Tips for Affordable Teen Insurance

If your teen has gotten a driver's license, you're likely feeling proud yet—let's be real—nervous. Not all teens are bad drivers (you weren't, right?), but the Insurance Institute for Highway Safety says that teens are three times more likely to have an accident than drivers age 20 and older.

Talk to an agent about the best car insurance coverage amounts for young drivers. You've probably guessed that car insurance for teens is higher than for older drivers. But there are ways to get your child covered without breaking the bank.

• Enroll your teen in drivers education, which may get you a discount on new driver insurance.
• Put your child on your auto policy as an additional driver, so your discounts will be applied.
• Reward your child for getting top grades. A higher GPA may reduce your insurance premium.
• Choose a safe car. Your teen may be dreaming of a convertible roadster, but a car with the latest safety equipment gets a lower auto insurance rate.

Stay safe behind the wheel

Want to help keep your teen driver safe on the road? These steps can help:

• Set a good example. Tempted to break the speed limit or run that "orange" light? Your teen is watching, so model the habits you want him or her to adopt.
• Ban cell phone use while driving, which increases the risk of a crash. A CDC survey found that 39 percent of high school students had texted or e-mailed while driving within the past 30 days.
• Talk to your teen about drunk driving, which impairs driving and claims more than 10,000 lives each year.
• Consider riding along with your child or installing an electronic monitoring device in your teen’s car, so that you can monitor his or her driving, at least until he or she gets some on-the-road experience.