All Florida Insurance Options, Inc.

Teen Drivers

All of us dread the day our baby stops getting on one of these…

And starts getting into one of these...

And we thought we worried about our children before! Teen driving can be scary for the parent because after all, we do know what can happen out there. Educating our kids ourselves, sending them to classes, helping them studying for the test, practicing their skills, and putting them in a safer vehicle to drive every day are great ways to start but no guarantee that something won't go wrong. Is it a matter of if a younger driver has an accident or when?

  So before you hand those keys over, the first thing to worry about is the financial consequences of a teenager driving. Insurance clients are, in my experience, often under one of two common misunderstandings when it comes to the new driver. Many folks think that their child receiving a Learner License does not affect their auto insurance because it’s not a “real” license so they don’t have to call their agent or change anything. The second misconception is that the State notifies the insurance company for them so they don’t have to. Both beliefs are not correct. Just as soon as your child receives the Learner License, call your agent or insurance carrier. You don’t want your child to have an accident but imagine something worse than that, your child having an accident and then you finding out that you’re not covered for it. It is true that some carriers do not charge extra for a certain length of time for your child’s new learner’s license, however, the policy must still list them. Unfortunately, most carriers do charge so you’ll experience an increase in your in premium for the new exposure and with some, the charge for the Learner License is no different than a regular license. It depends on the claims experience of the carrier as to how they file with the State to charge their clients. 

So after you’ve made the call…

Have you ever seen a higher insurance premium in your life? 
Did your agent really just say DOUBLE? 

Yes, you most likely heard them right. For the insurance companies, the claims experience often does double with a young driver so when the exposure doubles, the cost to cover it will often too.
And double exposure is something to stop and seriously think about…

You buy insurance to protect your assets and when your teen starts driving it is different than you driving now isn’t it? The risks are higher so maybe the coverage should be too. The rule of thumb is usually to buy insurance liability limits that are at least equal to the value of your assets or the state required limits, whichever is greater. But that rule is for the experienced, defensive, and ADULT driver; the type of driver that can often limit the injury or damage volume they cause because they react faster and stop quicker. That same idea may not apply to your teenage driver and you may want to double your coverage to protect your new exposure.

Once you have figured out whether or not you can afford the insurance to let them drive, then one of the main other things you can do is choose a vehicle that gives them the highest potential of, for lack of a better term, “wrecking well”. 

Check out this great article from Edmunds on the best car choices to take a look at:

Choosing the Safest Car for your Teen Driver

Check out those young driver rates by calling us or clicking below!


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