Being a parent is rarely easy. Is it ultimately rewarding and worth all the sacrifices that one must make? Yes. Easy? Not by a long shot. There is no higher responsibility in our lives than that of raising a child. And the difficulties do not seem to decrease as the child grows up. In fact, it seems to be quite the opposite and the challenges swell as the child enters the dreaded… teenager years !
“Mom and Dad, I need to borrow the car!”
Any parent that has a teenager 16 years or older is intimately familiar with that phrase. Notice how we said phrase and not question. Teenagers seem to believe that it’s their right to use the family car, not a privilege. This of course has caused innumerable arguments in households across the country. And, ultimately, due to one reason or other, most parents come to the realization that their son or daughter is going to drive the family car, or possibly purchase a vehicle of their own.
The question then arises of what to do about the teenager’s car insurance. Unfortunately, teens are deemed to be a risky demographic by auto insurance companies. They will be socked with high insurance rates. So what’s a parent to do? Here are some tips that will help keep the teenager’s insurance costs down and will also help maintain the parent’s sanity.
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Keep Your Child Under Your Policy
It is extremely difficult for teenagers to purchase car insurance on their own. Many car insurance companies simply won’t underwrite them; teens pose too much of a liability. Even if a teenager does find an insurance company that agrees to cover them, they will face exceptionally high insurance premiums.
The most logical decision is to place the teenager under the parent’s insurance policy. Unfortunately, you will see a bump in your insurance rates, but your teen will be able to enjoy the benefits of your auto insurance coverage. They will see discounts such as multi-line and multi-car that most likely they would not have been able to earn on their own. Also, your driving experience and record will get them a lower rate than would be possible if they flew solo. There are some drawbacks to this – namely, any tickets the teen receives or accidents they are involved will directly affect your rates. But if the teen has to drive (and lord knows they do) this is the most reasonable option for all involved.
Make Sure They Drive An Inexpensive Car
One benefit of keeping your teenager under your auto insurance policy is that you have more of a say into what car they drive. Since it is your policy, you are the final decision maker. And one decision that will save you and your son or daughter money is to make sure they drive an inexpensive vehicle. It’s pretty simple equation to understand – more expensive cars are more expensive to insure. The auto insurance companies face a greater loss potential and will charge you accordingly.
However, this goes beyond simply a car’s price tag. The make and model of a vehicle also play a significant role in determining the cost of an insurance policy. A relatively inexpensive sports car may still cost a lot to insure based on other various factors. That particular car may be prone to getting into accidents, have a lack of safety features, and could be a popular choice among car thieves. Car insurance companies have determined that certain vehicles have a high probability of filing a claim.
There are a few questions that every parent should ask themselves when deciding on the appropriate car for the teenage son or daughter. What safety features does the car come equipped with? Is the model frequently stolen? Are there anti-theft devices installed? What’s the safety record of this particular model? How has it performed on crash tests? All of this information is readily available on the Internet. Doing this research will involve time and effort on your part. But it will also save you and your teenager money on car insurance and could help make them safer on the road.
Monitor Your Teenager’s Driving Habits
There’s nothing that irks teenagers more than having their personal lives and personal space intruded upon. But this is one area you have to stick your nose in – especially if your teen is under your policy. It’s not good enough to simply watch them drive off and hope for the best. Every parent needs to be aware of how the teen is using the car set boundaries accordingly. Make sure that you’re aware of who is riding with your teen. Are they trustworthy?
Also, it might be good idea to limit how people your teen drives around. The less people in the car the less chance there is for your teen to get distracted. It only takes a second of them not paying attention to make a serious error. Another idea might be to restrict your teen’s use of the vehicle to certain hours of the day. One rule might be to not allow the teen to drive the car after ten p.m.
It’s up to you to decide what boundaries are best for you and your teen. And as your teen proves to be more responsible, more freedoms can be granted. All of this is subject to your discretion. The important thing is to be involved and active. The more engage your teen and monitor their driving habits, the less chance there is that they will make a costly error.
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Make Them Pay For Their Own Insurance
Now just because your teen is under your auto insurance policy doesn’t mean they should get a free ride. We recommend you have them pay their own way, if possible. There are number of benefits that come from this. First and foremost, if your teen is paying for their insurance out of their own pocket, then that means that you aren’t paying for it (hey, you’ve bought them enough already, right?).
Secondly, it gives them more of a reason to practice safe driving habits. It is reasonable to assume a teen will think twice about speeding if they are going have to pay for the consequences when it comes to their insurance. And believe us, these consequences will not be cheap, especially if factored over the long term. It gives your teen yet another reason to drive safely and responsibly. If they happen to make a mistake it cost will them where it might hurt the most – right in the wallet or purse.
Look Into The Discounts That Are Available
Alright, we have explored a lot of the negatives that comes with having a teenager driving and the risk and expenditures that it entails. But there are benefits and discounts available that tailored specifically to teenagers. One of these is the “Good Student Discount.” This discount is a reward that auto insurance companies offer to students who received good grades in school. So do car insurance companies believe so passionately in education that they are attempting to bribe teenagers?
Perhaps, but insurance have more monetary issues in mind. Studies have shown that teens that do well in school are less likely to get into accidents and file claims. We don’t have the space here to hypothesize why this may be the case, but what parents need to know is that if their son or daughter maintains a “B” average, they will a significant discount on their car insurance premium. The discount can be as large as 20%, depending on the individual insurance company.
Another discount made for teens is the “driver’s education course” discount. In order to earn this, a teen must earn a certificate from a certified driver’s education program. There are many such programs available. Check with your DMV and see which one is offered in your area.
Get Multiple Online Insurance Quotes
Parents need to explore of their options when deciding upon their child’s auto insurance. In order to find the most inexpensive auto insurance that is available for you and your teenager, you have to see what different auto insurance companies will offer you. No doubt most parents are aware that auto insurance companies charge different rates. But you can’t find out what these rates are unless you seek them out, right? Well, we here at Cheap Quotes Car Insurance have made it easy for you. We have partnered with the nation’s leading auto insurance companies so you can compare auto insurance rates in one convenient place. So, what are you waiting for? Get multiple quotes and start saving on car insurance today!