Article 2 of 10 in Car Insurance for Specific Needs
If you have a teenage driver that has just received his or her drivers' license, it can be an exciting but worrisome time. It can also be an eye opening experience when you call your insurance company and discover the quote for your teenager's car insurance is high. However, following a few pointers can reduce your cost for insuring your young driver and teach your teen the best safe driving habits for the road ahead.
Teenage Car Insurance Policies
Insurance for young drivers can be expensive and will increase your car insurance payments because young drivers are a high risk group when it comes to calculating car insurance rates. According to the National Highway Traffic Safety Administration, for both men and women, drivers aged 16 to 19 years of age have the highest average annual crash and traffic violation rates of any other age group. Some of the reasons sited for this were:
In order to reduce the risk of young drivers causing accidents, most states have laws that restrict young drivers to a learner's permit or provisional license. These restrictions, generally based upon age and how long the driver has had their permit or license, require minimum amounts of supervised driving, set limits on passengers, restrict hours of driving, and dictate when and where teenagers are permitted to drive.
KEEP IN MIND: Insurance companies recognize the high risk involved with teenage drivers! This is why they charge higher prices for teenager car insurance policies.
Finding Teenager Car Insurance DISCOUNTS
There are some key car insurance discounts you can take advantage of to reduce your teenager's car insurance. Make a call to your insurance company and see if you can take advantage of the following:
KEEP IN MIND: These discounts remain as long as your teen driver is accident or ticket free. Incurring a ticket or having an accident may cause your young driver to not only loose these discounts but they could incur a surcharged for the ticket or accident.
Other Ways to SAVE ON TEENAGE CAR INSURANCE
In addition to the available discounts, you can work with your car insurance company to reduce your premium payments by taking a close look at your policy. Consider doing the following:
Teenagers and Cars - Purchasing a Car and Insuring More Than One Young Driver
Are you considering purchasing a car for your teen? Giving a young driver their own car to drive can increase your car insurance premiums. If you want to purchase a car for your teenager, consider purchasing an older car to reduce your insurance payments.
TIP: Cheaper vehicles might not always be the best vehicles for a young driver. Read up on safety ratings and crash tests for the vehicle. Knowing your teenage driver is in a safe vehicle can give you peace of mind and save you money.
If you have two or more young drivers in your household that share a vehicle , this can increase your car insurance premium. Auto Insurance companies usually only assign one driver to one particular car, so if two or more young drivers in your household truly share one car you should choose the least expensive driver to be assigned to the car.
TIP: You can save money by choosing the less expensive young driver (usually a female or the driver with no violations) as the dedicated driver - main driver assigned to a car.
Buying teen auto insurance doesn't have to put a dent in your pocket. Following the few tips above and asking the right questions about young driver discounts available, can save you money! To see how much you can save, click here to visit the free advice quote center and get a quote from several reputable companies.
For more information about getting the right car insurance policy to fit your needs, check out the following articles:
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