The Milestone Every Parent Dreads (and Celebrates)
Watching your teenager get their driver’s license is a huge moment—but it also comes with plenty of questions. How much will my rates go up? What’s the safest car for a beginner? How do I make sure they are actually protected?
At R Hobbs Insurance Agency, we’ve helped hundreds of Chicagoland and Wisconsin families navigate this transition. Here is our expert guide to keeping your teen safe and your budget on track.
1. The “Big Three” Savings Tips
Adding a driver doesn’t have to break the bank. We look for these specific discounts for every family:
- The Good Student Discount: Most carriers offer a significant discount (sometimes up to 15%) for students who maintain a “B” average or higher.
- The “Student Away” Discount: If your teen goes off to college more than 100 miles away and leaves the car at home, your premium could drop significantly.
2. Choosing the Right Vehicle
The “old clunker” isn’t always the cheapest to insure. When car shopping for a teen, look for:
- High Safety Ratings: Cars with electronic stability control and side airbags often have lower liability premiums.
- Moderate Horsepower: Carriers know that a high-performance sports car + an inexperienced driver = higher risk.
- The “Liability Only” Option: If you buy an older, safe vehicle outright, you might choose to skip collision coverage to save money.
3. Why Now is the Time for an Umbrella Policy
This is the most important “pro-tip” we give parents. A teen driver increases your household’s liability risk. A Personal Umbrella Policy provides an extra layer of protection (usually $1 million or more) that kicks in if your teen is involved in a major accident. It’s the best way to protect your retirement savings and your home.
Contact us for all of your insurance needs!
Illinois and Wisconsin residents, at R Hobbs Insurance Agency, we can work with you to make sure you’ve got the coverage you need, while at the same time using all possible credits and discounts to make that coverage affordable. Just give us a call at (847) 680-0888 or send us a note at chris@rhobbsinsurance.com. We want to help you meet your goals and make sure what’s important to you is protected!