Classes can be expensive, but you save on premiums and develop a more competent young driver. Seek premium discounts given by many insurers to students who maintain above-average grades. Find an insurance company that charges premiums based on the car your new driver operates most of the time. If so, expect your company to charge a higher premium for the increased amount of driving. Build a long-term relationship with your insurer.
Some companies reward longevity by forgiving a driver's first accident or minor traffic violation.
Help your son or daughter understand that poor driving habits can result in higher premiums or a canceled policy. Increase your policy deductibles or, for older vehicles, consider eliminating this coverage. If your child owns a vehicle, he or she should have a separate policy. However, if you share the cost of the car and its insurance, it may make sense to also own or co-own the vehicle. Your ownership interest lets you take advantage of a multiple-car discount.