Mike,  I’ve heard horror stories of how much it costs to add my kids to my insurance policy.  How can we keep our costs down when my kids start driving? – Sarah

Sarah,  Teens are expensive to insure and there’s good reason for that. There’s a high probability that a young driver will be in an auto accident in their first three years driving.  It’s usually not if, but when and how severe. There are a few things that you can do to keep down costs. Most insurance companies now offer discounts if you download an app to your phone that will score your driving habits. Some companies give a bigger discount for teenage drivers who participate. Almost all companies give a discount if your youthful driver has above a 3.0 GPA. You  could also save money by having a less expensive vehicle that is used by your young driver. Some people think that they’ll save money by forgetting to tell their insurance company about their young driver.  I do not advise this.  More and more companies specifically exclude drivers who are not on the policy, but live in the household.  You could find yourself with no coverage after an accident if you fail to disclose a driver.  The best thing you can do when your child starts driving is talk to an independent agent who can shop your rates against a number of companies and give you ideas on additional discounts.