Insuring a teenager is more expensive as compared to insuring an adult. It is hard fact that put parents in the situation where they have to pay more for the insurance of their teenagers. Parents are left with no other choice except to tighten their budgets to accommodate the premium rates of their teenager’s car insurance. Securing a policy for teenagers is vital for two main reasons. First, teenagers still need protection from the possible pressures that may occur in the road. Second, it is a statistical fact that teenagers are more prone to getting mixed- up with road accidents.
Fortunately, there are ways on how to decrease the premium rate for teenagers without having to give- up much of its coverage. Getting a secondary policy for your teenager under your own policy is a good way of saving up through discounts and promos. Insuring that the car your teenager is driving is seen as a “safe car” by car insurance companies. Making sure that your teenager is avoiding traffic violations to establish a good driving history is a strategy that is effective enough to decrease premium rate even for adults.
Parents have the option of insuring their teenager under their own car insurance policy. This can only be done if the teenager does not have his or her own car. It is a common situation where teenagers borrow and drive the cars of their parents. Insuring a teenager in his or her existing insurance will increase the premium rate of the parents. But it is still relatively cheaper than getting an individual account for a teenager.
Some teenagers have the luxury of having his or her own car. When this happens, the policy of his or her parents can not be used anymore to insure the teenager. A new policy will be required in the part of the teenager. The high premium rates for teenagers will be dramatically compounded if they will drive “risky” cars like sports cars, luxury cars, and SUVs. Parents should let their teenager drive their own car given that it is a hybrid car or better a second hand car. Driving safer cars will make the teenager appear as less risky investment to the company which will make his or her premium rate go down.
Car indemnity companies always take a great weight in considering the driving record of its policy holders. For the case of teenagers, establishing a good driving history can go along way since every part of the driving history will be accounted for. Parents should constantly remind their teenager to drive according to traffic laws and in a defensive manner.
Following these simple tips will surely make any teenage car insurance premium rate go down. The key to insuring teenagers with low cost car insurance is through making them appear less risky and safer.