3. Is it cheaper to put my teen on his or her own policy, or on the family policy?
Insuring a teen driver can easily double, triple or quadruple your car insurance rates. But it's usually less costly to add a teenager to your family policy than getting separate insurance coverage for your teen.
In one hypothetical situation, CarInsurance.com found that it would cost about $1,800 more to insure a teen separately, compared with adding that teen driver to a family policy.
Pages in this slideshow:
- Top reader questions about insurance for teen drivers
- 1. When do I have to add my teen to my insurance -- when he or she gets a learner's permit, or a driver's license?
- 2. Can my insurance company force me to add my teen to my policy even though I don't allow him or her to drive yet?
- 3. Is it cheaper to put my teen on his or her own policy, or on the family policy?
- 4. If my teen isn't on my insurance and crashes the car, is the damage covered?
- 5. When do auto insurance rates for teens start to go down?
- 6. How can I minimize the insurance costs of a teen driver?
- 7. How much will my rates go up if my teen crashes or gets tickets?
- 8. Will the type of car my teen driver uses affect my premiums?