The recent statistics show that many teenagers are involved in car accidents each year as in comparison to drivers whose age range fall between the 30 and 39. The same reason why many insurance companies are offering teen car insurance plans at a much higher rate than any other policies. Fortunately, not all insurance companies are seeing the same picture. In fact, there are companies that are actually helping many teenagers to trim down the cost when it comes to insuring their vehicle.
One of the many factors that insurance companies used to determine the premium is the risk of exposure. The analogy is simple, the higher the risk, the more costly the policy will become. Perhaps if you are a parent of a driving teenager, it is wise to talk to your child about safety driving.
Following below are simple steps on how to lower down teen auto insurance premium a bit. The same steps will also keep him from filling up his violation records rapidly.
Keeping a clean record.
Teenagers are known to drive haphazardly. However, this can be easily remedied by setting yourself as an example to them. Teach them the rules in safe driving. In turn, you should know the rules as well. Once they saw you hitting the brakes when seeing red light coming, they will do that too when they are the ones behind the wheels.
Another way to lessen cost is to add them to your current policy as an additional driver. This is a great option if you don’t want to get a separate policy for your child. Also, make sure that the discounts that were applied to your policy can also be transferred to them as well.
Motivate your child to get good grades in school. Surprisingly, many insurance companies will offer discounts if your child has at least 3.0 GPA. You can avail as much as 10% discount from this alone. You can give the 10% savings to your child to further motivate him to excel in school and to keep his good grades.
Get your child into driving lessons. Teen auto insurance premiums will be greatly reduced when your child has enrolled in any driving lessons before. However, try to call them first if they will credit just about any driving schools or just the specific ones.
Avoid buying expensive sports car to your teen. You can buy a descent car for him with the latest safety gadgets installed. Installing safety instruments will reduce the premiums of any insurance policies.
Discuss the teen car insurance to your child and how much it costs to have it. This will give him the sense of responsibility while driving.