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Can I Save Money on Auto Insurance by Naming My Child as an Occasional Driver?

Insuring children on an auto policy

The day your kid gets their driving license is a big day. For them, it’s a day marking a huge new step toward independence that they have been looking forward to for a long time. For you, it’s likely a day that you have been dreading for quite some time. Sure, it will be nice that you don’t have to drive them everywhere now, but worrying about your teen driver is enough to turn your hair gray. Oh, and there’s one other thing: insuring a teen driver can cause quite a jump in your premium. Auto insurers charge more to insure a young driver for obvious reasons. They’re the least experienced drivers on the road and are statistically more likely to cause an accident or receive a traffic violation. Choosing not to purchase auto insurance for them isn’t an option, so somehow or another, you’re going to have to find auto insurance coverage for your kid. Ideally, you should start planning for how you’re going to choose to get insurance for them long before your teen gets behind the wheel. One of the first things to consider is whether the teen is going to have his or her own car. ...

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