Guide to Insuring a New Driver

Whether your child is about to obtain their license or you’re looking to get your own Auto Insurance policy, it may seem daunting while trying to find the right coverage. To help, ensure your new driver is protected with these tips.  

Adding a Driver to Your Policy

If you currently have an Auto Insurance policy, you can add a spouse or newly-licensed teen to it. To begin this process, reach out to your insurance agent and go over your current policy to discuss options and rates. There are three things that can be helpful to keep in mind to prepare for this conversation:

  • Review driving records and pay any outstanding fines i.e., tickets, fines, or other violations that could have a direct impact on an Auto Insurance quote. Learn more about the influence tickets have on your driving record here.
  • Adding a new driver could increase an Auto Insurance rate. One way to manage costs would be to re-evaluate and discuss the needed amount of coverage. This could be based on a vehicle’s age and model.
  • Ask about discounts the insurance provider may offer for Auto Insurance. At OKFB, we have an array of discounts across our lines of insurance. 

Shopping for an Auto Policy

Looking to get off your parents’ policy? Start with consulting with your parents’ current insurance agent and see what they can offer. Also, reach out to other insurance providers to ensure you find the best fit for you. It’s important to understand how auto coverage works. Take a look at our glossary of insurance terms to prepare for these conversations. 

Required Coverage

Auto Insurance is legally necessary when operating and owning a vehicle. There are also multiple coverage options available to ensure your specific needs are covered. However, every state has a minimum auto insurance amount that they require. According to Oklahoma’s Insurance Department, Oklahoma follows the 25/20/25 rule, or $25,000 for bodily injury protection per person, $50,000 per accident and $25,000 for property damage protection. 

By working closely with an agent, driving safe and ensuring continuous coverage, you are protecting yourself and building a strong insurance history. Contact your local OKFB agent to talk through this process. It can start when you are ready to add a spouse, teenager or when beginning your journey toward owning your own Auto Insurance policy.

Good Grades Discount

Getting a driver’s license can be an exciting time, but chances are it may be less so for parents. This newfound freedom for the new, young driver also means a policy update or addition to maintain the necessary auto insurance coverage. If a vehicle is being added to the policy for the new driver, it will require adding a new coverage line. If the driver will be sharing a car that is already under the policy, that will require a policy update as well. Adding coverage or adjusting coverage can mean changes in price. Most times, a new, young driver will be more expensive to insure. Luckily, many insurance providers offer a good grades discount for car insurance. Read more about this discount and contact your agent to apply:

To be eligible for this discount with OKFB Insurance, a student must*: 

  • Be a full-time student in high school, college or university
  • Have a scholastic record during the immediately preceding school semester or quarter that shows one of the following: 
    • 3.0 GPA or B average
    • Scholastic rank in the upper 20% of his/her class 
    • Included on the “Dean’s List,” honor roll or other comparable scholastic recognition list 
  • Send the insurance agent a copy of the student’s most recent scholastic record 
  • Apply for the scholastic credit with your agent

Contact your agent to see if your student is eligible to receive the good grades discount. While you’re at it, take a look at our other discounts for Auto Insurance policies. 

*Depending on your carrier, these eligibility requirements may vary.