Just because it’s legal for a teenager to get a driver’s license doesn’t mean you have to let yours try the second she turns 16. Driving is a big responsibility and can be an expensive chapter in your life as a parent. Your auto insurance premiums will increase when you add a teen driver to your policy. And if your child has bad grades and has not taken driver training, the rate increase is likely to be even higher. Make sure your teen has all her ducks in a row before letting her get her license, and choose a car for her to drive that won’t send you to the poor house.
How to Find Out
Look at the “Relative Collision Insurance Cost Information Booklet” produced by the National Highway Traffic Safety Administration because the amount of vehicle damage that can happen to a car matters to auto insurance companies. You can find this information online, or you can ask a car dealer about it. Dealers are supposed to keep this booklet in their showrooms. Car dealers must inform you about how much insurance will likely be for the type of car you are considering buying.
Or you could ask your insurer how much different model cars will cost to insure. The vehicles in the report represent a collision loss experience of worse than or better than average. An average score is 100, and anything less than that is better than average; anything higher is worse than average. Car scores range from a low of in the 50 range for a Chrysler 200 to more than 300 for a BMW M3 to a high of more than 700 for a Ferrari.
New Small and Midsize Cars
If you want to get a small car for your teenager, here are the cheapest ones to insure:
– Smart car
– Mini Cooper
– Toyota Yaris
– Honda Fit
– Chevrolet Cruze
– Nissan Juke
– Hyundai Elantra
Here are some good midsize cars for cheaper auto insurance for teenagers:
– Chrysler 200
– Honda Accord
– Subaru Legacy
– Kia Optima
Though sports cars are not typically cheap to insure, if you are set on getting one for your teen, the Chevrolet Camaro and the Ford Mustang score better than average regarding the collision loss experience.
New Pickups and Sport Utility Vehicles
All the two-door model small pickups scored well on the collision loss experience test. The best of the bunch is the GMC Canyon, but the Chevrolet Colorado, Toyota Tacoma and the Ford Ranger all scored better than average.
Here are some of the best SUVs to insure:
– Jeep Wrangler (the lowest scoring car of all at 47)
– Honda CR-V
– Mercury Mariner
– Mazda Tribute
– Ford Escape
– Kia Sportage
– Hundai Tucson
– Toyota RAV4
– Nissan Rogue
– Volkswagen Tiguan
– Mitsubishi Outlander Sport
Used Cars
Average-carinsurance.com put together a list for parents who want to buy a used car for their teen drivers. The list includes only the cars that were on the Insurance Institute for Highway Safety’s 2008 Top Safety Picks list. All the cars on the list passed crash tests, and have newer safety features that appeal to insurance companies.
Here are the top 10 best used cars to buy for your teenager:
– Audi A3
– Honda Accord
– Mercury Sable
– Ford Taurus
– Subaru Forester
– Mercury Milan
– Scion
– Nissan Rogue
– Honda Civic
– Ford Fusion
All the models years are 2008 except for the Mercury, Honda Civic and Ford Fusion, which are 2009 model years.