Can I Get Auto Insurance with a Learner’s Permit
A number of people wonder whether they can get auto insurance with a learner’s permit. The answer to this question is that it depends on the company involved. In most cases, the new driver with a learner’s permit is a teen or young adult.
Most companies do not require that the learner’s permit holder be be added to an existing policy or charge extra for the new driver in the household until he or she has obtained a full license. Some insurance companies do require that a driver with a learner’s permit the named on an existing policy, however, and this type of change in circumstance needs to be reported to the insurance company in any case.
Auto Insurance for Teen Drivers
The cost of insuring a teen driver is quite high. Parents who want to keep insurance costs down, while still providing the teen with the coverage he or she needs, can add the new driver to an existing policy. This is a much more economical choice than buying coverage with the teen driver as the primary policyholder.
The parent should make a point of getting a quote for adding the teen driver to his or her existing policy. It’s also a good idea to get quotes from other insurance providers and to compare rates.
Pricing for auto insurance coverage can vary significantly depending on the company involved. Each one determines independently how much it will charge for coverage based on how much risk it is prepared to assume on behalf of the policyholder.
Teen Drivers and High Risk Coverage
Teen drivers are considered high risk for auto insurance purposes because of their lack of experience behind the wheel. Young people are also known to take more risks when driving than more mature drivers. Young males can expect to pay more for their auto insurance coverage than young women. The good news for young drivers is that by the time they reach their mid-20s, the cost of their auto insurance coverage should start to come down as long as they are able to maintain a clean driving record.
Discounts on Auto Insurance for Teens
Parents who are looking for affordable auto insurance coverage for teens can take advantage of discounts offered by insurance providers. Some companies offer a price break to students who maintain a “B” average or better. They assume that a student who has the maturity to do well in his or her studies will also behave that way behind the wheel.
College or university students who will be going away to school and will not be driving while attending classes can also get a discount on their coverage costs. The parent should notify the insurance company of the situation and ask if an adjustment in price can be given to reflect the time when the young driver will be away and will not have access to the parent’s car.
