Car insurance for teenagers is more difficult to obtain at an affordable rate than for an adult with a history of good driving.
Because of that, if you are looking for insurance for your teen, make sure you know the ins and outs of how you drive the price down for the lowest possible premium.
A lot of families do the usual thing: simply add teenagers to the family’s existing car insurance policy. It's the easiest option, but not necessarily the cheapest.
Teenage drivers pose different risks, and
car insurance companies are aware of that fact. Thus, they can take
advantage of those potential risks to hike up the price of your insurance premiums more
It seems that there is a price hike when it comes to car insurance for teenagers, and this can be attributed to the fact that teenagers are considered as risky drivers.
Check any car accident statistics in any area and you will easily see the reason why teens are considered high risk drivers.
Teenagers account for a large percentage of car accidents, and a lot of fatal car crashes involve young people between the ages 16 and 20.
Probability studies also show that teenagers are four times more likely to get involved in motor vehicle accidents than drivers in other age groups.
Aside from current statistics, teenage drivers also lack the experience in driving, which raises the risks even more. And since car insurance rates depend on the risks, car insurance for teenagers can be quite expensive.
Recent statistics attest to this, as it shows that every year, more than 5,000 teenagers die in car crashes. An even larger number, recorded at around 400,000, get physically and sometimes fatally injured.
In costs, teenagers are said to cause about 30% of the total cost of car accidents that occur in the United States. This is equal to about $26 billion dollars in all.
Alarmingly, although the teenage population makes up only 10 percent of the total population of the United States, they account for 12 percent of the total number of fatal car crashes.
Fortunately, there ARE ways in which you can save on car insurance policy premiums for your teenage driver.
It is a generally accepted fact that car insurance for teenagers simply costs more money, but if you know what to do and what factors to consider, you can save as much as possible for your situation when you request a teen car insurance quote.
So what factors are important?
The type of car your teenager uses will affect the price of your teenage car insurance policy.
Since a teenage driver has higher risks of getting into an accident, you have to find a car that balances the risks out even slightly. This means you have to get your teenager a relatively safe and a practical car.
Getting your son or daughter a fast and flashy sports car, which most teenagers usually want to drive, means an affordable car insurance teen policy will be nearly impossible to achieve.
To keep the costs down, look for a safe, practical car with lower horsepower rating. You should also go for cars with lower theft rates. Get a car that’s sturdy, though a bit bulkier and heavier. This will not only bring the insurance costs down, but also help save your teenager’s life since such cars are harder to maneuver and drive fast. Thus, your teenage driver will be forced to slow down and drive more carefully.
A teenager’s driving record is one of the most important factors that insurance companies consider when it comes to car insurance for teenagers. Make sure your teenager knows the importance of keeping a good driving record. Even minor car accidents and speeding tickets can hike up the price of your car insurance policy for teens.
A good driving record coupled by good performance in a driver’s education course can help you get better rates. Most states require attendance in driver’s education classes, while a few do not. However, the value of such programs for car insurance companies is the same.
So whether your state requires it or not, look for a good driver’s education program for your teenager to join. Even those offered by local high schools and community colleges will be enough to bring down the cost of your insurance premiums.
Of course, effective car safety education will always begin at home, so parents should also do their part in educating their children about being responsible drivers. Setting a good example will also go a long way.
For additional savings, you can usually take advantage of a number of special discounts for teenage drivers.
For example, if your teenager has kept up a good grade point average, most insurance companies will offer you a good student discount. If that applies in your situation, be sure to have a copy of their grades and request the discount in your teen car insurance quote.
This is not a baseless discount. Statistics show that a student’s school record helps support a teenager’s credibility when it comes to how they will drive. Students who get better grades are found to be more responsible, which means they will most likely exercise a greater level of responsibility when driving as well, hence the discounted car insurance rates.
Another discount available when quoting car insurance for teenagers is a reduction for teens who take a special driver safety course. This is in addition to the mandated drivers education. There are specific safe driving programs available that will not only improve your ability as a teen behind the wheel, but will save you money on your insurance premiums.
Finally, a discount is available from many auto insurance companies for those who have special safety features on their vehicles. Ask your prospective insurer what features you can use for additional savings and even if they have any other discounts available that you might not be aware of. It never hurts to ask!
Teenagers do run a greater risk of getting into car accidents due to youth, inexperience, modern day distractions, and more. Minimize the risk to your children by ensuring they have the best drivers education and safe driving courses available to you, and that they have a realistic understanding of all the dangers they potentially face and the lasting consequences of unwise behavior.
Having done all you can on the home front, take advantage of all of the possible ways you can save money when you go for your teen car insurance quote. You really can save money on car insurance for teenagers if you put that little extra time and effort into the process.