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.L
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.
7. Educate your teenagers to learn the traffic laws and follow them. There is no better way to keep car insurance costs low than for your sons/daughters to keep their driving record clean. Parents need to know the traffic laws and insist on their teenage sons and daughters adhere to them.
8. Pay attention to your own driving habits Are you setting a good example? Do you follow the speed limit, do you stop at stop signs? Are you aggressive or impatient when following slow drivers? How can you expect your children to act differently? By watching your own driving well before your sons/daughters get their license, it will be much easier convincing them to be safe drivers. Remember, actions speak louder than words.
9. Car Insurance companies offer a 10 to 15% savings if your sons/daughters can maintain a 3.0 grade point average. Find out exactly how much money you will save from your insurance company before they begin driving; Then, setup a incentive plan to pay your teenager to maintain this 3.0 GPA This accomplishes two things, it provides a great reward for academic performance and it inspires them to continue getting good grades.
10. Stay away from sport cars, your teenager is just learning to drive. They don’t need to be driving fast or showing off. Get your son/daughter a safe car to drive, with up to-date safety equipment. This will keep your premiums less and keep your teenager safe.
11. If your son/daughter gets a ticket encourage them to take traffic school if the court allows it. A day in traffic school will be time well spent and the rewards will last for many years. Once a ticket is on your teen’s license, it takes years to get the violation removed and this means increased insurance rates.
12. If you are looking for some type of peace of mind consider installing a GPS monitoring system in your teenage driver’s car and both of you will benefit. In case of an emergency or you are just checking on them you will always know where your teenager is.
13. teenSMART is a driving tutorial completed on home based computer demonstrating driving skills and immediate feedback. Includes supervised in-car driving sessions and a certificate upon course completion and passing a test. A discount up to 20% on insurance may be available. Certified teenSMART graduates have 30% fewer collisions and file 30% fewer insurance claims.
14. Make the most of other discounts. Insuring your home and auto with the same company, and maintaining a spotless driving record yourself. Since your premiums are so high right now, it’s a particularly important time for everyone in the family to avoid accidents and tickets, which can earn you a good driver discount of about 20%.
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