Statistics on teenage drivers are alarming. According to the Insurance Institute for Highway Safety (IIHS), Car accidents are the number one killer of our countries teenagers. Every year, almost 5,000 teens are killed in motor vehicle crashes and close to 400,000 are injured. Teenagers get into accidents nearly six times more frequently than drivers between the age of 30 and 59. This is the primary reason why car insurance premiums are so high for this age group.
Checking insurance rates before your teenager starts driving is alarming. According to the Insurance Information Institute adding your teenage daughter to your policy typically boosts your premium by 50 percent; adding a teenage son can more than double the price, this is before they start driving. A $100 speeding ticket can easily turn into a $1000 expense after factoring in the additional insurance costs.
Not all auto insurance companies take the same gloomy view of teenage drivers. Some discounts are available to help you cut costs. Listed are six ways to reduce your premiums and teach them to be better drivers. After reviewing visit Compare Car Insurance Now and find the best rates for you and your family.
1. Most insurers offer a good-student discount, which can shave up to 10% off their premium. Your child must have a B average or better.
2. Some auto insurance companies have their own educational programs for young drivers, which can reduce your rate by about 10%. One example is State Farm’s Steer Clear Driver Discount gives a discount for all male and unmarried female drivers under age 25 who have had no at-fault accidents or moving violations in the past three.
3. Enroll your teenager in driver education courses. Discounts will range from 10 to 15%. Most High Schools offer these classes.
4. Select the appropriate car for your teenager. The vehicle your son/daughter drives can also make a huge difference in the premium. The vehicle will not necessarily be old, however it should have up-to-date safety features. You can get a list of the safest cars from Insurance Institute for Highway Safety.
5. Raise your deductibles. By raising your deductibles to $1,000 will make a big difference in your premiums.
6. It is usually less expensive to add your son/daughter to your policy as an occasional driver, rather than getting a separate policy. This is a good time to shop around and get the lowest car insurance rates.
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