💰How to Insure Your Teen Driver

Watching your teen get their driver’s license is exciting... until that first insurance quote rolls in.

Teen drivers are considered high-risk by insurers, which means high premiums. But that doesn’t mean you have to drain your savings. Here’s how to keep your teen covered without breaking the bank:

1. Add them to your current policy
   It’s almost always cheaper than a separate one, and you may qualify for family discounts.
2. Compare multiple quotes
   Don’t stick with your current provider out of habit. Rates vary widely, especially for teen drivers. Compare offers here.
3. Use every discount available
   Good student? Defensive driving course? Bundling with home or renters? These all add up.
4. Pick a safe, modest car
   Older sedans or compact SUVs = cheaper to insure. Skip the sports cars.
5. Consider usage-based insurance
   Some companies offer up to 30% off for safe driving tracked by an app or plug-in device.
6. Raise your deductible (with caution)
   Higher deductibles lower your premium—but only if you can afford a bigger out-of-pocket cost in an emergency.
7. Revisit your policy each year
   As your teen gains experience (and hopefully keeps a clean record), you’ll likely qualify for lower rates.

You’ve got this—and we’re here to help you make smart moves. Compare offers here to make sure you have the best deal in the market.

VIDEOS YOU MAY HAVE MISSED THIS WEEK

Here are the top videos you loved the most this week. Which one was your favorite?

Milan Singh may earn affiliate commissions from the links mentioned. All recommendations and opinions are Milan’s own. This may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers.