When you add a teen driver to your policy, it pays to shop around. Insurance companies have different risk tolerances and some charge much more than others for teens. Even so, don’t be surprised if your premium doubles when you add a teen to your policy.

Most insurers offer discounts to teen drivers if they get good grades, usually at least a B average. Some offer additional discounts if teens take certain driver-safety programs.

Ask your agent to "rate" the teen on each car in the household and designate the teen as the driver on whichever car results in the lower premium.

If your teen goes away to college, see if you can drop him or her from your policy but still have coverage when the student is home for breaks. Companies have different policies regarding drivers away at college. If your company insists that you pay for a student away from home, consider switching to one that doesn’t.

Most important: make sure your teen keeps a clean driving record. If he or she gets a ticket, see if it can be waived by taking a driver education class. Model and enforce good driving habits. Don’t let new drivers take passengers, even if your state allows it. And never, ever let your teen drive drunk.