'Drivers age 16 are involved in about 26 accidents per million miles driven versus 10 accidents for drivers 20-24' Insurance Institute for Highway Safety.
The first way to drive down the price of your teen's insurance is to add them to your current policy as an additional driver. That way, you can take full advantage of the discounts you already get, such as covering multiple cars, going paperless, using automatic payments, etc.
All those years of nagging your kids to do well in school are about to pay off! With the Good Student' discount, your teen can qualify for discounts of around 10% if they carry a B average or above. Stay in school kids!
If your teen attends college more than 100 miles away and doesn't take the car, you should speak to your insurer about reducing their surcharge. You can also encourage your teen to attend a state-certified driver's safety education course. You can then send the certificate of competition to your insurance company to save a further 10%.
Some insurance providers offer big discounts based on driver behavior. By installing a small tracking device in your vehicle, insurers can monitor speed, distance travelled, braking and cornering. So, if your child drives safely, you will save on renewal costs.
Your child's safety is much more important than getting them on the road. So, if you've already tried all the helpful tips above and the insurance is still too expensive, it might be worth waiting a few years for the cost to reduce. If your child drives your car uninsured, they will not be covered in the event of a crash or worse. Driving uninsured is NEVER worth the risk.
Reference:https://www.cbsnews.com/news/add-a-teen-driver-to-your-insurance-without-going-broke/