Adding Teenage Drivers to Your Policy
If you’ve ever wondered why it costs more to insure a teenage driver, research shows that mile for mile driven, drivers aged 16-19 years are four times as likely to have an accident as drivers 20 and older.
Adding your newly licensed teenager as an occasional driver to your automobile insurance policy allows them to drive any vehicle listed on your policy on an “occasional” basis… so, no more than a few times a week. But if you have a newly licensed driver in the family and three plated and insured vehicles in your driveway, you will have to pay principal driver rates for your new driver.
As the policy holder, anyone listed on your policy has the potential to impact your insurance rates, through claims or driving infractions, so it’s important to instill good driving habits in your teenager right off the bat.
As the policy holder, you are fully responsible for knowing the records of all secondary drivers on your policy. More often than you might imagine, parents get caught by surprise at policy renewal time when their rate sees a significant increase, and only when calling their broker to find out why do they learn of their son or daughter’s ticket for speeding or some other infraction.
Ensure your younger driver understands a distracted driving infraction could cost you any conviction-free discounts you may have and increase your insurance by up to 18 percent. So, before you add your child as an occasional driver, make sure they are aware of all the consequences of their actions behind the wheel.