Lower My Teen Driver's Vehicle Insurance Premium
If you have a teenager getting ready to drive you may be a little apprehensive. On one hand the thought of having another driver to help out now and then is a good thing. On the other hand the fear of and accident and the additional cost for vehicle insurance can be cause more then apprehension.
There's no doubt that ensuring a teenage driver is expensive. Car insurance companies base their rates on risk and this age group is more risky than any other.
According to the Insurance Information Institute, a New York-based trade group, you can expect your car insurance premiums to jump 50% and in some states they could more then double.
That can be a lot of money, but what are your options?
1. You could not let them get a drivers license and deal with them complaining about it everyday.
2. You could make them pay for there own insurance and either put them on your policy or get them a separate policy.
What most parents do is add them to their policy and look for ways to cut costs.
There are some things you can do to get some discounts when insuring a teen driver.
Enroll Teen Driver in a Safe Driver Course
Auto insurers like to make sure that teens act responsibly behind the wheel. Safe driver courses can teach teens the proper way to address common driving issues so that they can improve their reaction time. Once a course has been completed, the instructor will issue a certificate that can be given to the auto insurance company. This often yields teens a discount off of their monthly insurance premiums.
Emphasize Good Grades
Teen drivers can receive a discount if they maintain a good grade point average. Usually, this is a grade point average of 3.0 or above. Students can show their insurers that they are responsible at school and that it will transfer to their behavior on the road.
Monitor the Child's Driving
Moving violations can make teen drivers have very high premium rates. Parents should make sure that their kids are obeying the speed limit and that there are no passengers in the car that are not siblings or adult family members.
Buy a New Car or an Old One
Newer cars have built-in safety features of some older cars do not have. These could qualify for additional insurance discounts.
For example, newer cars have some safety features -- such as anti-theft devices, air bags and anti-lock braking systems -- that can lower premium costs. Older cars may not have all of these features
If you're going to be purchasing a car for your teenager to drive its worth talking to your agent to determine which is the best route to go. If they are going to be driving one of your existing vehicles and be sure and add them to the policy