I was looking for car insurance for my teenage daughter and my initial thought was "How can I save money?" After all, I knew I would be getting high quotes. But when you're talking about insurance for an inexperienced, high-risk driver, is saving money all you should focus on?

A teenaged driver represents a greater insurance liability because of their inexperience, and because statistics have shown that they are involved in more fatal accidents than any other age group.

When you take out a car insurance policy, you have to at least get the state minimum-required limits of liability. For example if you get Arizona car insurance, you need a minimum of $15,000 per person and $30,000 per accident Bodily Injury and $10,000 per accident for Property Damage. If you want to raise those limits to have more protection, you'll pay a higher premium.

Now think about this scenario with a teenage driver. His or her friends are riding along, singing to the radio and being a distraction. The driver runs a red light and causes a collision that puts three people in the hospital and totals two vehicles. The costs of this collision for hospital bills alone could be well over $100,000, hardly covered by the $30,000 per accident minimum. After your insurance pays, you are responsible for the rest.

What's more, you may be open to a lawsuit from the other driver -- a lawsuit that may drain every asset you have.

In the end, I decided to raise the limits on Bodily Injury, Property and both Uninsured and Underinsured Motorist coverages. It only amounted to a few dollars more a month but added plenty of extra peace-of-mind. I then decided to do some shopping to compare my current auto insurance company's quote with a couple of other insurers. As it turned out, my current company was still a better value with all things considered but at least I knew that I was getting the right insurance at the price I was comfortable with.