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Am I Required to Have Auto Insurance on a Teenager

   

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Am I Required to Have Auto Insurance on a Teenager?

States laws require that anyone who operates a motor vehicle be covered by an automobile insurance policy. In the case of a teenager, most policies do not automatically provide coverage for household residents unless they are specified as a driver and non-driving residents must be listed as “excluded”. If a teenager resides in the same household and is not listed on the policy, it is likely that they are not covered unless added to the policy and a premium is charged.

If a teen drivers becomes newly licensed, be sure to contact the insuring carrier to have them listed as drivers and remove from being listed as excluded. Never assume coverage without first verifying with the insurer.

Options to Compare when Insuring Teenage Drivers

The first thing that parents should consider is whether they should add them to their existing policy or insure them separately. The best step to help decide this is to compare the difference in price. First see how much the premium would raise if added onto the current policy and compare it to insuring them individually. Keep in mind that there are pros and cons to adding the teen to the parent’s policy:

* Pros – The teenager can drive any other vehicle on the policy and other drivers can also driver the teen’s vehicle.
* Cons – The premium for other vehicles on the policy may be increased.

Am I Required to Have Auto Insurance on a Teenager

 

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This entry was posted on Wednesday, July 22nd, 2009 at 11:58 pm and is filed under Auto Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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