The Insurance Family Blog

If you are beginning to shop around for your child’s first car insurance policy, you’re probably already aware that it’s not unusual for student drivers to pay higher premiums. Young adults and students aged 15-24 are statistically considered a high risk group, especially young males, who almost always pay even higher costs. That said, there are some things you and your child can do to mitigate costs.

• Keep your child on your policy. Insurance companies with preferred rates will not insure a youthful driver without the benefit of also insuring their parents. Plus they will receive a multi-car discount (can be as high as 20%) if combined with their parents cars.
• Encourage your child to perform their very best in school. A GPA of B or better translates into a sizable break on insurance premiums.
• Make sure your young driver is operating an automobile with the latest safety features. Student drivers can often take advantage of the same safety equipment discounts as their older, more experienced counterparts. 
• It almost goes without saying, but maintain a safe driving record. Any ticks against a young driver will instantly cause rates to rise. 
• Stay away from cars that are a favorite for thieves, are expensive to repair, or are considered “high performance”.  They have much higher insurance costs. Before you buy a car for your child, contact your insurance agent to get a quote on what it will cost to insure.
• Whenever possible, place your home and auto insurance with the same company. Companies offer discounts of up to 25% when they write both policies. This will save everyone in your family money.

We encourage you to shop around for your greatest value. Your current company may have excellent rates for experienced drivers but terrible rates for youthful drivers. You want to find a company that has excellent rates for everyone. It’s always smart to do some comparative shopping, particularly when it comes to insurance for student drivers. As a responsible agency, we would like the opportunity to consult with you and answer any questions you may have as your child embarks on this new and exciting time in their early adulthood.