After obtaining my driver's license, will I automatically be insured under my parents' policy when driving their car?

No, you won't automatically be insured under your parents' policy. In order to add you to the policy, your parents need to call their insurance agent or insurance company. This is important because if you were to get into an accident, you would not have auto insurance to cover the damage.

Your parents should prepare themselves for a sizable premium increase. Young drivers are more expensive to insure than older drivers because they're at greater risk for having accidents.

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Oftentimes insurers don't charge higher car insurance rates for teens that still have their learner's permits. Still, parents should contact their insurers as soon as their teens start to drive. Some states allow insurance companies to require teens with learner's permits be listed on their parents' insurance policies.

You can help keep your parents' car insurance rates down by driving safely to avoid accidents and traffic tickets, and by studying hard to get good grades in school. Many insurance companies offer discounts for maintaining at least a 3.0 grade point average.

For more, see when to add your teen to your car insurance policy.