NASHVILLE, Tenn. (WTVF) — If you have kids, you've either gone through the dreaded teen driving years or if your kids are still young, you're dreading the time they're old enough to drive.
You worry when they pull out of the driveway and hope and pray for their safety until they get home. Parents know what I'm talking about. And they know all too well that while teen drivers tend to be riskier on the road, they are also more expensive to insure.
For now, Jordan Hinckson is just getting a feel for the road with Mom by his side.
The type of car matters, because teens have crash rates nearly four times those of drivers 20 and older. And car crashes are the leading cause of death for ages 15-24. Choosing the right vehicle is critical.
“You're gonna want to choose a car that isn’t too big, isn't too small, and also too fast, not only is it going to be cheaper to insure but it’s also going to give that teen driver a better sense of their speed,” said Keith Barry with Consumer Reports.
Consumer Reports and the Insurance Institute for Highway Safety identified more than 50 used cars under $20,000 that have performance and features designed to keep young drivers out of a crash but that also have high levels of crash protection if the worst does occur.
On the list: popular picks like the Honda Civic, Toyota Corolla, and Hyundai Tucson.
But finding the right car is only half the challenge. – Insuring your teen can be pricey—premiums can run much higher than for experienced drivers. One common question: should you put your teen on a separate plan?
“In general, putting your kid in a separate plan will cost more money," Barry said. "Loyalty doesn’t pay. Shop around. Insurance companies want to attract you with lower rates.”
Consumer Reports found that the median savings for policyholders who switched insurers recently was $461 on their annual premium. As for coverage, it may be tempting to cut back on collision or comprehensive to save money. But Consumer Reports says
“Never skimp on liability insurance even if it does save you money on your premium,” said Barry.
The right car and coverage can go a long way toward protecting teen drivers.
Depending on the value of your home and other assets, you may also want to ask about an umbrella policy. It’s extra liability coverage that goes beyond the limits of your auto and homeowners’ insurance.
Do you have more information about this story? You can email me at jennifer.kraus@newschannel5.com.
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