It is an exciting day for every teenager: Getting a driver’s license represents a ticket to freedom, and parents breathe their own sigh of relief knowing their chauffeur days are over. But the relief is short lived, because seeing your son or daughter behind the wheel may also cause anxiety. Not only do parents suffer sticker shock after adding their teen to the family auto policy, but the reality is that a young driver’s safety is more at risk than ever before. Vehicle accidents are the leading cause of death among American teens, accounting for more than one-third of all deaths of 16- to 18-year-olds.

The sobering fact is that teenage drivers have the highest crash risk per mile traveled, compared with drivers in other age groups. Characteristics of fatal crashes of 16- to 19-year-old drivers include:

• Driver error
• Alcohol
• Speeding
• Night driving
• Single vehicle crashes
• Low seat belt use
• Passengers

So how can parents better protect their kids and also their assets in the event of an accident? Some tips:

• Do not rely solely on driver education. Parents are role models and new drivers learn by example. Peers are influential, but parents have more influence than is credited to them.

• Do not teach your teen bad habits by using cell phones and texting while driving.

• Know and obey the laws and become familiar with restrictions on young drivers. Has your state enacted a graduated licensing system?

• Supervise practice driving that includes a variety of situations like night driving, driving on the freeway and driving in heavy traffic.

• Restrict night driving.

• Restrict passengers, especially multiple teens. Teenage passengers can be a major distraction and lead to more risky behavior.

• Require safety belt use.

• Have a no tolerance policy regarding drinking. Make it painfully clear to your teen that driving after drinking alcohol or using any type of drugs is illegal and dangerous.

• Choose vehicles for safety, not image. For example, small cars do not offer the best occupant protection in case of a collision. Also, high-performance cars that encourage speeding should be avoided. The best choice is a vehicle equipped with electronic stability control and side airbags that protect people’s heads.

Even with the best safety plan in place and the most responsible of children, your young driver may still be your biggest exposure to financial loss, so adequate protection for your assets should be considered. Even if your child is 18 or older, you could face negligence and be sued in the event of an accident.

If you have not already put a personal umbrella liability policy in place, now is the time. Jury verdict settlements can be very steep, with awards in the tens of millions. Our office can provide personal umbrella policies with limits from $1 million to $50 million in protection.

Information provided in this article was obtained from the Insurance Institute for Highway Safety.