5 Ways to Cut Teen Driver’s Insurance Cost
Teen Driver’s Insurance Cost-
It’s a big moment for any parent when their teenager starts driving on his/her own. It’s the first sign that the fledgling is ready to fly out of the nest. But along with the pride of seeing your teenager behind the wheel is the very real fear – “what if something goes wrong” – a fear that’s part of the package called parenthood.
While nowhere close to the anxiety you may feel every time your teenager takes the car out, another problem with having a young driver at home is expensive car insurance. There are several reasons why car insurance turns out to be much more expensive for teenagers and a lot has to do with the perception that they are careless and lack the experience to handle all types of road emergencies.
While you may cry yourself hoarse that your boy/girl is a responsible driver, but it’s all going to fall on deaf ears because so far as auto insurance providers are concerned, cold numbers speak louder than emotional arguments.
As for the numbers, they clearly indicate that teen drivers are more responsible for a lot more car mishaps than adult drivers. According to the California Department of Motor Vehicles, traffic crashes are the leading cause of death for teenagers across the U.S. Not just that, but drivers between the ages of 16 and 19 have the highest average annual crash and traffic violation rates. Who can blame the poor auto insurance guy, then, for treating all teenagers with a reasonable amount of suspicion?
But don’t start to despair just yet because there are ways to bring down the teenage car insurance cost for your teenaged driver and these include:
- You can consider adding your teenaged son/daughter to your own auto insurance policy because that usually turns out to be more economical than buying a separate policy for them. Find out from your auto insurance carrier whether they offer this provision and if they do, what it means in terms of premium. But be aware that any accident caused hereafter will jack up your premium. So, take this step only if you are extremely confident of your teen’s driving ability otherwise you’ll end up paying through your nose for mistakes that a new driver can make.
- Being good at academics has its advantages, but who would have thought that lower car insurance rates will be one of them? Many auto insurance carriers offer sizeable discounts for students who ace their classes. Depending on your auto insurance provider, a student with good grades can avail of a discount of anywhere between 15 and 25 percent. For exact requirements, you will have to check with individual providers but it’s a good enough reason to encourage your teenager to hit the library right away!
- Good student discount is not the only discount you can get on teen auto insurance policies. Some auto insurance companies such as The Hartford Insurance, Amica Mutual Insurance, etc. offer a discount of up to 10% to students who enroll in a formal driving training/safe driving course. This also helps your teenager learn safe driving techniques from an experienced and professional instructor. You may have been driving for all your adult life, but even you cannot discount the fact that a professional instructor will have a streamlined approach and a proven method to train young drivers.
- It’s likely that your teenager might demand or even fight you for a snazzy set of wheels. No matter how much you think they deserve it, don’t give in to their demand of buying them the car of their choice without first considering its impact on the insurance premiums. Some cars just attract higher premiums because they’re considered “high performance.” Instead of purchasing an impractical car, cajole your teenager to consider a more “insurance friendly” vehicle or better still, convince them to get a used car.
- As with all types of insurance, don’t hesitate to shop around for auto insurance quotes. All parameters remaining the same, rates may vary a great deal from one provider to another. Take advantage of the Internet and look up quotes on comparison shopping sites. Pick the guys who give you the best deal so long as they have solid credentials.
Learning to drive is an essential skill, but it’s also a step-by-step process. It takes months, even years to become confident on the road. So, give your teenager the time and the environment necessary for him/her to evolve into a good driver. Until then, urge them to exercise extreme caution on the road, follow all traffic rules diligently, and most importantly enjoy the experience!