When it comes to car insurance rates, it can feel like teenagers are unfairly singled out. They face dramatically higher premiums than other age group. What’s the reasoning behind this age based discrimination? Well, auto insurance companies justify these higher rates based on something that is actually very hard to argue with – the facts.
According to the National Safety Council, teenagers are three times as likely to get into a fatal accident than any other age group. In a recent report done by AAA, teens between the ages of 15 and 17 cause 34 billion dollars in damage due to car accidents in 2006. Teens were involved in 974,000 crashes, which injured 405,427 people in that year.
These are some pretty startling numbers, and this is what earns teenagers the designation as a “high-risk” age group when it comes to car insurance. Of course, high risk equals high insurance rates. But this doesn’t mean that you or your teen should be content with paying high insurance costs. You can fight back with proactive strategies that earn discounts and reduce risks. In a short amount of time, you can greatly reduce how much your teen pays for car insurance
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Put Teen Drivers Under Your Policy
Parents should place teen drivers under their auto insurance policy. First of all, it may be hard for teenagers to secure car insurance on their own. And if they do, they will pay extremely high rates. But if the teen is added to a parent’s policy, their rates will be much lower. Your teen will be granted the discounts that you have earned and will be able to save some cash.
Good Student Discounts
Auto insurance companies offer discounts to teens who earn good grades in school. These discounts are nothing to scoff at – some insurance companies offer as much as 25% off the premium if the teen maintains at least at B average. Parents should encourage their children to excel at school. Cheaper car insurance rates are just another reason for teens to hit the books and spend more time studying.
Driver Education Classes
Car insurance companies will reward teens who have successfully completed driver education courses with discounted insurance rates. There is a correlation between the reduction in the number of accidents and teen who has taken driver education courses. Again, this can result in some serious discounts – between 10% and 25% depending on the insurance company.
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Make Sure Teens Are Driving The “Right” Car
What exactly is the “right” car? To explain, lets point out what could be considered the “wrong” car for teens – the flashy sports car. A sports car is very large temptation for a young, inexperienced driver. It’s like a green light that begs them to drive fast and recklessly. They are often not ready to handle the responsibility that comes with owning a high-octane sports car. This type of car can lead to more traffic tickets and possibly even accidents.
Teen drivers should only get behind the wheel of proven safe automobile. Cars that have a high safety rating, with modern safety features installed are the “right” cars for teens. These may not be the type of automobiles that will impress their friends, but they will reduce the teens’ car insurance rates.
Set Rules
Driving an automobile is a privilege, not a right. And with this privilege comes enormous responsibility. Parents should lay down rules that restrict the teenager’s driving abilities. For instance, it might be a good idea to limit how many of their friends can ride in the car at one time. This will lessen the amount of distractions inside the car, allowing the teen to focus on the road. Setting a curfew is also a good idea. Another tactic could be to threaten to suspend driving privileges if the teenager receives a speeding ticket.
Alcohol and driving is a dangerous, and too often deadly, mixture. Parents need to sternly warn their teens about the consequences of drinking and driving. Only one incident can lead to tragedy.
Get An Online Quote
Teenagers need to explore multiple options in order to find the cheapest car insurance quote available. Start here at Cheap Quotes Car Insurance and find the most affordable car insurance rates for your teenager today!