FYI-If you have a 16 year old living in your household and you decide to allow them to get their driver’s license, your monthly insurance payment will be significantly higher. 16 year old drivers do not have the experience to avoid the same accident that you or I could easily avoid having done so in the past. Historically, 16-20 year old drivers have the most accidents. If you are adding the young driver and you have a full coverage car on the policy, the company will automatically rate the young driver on THAT vehicle. This is due to the public buying unreliable, cheaper, liability only vehicles for their teenage drivers in the past, but then relenting and allowing them to drive mom and dad’s nicer car-which is when the teenager has the accident. The company did not collect enough premium for that teenage driver on the cheaper, liability only car to cover the loss for mom or dad’s full coverage car.
Your options when your teenager gets their license are: 1) Find a company that will allow you to rate them on the car they actually drive; or 2) accept the fact that your premiums are going to be very high; or 3) put them off on their own policy; or 4) exclude them by signature from coverage and know that if they DO drive your car, there is absolutely NO coverage for their acts (if your company will allow this).