Myths About Getting Cheaper Car Insurance for Teen Drivers

Published On Oct 26, 2024, 5:05 AM

The article discusses the rising costs of auto insurance, particularly affecting parents of teenage drivers, with premiums increasing by more than 50% in the last three years. Many parents are resorting to questionable strategies to lower their insurance costs, such as not declaring their teen drivers to the insurance company or putting a car in the teen's name to secure cheaper rates. However, experts advise against these tactics, emphasizing the importance of reporting new drivers to ensure coverage in case of an accident. Notably, a recent survey indicated that some drivers are providing false information to insurers due to rising costs.