Reader’s Question:

I am about to add my teen daughter under my auto insurance policy. I know it’s gonna get high. But I want to know how can I possibly get cheap auto insurence for my teen?

Dina

Columbia, MD

Adding a teen driver under your auto insurance policy would definitely change your insurence rates – it will as expected increase. As you see Dina, it is estimated that once you’ve added a teen female driver under your insurance policy your insurance rates could increase by around 50%. Meanwhile if you’ll be adding a teen son, your insurance rates will increase by 100%.

Now to save on your auto insurance rates, if you have a child who will be attending college soon and you’re planning to get her a vehicle, you may want to consider getting a separate insurance policy for her.

Also, if you are about to buy her a vehicle, remember that the cost of the vehicle itself is related to auto insurance rates. In general, performance cars or even convertibles cost more to insure.

Moreover, you must encourage your teen daughter to study more since this will also help you to get lower auto insurance rates. Aiming for an average of 2.0 or even better could significantly lower your teen’s insurance rates.

Lastly, encourage your daughter to use her vehicle less often. Lesser driving miles could also mean lower auto insurance rates. And if your child lives a 100 miles away from school, you can also get lower insurance rates for that. Just ask your insurance agent about it.