It is an exciting time for your teenager when they get their driver’s permit or license; but for parents, this is often a very stressful time. Parents often have questions and concerns when it comes to properly insuring their teen drivers. At McKean Insurance Agency, we understand! (Our founder, Ian McKean, raised a teen driver too, and has two more to come!)
We are here to address your concerns and answer any questions you may have about auto insurance for a teen driver in Colorado.
Once your son or daughter begins driving, it is best to contact us, even if they do not need to be formally added to your policy right away. Early notification can help make the transition smoother when that time comes. We will also let you know the steps you will need to take so that you are prepared in advance.
Before getting their license, a teenager will need their learner’s permit. The first question many parents ask is “does my teenager need to be added to my policy if they have their learners permit?” Your auto insurance policy will automatically provide coverage for a driver on a learner’s permit in most cases, as you will be in the vehicle with them during this learning phase.
As soon as your teenager is officially a licensed driver in Colorado, he or she will need to be added to your insurance policy as a driver. You probably want to know if it is best to add them to your existing auto insurance policy or to get them their own separate policy. If you add your teenager to your existing auto insurance policy, you should be prepared for your rates to go up. Teenage drivers are much more likely to be involved in accidents than experienced drivers and because of the increased number claims insurance companies pay on them, their insurance rates reflect this.
While the rates on your policy may go up, this option will still be less expensive than putting a teenage driver on their own policy in most cases. At McKean Insurance Agency, we have relationships with preferred carriers that offer very affordable rates for teenage drivers. In many cases, we are substantially less expensive when compared to competitor’s rates.
You can also take advantage of various discounts by adding your teenager to your auto policy. Adding an additional car to your policy can allow for multi-car discounts. Discounts may be available if your son or daughter goes to school relatively far away and rarely drives. If they are a good student and get good grades, the discounts can be even more significant.
The car your teenager drives will also have an impact on your rates. It is best to stay away from sportier cars with high horsepower, which can tempt young drivers to drive speed or drive aggressively. Larger, safer vehicles are generally less expensive to insure, and young drivers are less likely to drive them carelessly.
If you have a teenage son or daughter who will be driving soon and needs to be properly insured, please reach out to us for a quote and more information!