When new parents contemplate the cost of raising children, they typically consider daycare, extracurricular activities, clothes, birthday parties – the list is endless, really.

But as children move through their teens, and parents envision an end to braces and March Break getaways, one mighty expense looms large: car insurance.

Young people aren’t cheap to insure even as occasional drivers, and the cost has risen significantly over the past decade.

Typically, sons cost more than daughters. The price can vary widely depending on all sorts of factors, but in our case we’re looking at an insurance hike of perhaps $900 a year when our daughter becomes a full driver. For a colleague with a son – and a new car – it’s far steeper: $3,600.

“A male could be charged 30 per cent to 50 per cent more than a female,” said Anne Marie Thomas, director of consumer and industry relations at the Insurance Bureau of Canada.

I’m just beginning this journey with my daughter, who recently received her G1 licence in Ontario. That’s the first step in the province’s graduated licensing program (other provinces have similar ones).

She will be added to my existing insurance policy next year, assuming she passes a road test and gets her G2.

That gives me some time to develop a strategy for dealing with this approaching expense.

I’ve already completed the first step in this strategy: I’ve enrolled my daughter in a government-approved driving school.

This isn’t a money-saving tip in the short-run, since my upfront cost is about $900 (that’s on the cheap end in Toronto, where I live).

But if it’s a government-approved driving school – check online with your province – you can get a discount on your insurance for about three years when your child is added to your policy as an occasional driver, which may offset some of the expense.

My insurance broker told me the discount would be about 10 per cent in our case, so I won’t recoup all the money spent on the driving school. Still, I can see the benefits: My daughter gets the training, in a car that’s not mine. I see the insurance savings as a bonus.

Second step: Shop around for insurance.

It’s worth asking questions about how different insurance companies approach young drivers.

Some insurers may take a more punitive approach, while others may offer bigger discounts for driver training programs. Just because you’ve got a great premium doesn’t mean that your child will too.

My broker said I’d be looking at about a 50-per-cent increase for a freshly minted occasional driver, which I understand is typical. Still, I’ll take that as an opening position.

Third step: Take a good look at your car.

We have just one car – an expensive electric vehicle that is less than four years old. I like it very much, but I see now that it might not be the best sort of car to entrust to anyone but me.

If you own a beater, count your blessings.

If you own two cars, and you are allowing your child to drive either one, the insurer will take the more valuable vehicle into consideration when calculating the premium.

Need a workaround? You can nix access to the more expensive car, but you’ll need to sign a form with your insurer.

Fourth step: When your child moves out, perhaps for university, keep them on your insurance policy as an occasional driver.

Part of the goal here is to give your child access to your car when they are home during vacations or between years at a postsecondary institution.

More importantly, though, they will get additional driving experience and extend their insurance record as they crawl toward the age of 25, when premiums for experienced drivers tend to drop.

And if you let your insurer know that your child is moving away for school, you might get a discount.

“If your child is away 50 per cent of the time, they may drop the premium by 50 per cent, because the exposure is not there,” Ms. Thomas said.

Did I miss anything? Let me know at dberman@globeandmail.com.