Letting Your Teens Drive
Okay, they turn 16 and then we're compelled to let them drive or else they'll keep on making us drive them around the town. Having a teenager is tough, but having a teenage driver is a whole different scenario. Getting car insurance for your teens might be a bit costly but it will surely save you a few benjamins once they get into trouble. And as the adage goes, "it is always to stay safe rather than sorry".
At some point, they have to be independent and stand on their own two feet. Unfortunately, they all want the freedom that comes when they get behind the wheel of a car. Statistics show that drivers below 24 years old are 4x more likely to die than older drivers. It is due to inexperienced and recklessness which comes from being overconfident. Because of this statistics, most insurance companies charge between 50-200% more than the average when insuring a teenage driver especially for young men.
Most states require that adolescent needs to be at least 16 so they can be placed in an insurance policy. If they are under 18, you need to add them as a driver on your car insurance policy. This may be costly for you as drivers under 25 years old have the highest premiums of all age groups. Some factors will also be looked into like age, gender, your location, the type of vehicle, and how often does an adult accompany the adolescent driver. Male adolescents have higher premiums than females as they are more at risk for collision. Also, sporty, expensive or large cars will cost more to insure as they are capable of causing serious and costly damage.
It could also save you money if you let your teen take a DRIVER'S EDUCATION COURSE or learn from professional instructors as most insurers offer discounts for teens that have successfully completed this course and signed an agreement about safe driving style to avoid tickets.
Most auto insurers believe that good students make responsible drivers that's why they make a GOOD STUDENT DISCOUNT. They give 5-10% premium discount if your kid has grade point average of at least B, staying out of trouble, or if your child goes to college or university as this means that they are leaving home. You can stress out the importance of having good grades to your kids if they really want to drive.
Another cheap option to save money is to add your child to your policy if you have an excellent driving record. If you have a single car driven infrequently by your teenage kid, the premium should be affordable. But if you have poor driving record or have an expensive car, then you might want to consult with your agent first or check as many quotes as you can to check your options to save better. Your premium skyrockets if you put a teen behind an expensive car because insurance providers will always have the notion that your child drives all the family cars. So, it can also be wise to buy a secondhand, cheap car and insure it in your child's name.
Most teens like to park anywhere so it's also safe to protect your car from theft. You have the option to install safety features in the car like fit better locks, and immobilizer. Verify with your insurance provider if they'll reimburse you for the money you'll spend on safety features.
Alcohol or drugs mixed used while driving is a Financial Suicide. Oftentimes, this cause of accident is not included in the coverage so take time to get as many car insurance quotes as possible and read all especially the small prints to see exactly everything that they cover. You can also discuss discount options with sales agents before finalizing your decision. You'll surely be able to save money if you invest it with time and effort.
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