Kiplinger's Personal Finance

It's no secret why insurance companies charge high rates for teens. Teens are inexperienced and may have a propensity to flout speed limits, drive under the influence, and be distracted by friends, phones and sound systems. A 16-year-old girl is 3 times as likely to have an accident as a 25-year-old. A 16-year-old boy is 5 times more likely to have a wreak. The best car choice for teens? They won't like it: A big, dull, slightly beaten up sedan.You can also help by giving your child more experience and by limiting risky behavior. And you might try a driving contract like the one at parentingteendrivers.com.