5 Tips for Buying Car Insurance for Teenagers

No two words can fill parents with more unutterable dread than "teenage drivers." If your kids are approaching driving age, you may be wondering how to minimize the costs of insurance, or even whether you should add your teen to your insurance policy at all. It's a tough choice to make: After all, insurance policies that include teen drivers can add more than $1,000 per year to your premiums.


Why is it so expensive to insure teen drivers? Insurance companies calculate premiums based on the risk of an accident. After all, the greater the risk, the greater the chance they'll have to pay on a driver's claim. And who are the riskiest drivers in the world? Teens. According to the Centers for Disease Control (CDC), drivers between the ages of 16 and 19 are four times more likely to crash than drivers of other ages. Even though teens only make up about 14 percent of all the drivers on U.S. roads, they account for nearly 30 percent of auto-related injuries, calculated by cost.

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