How can I insure my teenage son without spending a lot of money?

Insuring a teenage driver will probably end up being very expensive. Finding the company willing to insure a teenage driver with low rates isn't easy. Statistically, drivers under the age of 25 have the highest risk of getting into accidents. In fact, drivers between the ages of 16 and 24 have the highest insurance rates. However, just because it is difficult to find a company willing to insure a teenage driver, doesn't mean that is impossible. There are plenty of auto insurance companies out there and finding one that will be right for a teenage driver just takes some time.

The most affordable option would probably be adding your teenage driver to an existing auto insurance policy once he gets a permanent driver's license. Even though this might still be expensive, your teen will be able to take advantage of various discounts as a driver on your policy. If you drive an expensive vehicle, it will be far more expensive to add a teenager to your policy. In this case, purchasing a separate car for your teenager will save you money on your auto insurance rates. Purchasing a used car usually poses less risk on insurance companies.

Lower risks for auto insurance companies usually mean lower insurance rates and premiums. The only way to identify your most affordable option is to contact your insurance company and speak with your agent in order to thoroughly go through all of your insurance needs. If you are thinking about purchasing a used car for your teenager, call your insurance agent and speak to him about what car might be most cost-effective for you and your teen. An economy car such as a Kia Rio or a Volkswagen is a good choice for a person who is a novice on the road.