If you’re a parent with a teenager who’s just starting to drive, you may be wondering if you need to add them to your car insurance policy. In most cases, the answer is yes. Here’s what you need to know.
Why Do You Need to Add Your Teenager to Your Car Insurance?
Adding your teenager to your car insurance policy is important for several reasons. First, it’s the law in most states. If your teenager is driving your car and gets into an accident, you could be held liable for any damages or injuries they cause. Without insurance, you could be on the hook for thousands of dollars in medical bills and property damage.
Second, adding your teenager to your car insurance can help protect your own assets. If your teenager causes an accident and you don’t have enough insurance to cover the damages, you could be sued and forced to sell your home, car, dig into their college fund, or other assets to pay for the damages.
How Much Does it Cost to Add a Teenager to Your Car Insurance?
Adding a teenager to your car insurance policy can be expensive, as teenagers are considered high-risk drivers. Premium increases can vary depending on the type of car and where you live as cities are seen as higher risk than suburban and rural areas.
However, there are ways to save money on car insurance for your teenager. One option is to take advantage of discounts, such as good student discounts and safe driving discounts. If your son or daughter has good grades, many insurance carriers allow you to submit their report card to your insurance company for the discount. You can also consider raising your deductible or reducing your coverage limits to lower your premiums.
What Happens if You Don’t Add Your Teenager to Your Car Insurance?
If you don’t add your teenager to your car insurance policy and they get into an accident, you could be held responsible. In addition to being held liable for any damages or injuries they cause, you could also face legal consequences.
Protect Your Family and Your Assets
As a parent, it’s important to protect your family and your assets. Adding your teenager to your car insurance policy is a crucial part of this. At EnsureUp, we can help you find the right car insurance policy for your needs and budget. Contact us today at (305) 452-0587 or visit our website at www.ensureup.com to learn more.