The business conditions set by insurance companies on teenage car insurance is just too expensive—enough to make a family trying to afford such car insurance suffer and more than enough to make a financially dependent teenager choose to risk the $190 fine and drive without cover.
But cheer up! There’s this lighter side of the story which involves few, easy-to-apply, clever strategies in order to make both ends meet. BBDD stands for that life-changing strategy:
Car insurance companies always consider a clean driving record, regardless of age. Since the careful driver could mean no threat to the company, there’s no reason for them to throw him a sky-high rate. But once the driver gets a speeding ticket, it indicates a liability which in turn urges them to increase the driver’s rate sky-high and make it stay that way for a long time.
Aside from a clean driving record, car insurance companies also take ‘social responsibility’ into consideration. By that, it means association with Girl Scouts, Boy Scouts and other socially oriented organizations and being well-behaved in and out of the car. In fact, teenagers that have a GPA 3.0 and above would automatically benefit from a discount.
Parents, mention these when getting insurance for your teenagers.
2) Be humble!
Assigning the person who rates the highest (the teenagers) to the most expensive cars is one trend among most car insurance companies. Of course, a person whose rate is sky-high paired with a car whose actual value rockets would equal to a profit reaching up the Milky Way. If this is the case, parents would better get their teenager an old, crumbling (still functioning) car which is the most effective way to compensate for the teenager’s extremely high equivalent rate. So mister and/or miss teenager, be humble and patient enough….you’d surely learn how to show off with a megalomaniac vintage-vintage modern junk art car!
3) Driving lessons!
Passing an accredited driver’s education course could mean insurance decrease rates as much as 15%! Insurance companies found educated drivers favorable on their part since liabilities are reduced; therefore, most insurance companies bid teenage insurance discounts over accredited driver’s education.
4) Do your math!
By calculating the amounts you will have to pay from your earnings before the insurance companies do, you will find out that this can deduct 35% from your fees. Just be creative with math and never trap yourself in the company’s one-way payment scheme. Ask them for alternatives and consider those!