It can be a difficult and expensive process for parents of teenagers to find appropriate auto insurance coverage. Car and Driver reports that adding a teen driver onto an auto insurance policy can increase the premium up to 200 percent. Fortunately, there are steps you can take to reduce your risk and keep your costs low. Here are six tips for keeping the cost of your auto insurance policy down when it comes to teenage drivers. 

Tip 1: Shop Around

When insuring a teen driver, it's important to shop around and get quotes from different companies. Different insurance providers may charge more or less depending on their assessment of the risk associated with that particular driver. So, make sure to compare multiple policies before making your final decision.

Tip 2: Increase Your Deductible

Increasing your deductible is one way to lower your premium payments. The higher the deductible, the lower the premiums will be each month but remember that if you ever do need to make a claim, you'll have to pay that higher deductible out-of-pocket first to receive coverage from your insurer.

Tip 3: Take Advantage of Discounts

Most insurers offer discounts for good grades, safe driving courses, seatbelt wearing, and other incentives for young drivers. Be sure to ask about any discounts available and take advantage of them whenever possible to reduce your monthly premium payments.

Tip 4: Stay Claim Free

One of the best ways to keep auto insurance costs low is by avoiding claims altogether. Accidents happen, but try to keep them infrequent and minor when possible.

Tip 5: Don't Let Your Teen Driver Drive Alone

Insurers view young drivers as high risk because they are inexperienced and more likely than older drivers to cause an accident or get into trouble while on the road. To reduce this risk, consider having another adult accompany them on all drives until they become more experienced behind the wheel (and earn a better rate).

Tip 6: Consider Usage-Based Insurance Programs

Many insurers now offer usage-based programs, which track how safely your teen is driving through GPS technology installed in their car. Insurers can then use this data to assess risk accurately and offer discounted premiums based on actual driving behavior rather than their age or other factors outside their control.

Keeping auto insurance costs low when adding a teen driver can seem daunting at first, but it doesn't have to be. With careful research and smart choices about coverage type and limits, you can keep premiums manageable without sacrificing quality protection. Follow these six tips above, and you'll be well on your way toward finding affordable auto insurance coverage that fits your budget.

To learn more about obtaining an auto insurance policy, reach out to an insurance agent near you.