Allowing your child to drive is a double-edged sword. It can be extremely freeing to let them transport themselves places, but it can also be scary, given the risks and dangers associated with being out on the road. One of the most important ways to make sure that teenage drivers (and you, their parents) are adequately covered in case of accident or emergency is to obtain a great car insurance policy. Having the right car insurance can save you lots of money and time in case of accidental damage or injury.
The most common way for parents to insure their teenage drivers is by adding them on to their existing insurance policy. This is an easy and convenient way to guarantee their insurance, but it can cause your premiums to skyrocket. Teenage drivers almost always have higher insurance rates than adult drivers. Insurance companies charge more to insure a young driver because of their inexperience; they are much more likely to get in an accident than someone who is a seasoned veteran of the road. Most rates tend to drop by the time a driver is 25, but before then, there are some ways to control insurance rates for teenage drivers.
If purchasing a policy is too expensive and you opt to add your teen to your own, check and see if your provider will allow him or her to be added as an occasional driver instead of a full-time driver, which will make your premium less costly. Also, you can choose to add your teen as a driver to your least expensive car; this will minimize the amount of the spike.
There are some additional ways to receive discounts for your teen's car insurance. First, many insurance providers offer discounts to students who get good grades. Save his or her report card and send it into your insurance company, and you might see a significant decrease in your premium. Also, many insurance providers offer discounts if your child takes driver safety classes, watches a DVD on defensive driving, or reads a book on car safety and takes a test. The benefits of undertaking these small steps can be huge; some companies offer discounts as high as 20 percent for bettering your teen driver's education.
Finally, there are some things you can do to help control what you are spending for insurance when your teen begins to drive. First, get (or have) a very safe car. Not only will this lower insurance costs, but it will also help you sleep better at night with the lowered risk of your teen getting into an accident. Also, if you drive an old car or one that already has some cosmetic damage, consider dropping collision or comprehensive coverage entirely. Cars with little value often cost more in premiums than what you would get back from an insurance company if your car was ever totaled.
If your teen is going to start driving soon and you want more information about how to insure him or her, and how to do it in the most cost effective way, call Knight-Dik Insurance Agency at (800) 268-6353. We can help you get the best Worcester auto insurance for the least amount of money.
Also Read: How Insurance Works