Teen driver insurance information for every parent.
One of the most exciting and terrifying moments for any parent comes the first time you hand your teen the keys to the family car and watch them drive away alone. You trust your child, and you’ve either taught them well or hired a professional to do so. Still, there may not be anything quite as scary as the moment when those taillights disappear from view.
Having a solid automobile insurance policy for your teen driver is more than just a good idea. It is absolutely necessary if you’re going to have any peace of mind when they’re on the road without you. Insuring a teenager will not be cheap, but there are some ways that you can manage the expense and still get all of the coverage you need.
Before you buy
Most auto policies will offer discounts to teen drivers who maintain good grades in school, usually rewarding a B average with some not insignificant savings.
The vehicle your teenager drives will significantly impact the cost of your auto policy, so make sure when shopping for your teen’s first car that you look for reliability, not flash. Choosing a car with good safety ratings and consumer reviews will help to keep your premiums from getting too out of control.
Also, choose a car that is not so old that it will need constant maintenance, but isn’t so new that repairing it will break the bank. Color is also a factor, since the driver of a red car is more likely to be pulled over and ticketed than the driver of a silver car. It can get a little confusing, but most insurance companies keep a list of vehicles and the cost of insuring them, having a copy of that list in your hand while you shop is a very good idea.
Many companies will also offer a discount if you send your child to receive some extra driving instruction. Most states require a minimum number of hours of instruction spent with a certified professional. It’s worth investigating whether or not throwing a few more hours or days onto that time will save you money.
Selecting the company and policy
Never underestimate the value of true comparison shopping. It can be time consuming and frustrating, but if done right it will ensure you get the most out of your money and that you feel confident in your purchase.
Beginning with your current company, research whether it will be better to add your child to your own policy or get them one of their own. Investigate teen discounts with your own company as well as any competitors you’re considering.
Ask about promotional offers, and discuss with your current provider the fact that you’re shopping around. They may be willing to go the extra mile to try to keep you. Don’t switch providers without careful consideration. Being a long-term customer can have some very real advantages.
Remember, an ounce of prevention is better than a pound of cure. Better to spend a little on a good insurance policy now than to have to hire a car accident lawyer later on.
Please Note: Articles posted by guest writers are monitored but in no way do they reflect the opinion nor is this publication affiliated in any way with the subject or promotion of a subject.