Depending on where you live and what vehicle your teen will drive, adding them to your policy can double your rates (or more). Teens are expensive to ensure. They just are for the simple fact that they are inexperienced drivers and prone to more accidents. So what is a parent to do? Here are some suggestions to reduce the costs.

1. First, don’t let them drive. Driving is a privilege and if they don’t need to, don’t let them. Bikes, buses or good ol’ foot power may work to get your teen from point A to point B. But if they are licensed drivers you need to add them to your policy. If you want to keep them off, don’t get a license.
2. If driving is a must, then consider the vehicle. New, fast, expensive cars will increase your rates. If you can restrict your teen to a single vehicle, that is best. And if that vehicle is plain-Jane, even better. If you are buying your teen a vehicle, think cheap.
3. Good grades pay. Many insurance companies offer good student discounts, so if you want to lower your premiums, shoot for As and Bs.
4. Big brother can reduce costs. No, not an older brother. Big brother as in…someone looking over your shoulder. Several insurance companies offer monitoring devices to keep tabs on young drivers. These systems can reduce your costs because the likelihood of accidents is far less.
5. College-bound teens. If your child goes to college 100 miles away (or farther) you may get a discount because they are less likely to drive your vehicle. But if they take their car to school (and it’s in a small town or rural area) ask about discounts for geography.

To learn more about the costs of insuring a teen driver, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.