Do you want to have cheaper teen auto insurance? It can be done. However, first, it will be beneficial to be informed why insurance for teens is the most expensive policy of all. According to statistics, teen drivers have the worst driving records and they are involved in most vehicular accidents on the road. In addition, 16 and 17-year-olds are said to have accident rates that are almost 6 times higher than drivers with ages ranging from 30 to 59. Isn’t that high? That is why insurers see to it that their policies do not include teens because they will just cause them trouble. However, for some companies who do offer teen auto insurance, they charge extremely high premiums.
As parents, you should not be surprised to see a 50% to 100% increase in your rates when you have a teen driver included in your policy. Most companies base their rates on these factors:
- Driver’s age and sex
- Driving record or driver’s history
- Location or neighborhood where the vehicle will be used
- Type or kind of vehicle
Although you cannot change some of these factors, there are still ways to get discounts to reduce your expenses. You can choose a vehicle which is considered low-risk. Four-door cars obtain cheaper premiums than two-door vehicles. Moreover, make sure that there are security devices installed in your car to reduce the chances of your car getting stolen. Another important thing you should remember before buying a car is to ensure your teen driver knows how to drive that certain vehicle. If he does not, it would spell higher rates in your teen auto insurance.
Like any other insurance policies, it pays off in the long run if you shop for quotes, preferably online. Aside from getting cheaper rates, you can also prepare your teen driver’s qualifications and the discounts he can get. Speaking of discounts, if you are not yet familiar with the discounts for teen auto insurance, then take a look at some of them.
• Good academic performance (an average grade of 3.0 or higher)
• Supplementary driving courses
• Taking driving lessons recognized by the insurance company
• Doing community service in the past
• Having multiple policies insured in one company
Remember that these discounts can be obtained if you ask for them. Some insurance companies never offer discounts unless they are asked by their clients. Inform them that you need ways to lower your policy and they would be more than willing to respond.