How much will my rate go up?
Adding a teen driver to an auto insurance policy can increase premiums by anywhere from 50% to 300%. Of course, not everyone will see such a sharp increase. If your premium goes up, there may be ways to offset some of that cost.
How can I save money?
There are three easy ways to save:
- Make your teen driver hit the books. Many auto insurance companies offer discounts for good grades. At Liberty Mutual, we offer a Good Student Discount for teen drivers with a B average or better. That could help you save from 15% to 35%.
- Look for an older, less expensive automobile, since the value of the car is a large factor in the cost of the insurance.
- Consider raising your deductibles. The higher your deductible, the lower your premium will be. Your Liberty Mutual Representative will be happy to assist in determining what deductible amount is best for you.
Would it be cheaper for my teen get his or her own policy?
Probably not. Teen drivers who are added to their parents' policy get price breaks based on their parents' discounts that they couldn't get on their own.
What happens when my teen goes to college?
If your teen resides at a school more than 100 miles from your home you may be eligible to receive a lower rate.
Please remember that laws, regulations and insurance costs vary from state to state and from person to person. For detailed answers to questions about your situation, contact your Liberty Mutual insurance agent.
