Keep New Drivers on Parent’s Car Insurance Policy

Car Insurance

Car insurance is one of the most expensive costs a family can incur. When it comes time for a child to being driving, many parents worry about the increase in monthly expenses it will cause. Even without purchasing a new car for the driver, car insurance alone can be a couple hundred dollars a month.

There are a few different reasons that young driver insurance is so expensive. First, many insurance companies base their costs off of driving experience. When it comes to new drivers the insurance companies like to think in worst case scenario. Unfortunately, young drivers are statistically one of the worst groups when it comes to speeding and auto accidents.

It is important that young drivers go to safe driving classes as well as driver’s education to receive lower rates. It is also wise to keep them on their parent’s policy instead of trying to open a new one as it will likely be the less expensive option.