For a teenager, getting a license and privilege to drive is exciting. For parents, this time can be stressful, especially when it comes to insurance rates.
You should add your child to your auto insurance policy as soon as they get behind the wheel. In some states, this means when they get their learner’s permit, in other states it means when they get their license.
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Car insurance rates go up when you add a child, so take the time to compare car insurance rates now by entering your zip code.
When you add your teen to your auto insurance policy, one thing you can safely expect is an increase in premium costs. in many cases, the premium costs up to double when a teenager is added.
Unfortunately, you can’t control some of the reasons. For example, teenage boys are more expensive to insure than teenage girls, and living in certain neighborhoods will increase your premiums.
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Check out what auto insurance rates are best for you and your child. enter your zip code to start comparing right away!
why does it cost more to insure teen drivers?
There are many reasons for this increase in insurance. the main reason is that teenagers are considered high-risk drivers. Even if you feel like you have a very responsible child, you are still more at risk than an adult driver just because of inexperience. this high-risk status continues until age 25 for men and 23 for women.
Statistically speaking, teen drivers also engage in riskier behavior behind the wheel, such as driving without a seatbelt, speeding, texting while driving, and driving with too many passengers.
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Car crashes are the leading cause of death among teens, with 16-year-olds having the highest crash rate. teens must fully understand the power of driving before getting their license.
Although this statistic is disturbing, understanding the main factors that lead to crashes among teen drivers can help. the number one reason is listed as inexperience, but the main way this occurs is through passenger distraction.
teenagers tend to pack as many passengers into a car as possible. the atmosphere in the vehicle becomes chaotic and causes accidents.
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How can I reduce the increase in car insurance rates when adding a teen driver?
Although your insurance premium will go up, there are a few ways you can help reduce the overall amount of the increase for teen drivers:
- Driver’s Education: Driver’s education discounts are the number one way to lower premiums for teens. Many high schools or states require driver education courses. if not, you can find one locally for cheap or even free
- good grades: Another way to lower premiums for teen drivers is to encourage your teen to get good grades in school. Good student discounts can be given when a student provides a copy of their report card to the insurance company. Every company calculates good grades differently, so be sure to ask if it’s based on GPA or taken grade by grade
- combine policies: Another way to save money is to combine all your policies with one company. Homeowners insurance, life insurance, boat insurance, or renters insurance can be combined with auto insurance to reduce the overall price of a premium. It’s a smart way to reduce costs and have an easy payment
what other factors increase teen driving rates?
The type of car you allow your child to drive has a big impact on auto insurance rates. SUVs and sports cars will increase your premium amount, while compact cars will lower your premium rate.
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If you or your child is buying a vehicle just for the teen to use, choose wisely. the coolest car is not always the best option.
Accidents and traffic violations within the first two years of having a license will increase premiums considerably.
In some cases, insurance companies will drop teen drivers who receive tickets within the first 18 months of being insured. This is where teaching your teen to be a safe driver.
The best thing parents can do is treat driving as a privilege and not a right. teens need consequences and they need to understand the dangers of reckless driving.
Showing your teens statistics or even videos of accidents caused by reckless drivers can be sobering. Take preventative steps before your child gets their license.
To compare auto insurance rates so you can get the best deal for your family, enter your zip code now!