One of the most popular dreams of teenagers is to get their own car while on college. But owning a car means purchasing car insurance. This is required for you to stay protected against great financial loss for the teenager’s parents.
Just like older car owners, there are requirements needed in filing for a student policy. Both parents ands their teenagers can also find ways to avail discounts for their policy.
Companies will ask for the personal information of the teenager driver. Age and gender will be known. They will also investigate the future client about his/her the driving history, driving frequency and distance. Even the location of the vehicle and its damage history are known. This essential information also applies to all other applicants.
Age is important because the younger the driver is, the higher the premium will be. Older drivers are perceived by car insurance companies to be more skilled and experienced in driving on the road. Gender is also a great consideration for giving the teenagers their premiums. Women pay lower premiums than men.
Parents should have guided their teenagers about traffic laws to avoid many violations. Their teenager’s car should not be involved in accident for the previous years. Several violations and accidents will be a serious factor that would increase the premiums.
The car of the teenager should be located in safe areas, especially the parking area. The car insurance rates for unsafe locations are expensive because it is prone to accidents.
Parents should also advice their teenager driver to limit their driving frequency and distance. Weekend vacations that require cars should be minimized to avoid high rate.
Maintaining a good grade can also lower the teenager’s rate. The GPA should be over 3.0 to avail for discounts up to 15 percent.
They can also get discounts buy buying a second hand car for their teenager. If their teenager is driving an older model car, it would only require cheaper repairs. The son or daughter is very likely to buy liability car insurance coverage only.
Having an insurance while in college is an advantage, especially in the future. Companies offer discounts on the premiums if they will discovered that their clients have their policies when they were young. The teenager driver will also able to build a reputation of a responsible driver.
Another way parents can take in lowering the cost of their teen’s car insurance is to shop around. Comparing rates from company to company will likely help parents to find a better rate. The Internet is a great place for comparison shopping. Since most teenagers are fairly familiar with the internet, get them involved.
Looking for cheap car insurance for young drivers is not impossible for parents. Asides from discount packages, companies will also give free driving tips and car maintenance options.
On the other hands, parents should be good facilitators by working with their child and make them a better driver so they can save money in the long run.