Not All Insurance is Created Equal: Young Driver Car Insurance Options Are a Must for Teen Drivers!
Before getting behind the wheel, young drivers need specific coverage limits that parents need to be aware of.
As a parent you may be aware that your new teen driver needs insurance, but you may not be aware of just how important young driver car insurance options really are when shopping for a policy. For the most part, insurance plans that cover teen drivers cost much more than your own car insurance. This is due to the fact that by nature, young drivers tend to have higher incidences of speeding, reckless driving, texting and driving occurrences, accidents, and even serious issues due to thinking they are better behind the wheel than they truly are.
Affordable insurance rates for young drivers:
Even though your teen may be the exception to the rule, and may be quite responsible, you are still going to pay more for proper coverage. This is because the insurance industry views age groups on the whole, and averages their total risk when assessing coverage. Young driver car insurance is a higher risk for the company and therefore is always going to cost more. That being said, it is possible for parents to get the best rates available.
One common way to keep young driver car insurance rates down is to add your teenager to your current auto policy. While this helps to eliminate some of the risk to the insurance company, you can still expect your current rates to about double in price. If you choose to head in this direction, you should also increase your coverage amounts to the maximum levels you can manage.
If you are not able to, or do not wish to, add your teen to your current policy, or if your new driver has his or her own vehicle, you will need to purchase a separate policy. Bear in mind that a young driver car insurance policy will cost you even more than simply adding your new driver to your existing policy.
No matter what type of policy you end up purchasing (a new policy or adding the driver to your policy), there are several factors that can help to reduce the total cost. These factors include the type of car your teen drives, the driving history of the teen, whether or not the teen has completed a driver education program, and even the overall grades the teen achieves in school.
Typically the type of car that will lower a young driver car insurance rate is the type a teen least wants to drive. Sports cars are far more expensive to insure, and pose more of a risk. Older, heavier cars are deemed slower and safer, therefore costing less to insure.
Car Insurance Driving History
The driving history of the teen can be a major factor in the rates you will receive. Speeding tickets, accidents, and other violations will only work against the driver, and cause the rates to increase. If your teen has a poor driving record, all is not lost. In many cases, driver re-training programs can be taken which will help to illustrate responsibility to the insurance company.
Finally, the grades of your teen can do more than just get him or her into a good college. Students that maintain a grade average of at least a B can save up to twenty five percent on their policies.
As a parent, you should take an active role in helping your teen with their driving in order to keep young driver car insurance rates as low as possible. Talk to you teen about what you expect from them behind the wheel, where they are going when they head out, and who they will have in the car with them. You may also want to go driving with your teen so that you can monitor their driving habits. Use this time to be constructive, and compliment them in areas which they are excelling. If there are issues you are not pleased with, make positive recommendations so they do not feel as though you are criticizing their actions.
Always check with your current or prospective insurance companies to find out what discounts are available for young driver car insurance, how to go about obtaining these discounts, and what you can do as a parent to ensure safe teen driving. Most insurance companies are happy to make recommendations and provide quick quotes, so shop around and take full advantage of this information.