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Driving girl with man For most parents, watching their child get a driver's license and embark on a life on the road is nerve wracking. Between worrying about auto accidents and dealing with high insurance costs, the process can be quite stressful for some.

However, a bit of knowledge can help you navigate your child's newfound independence—without watching your bank account run dry due to high auto insurance costs. Here are three things every parent of a teenage driver needs to know about auto insurance.

#1: You Are Required to Report Your Teenage Driver to Your Insurer

Many parents falsely believe that not reporting their teenage driver to their auto insurance company is a great way to save money on rates. However, most insurers require that they have record of all drivers in the household who have access to car keys. If you fail to do so and your teen is involved in a wreck, your policy could be cancelled and the claim denied due to breach of contract—costing you thousands of dollars in legal fees and damages.

#2: Your Teen's Good Grades Could Save You Money

Insuring a teenage driver is expensive, but his or her good grades could save you a ton of money. Most insurers offer discounts for young drivers with a "B" average or higher. All you have to do is submit your child's most recent report card to your independent insurance agent to have the discount applied to your policy.

#3: A Safe Driving Course is More Than Just a Good Idea

Your teen's participation in a safe driving course is more than just a good idea—it could save you a ton of cash. Most auto insurance companies offer discounts for teen drivers who participate in driver's education courses. In addition to the discount, your child will learn important tips and facts about being on the road. Think of it as a win-win situation for you and your teen driver!

For more information and tips about teenage driving, please talk to your independent insurance agent today.

Make sure your teen is covered. Call Pan American Insurance at (915) 562-0009 for more information on El Paso auto insurance.

Posted 8:37 AM

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