Reader’s Question

I am planning to get my teenage son his own car. If I get him his own car insurance policy, would I be able to get a cheap car insurance quote?

Alice

Charleston, WV

Teenagers (whether they are registered drivers or not) are considered high-risk drivers because statistically, they get involved with the most number of road accidents in all of the United States. Even if only the registered drivers are considered in the study, teenagers would still on top of the list of those who register the highest number of accidents-both fatal and nonfatal. Therefore, car insurance companies consider them as high-risk drivers.

Car insurance companies segregate their clients according to the risks they pose, so that they know how to compute for the policy rates. Generally, high-risk drivers are given high policy rates, and low-risk drivers with average or below average rates.

Getting a cheap car insurance quote for your son may seem impossible right now because of his age. But you may still try your luck by asking for some discounts that are applicable to your son. Normally, car insurance companies offer good student discounts or defensive driving program discounts. Check with the insurance agent if their company offers any of these.

Once you’ve done car insurance shopping, and you realize that the rates are actually higher than what you expected, you could always put the title of your son’s car under your name and include your son in your auto insurance policy. When your son reaches the right age, that’s the perfect time for you to exclude him in your policy and ask him to get his own. If you think about it, this seems a lot cheaper and more practical especially if you are having financial restrictions.