Teenage boy adjusting rear view mirror while mom leans on driver side door

As the parent or guardian of a young driver, you know it's essential to have good car insurance to protect them. Whether you're paying for it or they're working hard to foot the bill, it's a new expense for your family. Fortunately, you can find cheap car insurance for young drivers without breaking the bank. Here are the six ways to lower the cost of a young driver on your policy and save on the cost of your teen’s car insurance:

Good student discounts

Students with higher grade point averages are usually more responsible and better drivers. If your young driver earns a B average or better at school, you may qualify for a good student discount on Nationwide teen car insurance.

Accident Forgiveness

Accidents happen to even the best young drivers. And if one does occur, insurance rates may rise as much as 30%. If you have Nationwide's Accident Forgiveness as part of your teen car insurance package, your rates will not increase following the first at-fault automobile accident.

Defensive driving class discount

A Nationwide discount is applied when your teen successfully completes an approved defensive driving class. This may help you get more affordable car insurance.

Install anti-theft devices

You may save when you install an anti-theft device in the vehicle. Your possible discount varies based on the type of device installed and the state in which the vehicle is garaged.

Choose the right car and insurance policy

Your new driver may have their heart set on the car of their dreams, but it’s important to remember that a luxury car is likely going to cost you more in insurance. Your best bet when buying a teen’s first car is to find one that is safe and reliable, as this is often less of a risk on the road or your wallet.

However, if your teen does have a luxury vehicle, it may be cheaper for them to be on their own car insurance policy, since chances are the insurance premiums will be significantly higher than other cars within your policy. It may also make more sense for them to purchase their own policy if either parent has any DUIs or multiple moving violations, as adding a teen driver can make the current policy cost even more.

In most cases though, it’s generally cheaper to add your teenager to your household car insurance policy. While doing so will increase your insurance rates, your policy’s coverage and deductibles will also apply to your teen. You may also be able to save money by signing up for a multi-car insurance policy.

A higher auto insurance deductible may lower the rate, but could mean more out-of-pocket expenses after an accident. If the vehicle is older or has very high mileage, liability coverage may be a better option than collision or comprehensive – though it will not cover damages to the car after an at-fault accident. Getting the right coverage that best fits your needs is important for saving money on your teen auto policy. Learn more about Nationwide’s auto insurance coverage types today.

Practice safe driving

One of the most reliable ways to keep insurance costs low is to avoid accidents. Learn about the risks teen drivers face and get tips for how to prevent them. Nationwide’s teen driving resource center offers practical information about teen decision making, distracted driving, the role of parents in teen driving and more.

Getting the right coverage that best fits your needs is important for saving money on your teen’s car insurance policy. Learn more about Nationwide’s auto insurance coverage types today.

Insurance terms, definitions and explanations are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in individual insurance contracts, policies or declaration pages, which are controlling. Such terms and availability may vary by state and exclusions may apply.