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Adding a teen driver to your auto insurance policy often results in a noticeable increase in premiums, but the cost is only part of the equation. Equally important is understanding what your coverage does—and doesn’t—protect, so you can safeguard both your teen and your finances.
Understanding Coverage Basics
Liability coverage, which is required in most states, including Ohio, pays for injuries or property damage caused by your teen in an accident. Comprehensive and collision coverage, while optional, can cover repairs or replacement costs for your vehicle in cases of theft, vandalism, or certain types of damage.
If your teen’s car has custom parts or upgrades, you may need additional coverage to protect those items. Unsure if this applies to you? Contact your insurance agent at Ken Boldt Insurance Agency II Inc., serving Green, OH, for clarification.
Why Higher Limits Are Worth Considering
Teens are at a higher risk for accidents due to their inexperience behind the wheel. Minimum state liability limits may not be sufficient to cover the costs of a serious accident. Increasing your liability limits provides a stronger financial safety net if your teen is found at fault for significant damage or injuries.
Protection Against Uninsured Drivers
If your teen is involved in an accident with a driver who has insufficient insurance—or no insurance at all—uninsured and underinsured motorist coverage can help cover repair and medical expenses. This coverage is relatively inexpensive and can save you from paying thousands out of pocket.
Encouraging Safe Driving Habits
Many insurers offer discounts for teens who maintain good grades, complete driver safety programs, or participate in telematics monitoring. These tools not only reduce premiums but also help teens develop safer driving habits early on.
Adding a teen driver to your policy isn’t just about managing higher costs—it’s about building the right protection. Reviewing your coverage carefully now can help you avoid costly surprises later. Contact your insurance agent at Ken Boldt Insurance Agency II Inc., serving Green, OH, today to learn more.
