When there is a new driver in the family, there are a number of factors to consider. The very first thing parents must think about is the driving situation for the student driver. Whether it is adding a child to an insurance policy so that they can drive the family car or purchasing a new vehicle for them, insurance is an important piece.
First, decide whether the student driver will be driving their own vehicle or will have their own. Remember that this has a big impact on the rate of coverage for the student. If adding them to your policy, the insurance company will need certain pieces of information. Plan on providing the child’s driver’s license information, age, and possibly other things to the insurance company. Also, ask the insurance company about discounts related to school. Many insurers offer a discount for students who remain on the honor roll or have good grades in school. Other discounts may also apply.
The same information will need to be provided if decided to purchase a vehicle. The next thing is to choose the level of coverage for your teen.
For more information on what to do when there is a new driver in the family, contact The Schwab Agency.

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