For many teens, getting a driver’s license is a rite of passage, and a promise of freedom. For their parents, it’s a time of apprehension that seems to come with more questions than answers. If you’re insuring a teenage driver, Smallwood Insurance Agencies can answer those questions and put your mind (somewhat) at ease.
Does Your Teen Need Auto Insurance?
Yes. Just as the MVA requires insurance to register and drive a vehicle (with specific coverage requirements), you and your teen driver can be on the receiving end of fines, penalties, and fees in the event that he or she drives uninsured.
Types of Auto Insurance
Time for a refresher on auto insurance policies. In brief, there are three types of coverage you’ll need to consider for teen drivers, similar to your own insurance protection. These are:
- Vehicle liability insurance for damages and suffering caused to third parties and their property
- Uninsured motorist coverage that covers expenses incurred by accidents with uninsured drivers
- Personal injury protection that covers the disability, hospitalization and medical expenses arising from accidents
Who, Or What is Being Insured?
One thing it helps to understand is that auto insurance isn’t a single policy, but a group of them. Those policies work differently and should be understood if you’re worried about insuring a younger driver. Liability insurance insures the driver. Comprehensive insurance insures the car. So if your teenage son is on your policy, and driving your car (or his own), he’s covered by both the liability and comprehensive policies. If he’s behind the wheel of a friend’s car, things get complicated. The liability protection generally follows the driver, but the comprehensive policy may or may not depending on the particulars and fine print of the policy.
Cost to Insure a Teen Driver
Insurance premiums are based, first and foremost, around risk. Because teen drivers are three times more likely to get into an accident than their older counterparts, and because car accidents are the leading cause of death among teenagers, their insurance premiums are higher.
Offsetting Insurance Costs
Insurance costs can be offset somewhat if your daughter or son is on your policy rather than their own. There are other factors your insurance company may take into account, including bundling with your homeowner’s policy, discounts for students with good grades, premiums that decrease over time with a clean driving record, or enrollment in a driver’s education course. You should also ask your Baltimore auto insurance agents about student discounts for which they may qualify.
Smallwood Insurance Agencies Insures Teen Drivers
For all the information that floods our airwaves and internet about auto insurance, it can be hard finding reputable information about insuring teen drivers. Visiting an insurance agent like the ones available here at Smallwood Insurance Agencies can clear up those questions, and help you find the best auto insurance policies at rates you can afford. Our sincere hope, like yours, is that you’ll never need that insurance, but we also hope that if the worst happens, you have the right team in your corner. Call us for teen driver insurance quotes today.
