Everyone knows car insurance rates are typically high for teenage drivers. Statistics clearly show that teens are the demographic most likely to have automobile accidents and break traffic laws, such as speed limits. While it may not seem fair to assume that all teens will fall into these stereotypes, insurance companies know that teen drivers are riskier, which translates to higher policy premiums. However, there are some things a teen can do to qualify for more affordable insurance options:
Increase driver IQ.Teen drivers who participate in driver's education courses or defensive driving classes can often get their rates lowered. The more informed and educated teens can become about driving, the less risky most insurance companies will consider them to be.
Excel in school.Statistics show that teens who perform better in school have fewer car accidents and are less likely to get a speeding ticket. Getting good grades shows that teens are responsible, and that is likely to mean they’re equally responsible behind the wheel.
Choose a vehicle carefully.Insurance companies consider the type of car a teen will be driving when determining coverage rates. In the minds of insurers, a teen driving a sporty car is more likely to speed, drive recklessly, and have an auto accident. Opting for a sensible vehicle instead of a fast, sporty one can help a teen qualify for cheaper car insurance. Flashy vehicles are also more likely to be stolen, which makes them more expensive to insure.
Options for Parents
While many factors for getting cheap car insurance are up to the teen driver, there are some ways parents can influence premium pricing as well:
Bundle and save.Most insurance companies will offer multi-policy discounts. Bundling home insurance, auto insurance, and personal property insurance with the same insurer can often result in a discount that helps absorb the extra cost of adding a teen driver to a policy.
Lecture teens about safe driving.Teens are already more likely to be in a wreck because they lack experience behind the wheel. Additional distractions while driving only increase that risk. Talk with teens about how cell phones, rowdy passengers and other distractions can increase their likelihood of having an accident. Help them understand the horrible implications auto accidents can cause, including damage to property, loss of life, and injury or death to others or themselves.
Don't Skimp on Coverage
Remember that there's a difference between cheap car insurance and affordable car insurance. “Bargain” policies can sometimes skimp on coverage, leaving a teen and his or her family with an unexpected financial burden in the event of an accident. Finding quality, comprehensive coverage at an affordable rate is the goal. Teenagers can increase their likelihood of attaining a quality, affordable policy by researching different insurers and taking steps to be a safer driver.
