Make Your Teens Auto Insurance Friendly
Getting a car and a driver's license is every teen's dreams. They wait for the day when they'll be able to take the driver's seat and cruise around town with their friends. If you have a teenager who is itching to get behind the wheel, it's wise to prepare yourself and budget your money for the additional premium you have to pay for your teen's car insurance. Here are some things you have to know when getting auto insurance for your teens.
Ever wonder why auto insurance premiums are higher for young drivers than older drivers? This is because insurance companies see young drivers as great risks. The probability that your teen will meet an accident is a lot higher than an older driver getting into one. There are several ways you can do to save on your teen's auto insurance.
High Grades
Studies have shown that teenage driver with higher grades or more responsible than those with lower marks in school. If you want to save a few dollars on your teen's auto insurance, it's best to encourage him to get a B or higher. Most insurance companies may offer as much as 10% discount on insurance policies of teenagers with good grades.
Use your Insurance Policy
If you have a good policy and you are classified under the low-risk driver category, then you can easily add your son or daughter to your policy. Contact your insurance provider and inform them that your teen is being included in the policy. Usually, there will only be a minimum increase in the amount that you have to pay.
If you are driving an expensive car or if you don't have a good claims record, it might be cheaper to get a separate insurance policy for your child.
Choose an Efficient Car
Your child would probably want a sports car or a vehicle that he can show off to his friends. When choosing a car, keep in mind that a sports car will increase the price of your teen's auto insurance. Your child, being an inexperienced driver is already in the high-risk category; don't make it worse by giving him a race car. Sports cars are accident prone vehicles and are always the target of car thieves. Insurance providers would see this as an increased risk, thus, your premium will also be higher.
Getting a safe economy car is your best bet. Also, don't forget to install anti-theft devices on your car. This would help lower your insurance expenses.
Educate Your Teen
Informing your child about the seriousness of getting into an accident and violating traffic laws would help you avoid an additional increase in your premium. A speeding ticket or a D.U.I may not be taken seriously by your child; however these things would gravely hurt your auto insurance premium.
If your teen commits more than 3 traffic violations, your insurance provider may not renew his policy anymore and you'll find it hard to get a lower insurance premium after that.
Your teen would be very excited when he gets his own car. Make sure that you teach him how to be a responsible driver. Explain to him how his actions can affect his driving record and your auto insurance policies.
