It can be harder to manage your auto insurance if you have a teenager on your policy. It can be even more difficult for you to manage the payments. Fortunately, there are several things that you can do in order to manage your auto insurance.
Determine If It Is Worth it to Keep Your Teen on an Auto Insurance
Having a teen on your car insurance will cause your rates to go up. Teen drivers are considered high risk because they are more likely to be involved in a car accident. The rates are also higher for male drivers. That is why it is a good idea for you to consider whether it is worth it for kids to stay on your insurance policy. If they can afford to get their own policy, then you should consider taking them off of it.
Exclude Your Child as a Driver
It is relatively simple for you to remove your child as a driver. All you have to do is exclude them from your auto insurance list of drivers. Keep in mind that they won’t be able to drive your vehicle if they are not on the insurance, which is why you should wait until after your child has moved out of the house to do this. If you believe they will still need to frequently drive your car, then you’ll want to keep them on but update how frequently they drive to negotiate for a lower insurance rate.
Provide Proof of Other Car Insurance
You can provide the car insurance company with proof that your teen has another car insurance policy. This is another option for those whose child is moving out of their home but still needs to have access to the parents’ car as a driver. This will show that your child is insured when driving that particular vehicle, but the cost will no longer be put on your own insurance policy. This will also allow your child to insure themselves on other cars in addition to yours without you needing to insure all of their vehicles yourself.
Talk to an Insurance Agent
It is best to talk to an insurance agent if you are thinking about removing your teen from your policy. Your agent can tell you whether you should take your child off your insurance. They can also tell you about discounts that you are eligible for. Having an independent child continue to use their parents’ car after moving out is a common occurrence that insurance agents will have much expertise in and they will be able to help you decide what course of action best suits your particular situation.
If your teen has moved out, then you should decide whether it will be worth it to keep them on your insurance. For most, it’s best to help your child get their own insurance, while others may find it cheaper to have the child stay on the family insurance and pay for their share. Whatever your situation, make sure that you speak with your insurance agent for all available options that can get you discounts and lowered rates.
