The American Academy of Pediatrics published a policy statement on teen driving that includes guidelines for parents and a contract you can use with your teen driver.

Here are some things you can do:

Give permission for them to obtain a license;
Control access to the vehicle;
Set family restrictions and punishments for infractions;
Assure that the vehicle is safe;
Be a driving instructor and supervisor or provide driving lessons;
Serve as a role model for safe driving.