen driver with a spotty driving record. Have a conversation about the responsibility of driving and the risk not only to ourselves — but also to others. Be a good example. If you want your teen to be a safe driver, lead by example and drive with caution. Take the time to make full stops. Resist the temptation to tailgate or speed. You know the rules of the road. Show your teen you can be a careful driver and still get where you need to go — safely. Most insurers require that you add your children to your policy as soon as they are licensed if they don’t have their own insurance. It’s usually less expensive to add your teen to your own policy. If it’s time to add a driver to your policy, reach out. We have a few ideas that may save you some money without cutting your coverage.