How can I convince my mom to let me get a car despite the potential increase in her insurance?
Adding a teenager to a car insurance policy can increase the premium by up to 150%.
The cost of car insurance for teenage drivers is higher due to their inexperience and higher risk of accidents.
In most states, it is required by law for all drivers in a household to be listed on the car insurance policy.
The average annual cost of car insurance for a 16-year-old driver is around $2,260, while for a 40-year-old driver it is around $1,500.
Young drivers can save up to 30% on car insurance premiums by maintaining good grades or taking a driving course.
Some car insurance policies offer "good student" discounts for students who maintain a certain GPA.
If a teenager is listed as an excluded driver on a car insurance policy, they will not be covered in the event of an accident while driving the insured vehicle.
If a teenager owns a car with a different owner, they may need to get their own car insurance policy.
Car insurance rates do not automatically go down when a car is paid off, but there are ways to save money on car insurance after paying off a car.
Increasing the deductible amount on a car insurance policy can help lower the premium for teenage drivers.
If a teenager moves out and becomes a primary resident at a new address, they will need to get their own car insurance policy.
If a teenager attends school out of state but returns home during breaks, they may still be able to remain on their parents' car insurance policy.
Some car insurance policies offer "distracted driver" or "teen driver" monitoring programs to help reduce premiums for teenage drivers.
In some cases, car insurance companies may require a teenager to install a telematics device or use a mobile app that tracks their driving habits.
Car insurance policies that offer telematics or mobile app monitoring programs often offer discounts for safe driving habits such as maintaining a consistent speed, avoiding hard braking, and driving during safer times of the day.
If a teenager is listed as an excluded driver on a car insurance policy, it may be possible to add them back onto the policy with a higher premium.
In some cases, car insurance policies may offer discounts for teenagers who complete a driver training program or complete a certain number of hours of supervised driving.
In some states, car insurance policies may offer a "family plan" or "multiple vehicle discount" for families with multiple drivers or vehicles.
Car insurance policies may offer different types of coverage for teenage drivers, including liability, collision, comprehensive, uninsured/underinsured motorist, and medical coverage.
Car insurance policies for teenage drivers may also offer roadside assistance, towing, and rental car reimbursement coverage.