Because a 17-year-old person is a minor, a parent or guardian must sign the car insurance policy that is issued to them. This means that parents will be responsible for what happens when their teen driver is behind the wheel. While you can title a car in the name of a minor, a license plate cannot be issued without proof of the vehicle's liability insurance. The best thing to do is to contact insurance companies to learn their guidelines for allowing a minor to obtain their own car insurance policy.
Once your teen gets their full driver's license and is ready to start driving the family van or even the car you're buying, it's time to start thinking about insuring it. Insuring young drivers is expensive because they are statistically more likely to have car accidents and therefore pose a greater risk to insurance companies. 17-year-old drivers pay more for car insurance than older, more experienced drivers because insurers consider them to be high-risk, meaning they're more likely to file a claim. If you plan ahead, consider the following suggestions and talk to your insurance agent at Wallace & Turner so that you can get out of this with a fully insured teenager with much less stress than most parents have to endure.
Therefore, in most states, a teen cannot independently buy or insure a car because minors cannot own property in most states or sign contracts, so parents would own that property until the child becomes an adult. A 17-year-old can save on car insurance by eliminating unnecessary coverage, comparing the quotes of several insurers, and taking full advantage of the discounts commonly offered to teens. Technically, parents have no insurable interest in the vehicle, so the insurance company can refuse to add the teen's car to the parents' policy. In general, the faster a car goes or the more expensive it is to repair or replace it, the more expensive it will be to insure it.
Since most insurance companies don't offer policies for children, the parent or guardian must sign the insurance documents (contract). While some insurers may agree to put a policy in a teen's name, most will require a parent or guardian to sign or co-sign the car insurance policy. In addition, cars that are more popular with thieves tend to increase insurance costs, regardless of how much they are worth. A 17-year-old can get car insurance in most states, but as a minor, a parent or guardian must sign the policy with you.
It's possible to exclude your child from your insurance policy, but that means your child doesn't have coverage if they have an accident driving one of their cars. States will vary in their laws when it comes to teen drivers having their own car insurance policies.
