Baca Juga : Car Insurance for Your Teen Driver
The day you've been dreading is here. Your child has just turned 16 and for some unfathomable reason, the DMV has seen it fit to give him/her a driver's permit. Not only do you have to buy him/her a car that s/he will now proceed to systematically demolish, but you also have to spring for car insurance. If the astronomical auto insurance quotes you've received are any indication, the insurance companies share your trepidation about his/her ability to navigate the roads without destroying everything in his/her path. But don't worry, we're here to help. This article will give you a few pointers on getting car insurance for your teenager.
The 'New' Car
It may seem like buying a cheap, old, Archie Comics style jalopy will save you money. Wrong. You would actually lose big bucks in the long run. A run-down car will need more repairs, more maintenance, and most likely will cost more to insure for specifically these reasons. At the same time, buying your little hoodlum a beautiful, growling sports car isn't the solution either because the insurance company will slap on a premium that will leave your head reeling. The smartest decision is to buy a used car that doesn't have too many years on it and is in good shape. Since the collision damage, the cost of repairs, and the likelihood of theft are significantly lower for used cars, you will be able to find cheap auto insurance quotes.
Auto Insurance Coverage
Teen drivers between the ages of 15 and 17 cause approximately $34 billion annually in damages, medical expenses, loss of life, and property, as asserted by the American-Automobile Association. Now, while it may be tempting to skimp on auto insurance coverage and opt for the required minimum, you may want to keep this statistic in mind. Without adequate auto insurance coverage, you might find yourself stuck in a position where you have to pay obscene sums of money to pay for medical bills and damages to property.
To add or not to add
You're probably wondering if you should add your teenage driver to your own insurance policy. Well, this is debatable. You'll have to measure the benefits of each according to your specific situation and insurance company.
But here are a few pros and cons to help you make that call
Pros: If your teen is added to your policy, s/he can avail of the discounts and privileges you enjoy. Also, compared to the premiums s/he would have to pay on his/her own, this might just work out to be cheaper.
Cons: Your own premiums rise by having a teen driver on your policy. Also, any claims, accidents or misdemeanors s/he makes will reflect on your auto insurance record and influence future premiums. Also, if your teenager had his/her own policy and miraculously turns out to be a decent driver, s/he'll be accumulating good driver's credit.
Affordable auto insurance
We saved the best for last. Your teen can actually enjoy affordable car insurance without compromising on coverage or quality! Care to find out how? Read the tips below:
Driver training credit - Some auto insurance companies offer drivers below the age of 21 a discount for completing a driver's training course. This course also leads to your child becoming a better driver, which leads to fewer accidents, transgressions and claims, which leads to a clean driving record which leads us right back to the best car insurance rates s/he can possibly get!
Good student discount - Need another reason to wish your child had inherited your intelligence? Here it is. Many auto insurance companies often offer discounts to students below the age of 25 who have an average of B+ or above. One way to turn this to your advantage is promising your teen that you give him the discount/money saved every time he qualifies for the good student discount on car insurance. Win-win, right?
Safety first - Who says insurance companies are soulless, uncaring corporations? Good car insurance companies will pay you to stay alive and stay safe. Installing air-bags or buying cars that fall into the safe-car category will get your teenager a discount from several auto insurance companies.
Protect what's yours - A car with anti-theft devices will get you yet another discount! Well, from some auto insurance companies. Hopefully yours is one of them. If not maybe it's time to start looking at car insurance quotes from companies that offer this service.
Undoubtedly there's a lot to be stressed out about when raising teenagers. You have to worry about their college education, about the opposite sex, about the funny smell coming from their rooms-oh the list is endless. But hopefully this article has alleviated your fears and concerns about your teenager's auto insurance, leaving you with one less thing to worry about!
Bethany Collins is a mother of two kids and lives with her husband. She loves travelling and writing. Her interest lies in reading finance related books, articles and blogs. She has continued writing since last 10 years on topics like car insurance, antique car insurance and several car insurance related topics.
