If you’re the parent of a teenager who is getting ready to climb behind the steering wheel, insuring your new driver can be an expensive endeavor. This is because the risk of motor vehicle crashes is higher among 16- to 19-year-olds than among any other age group. We’ve gathered some helpful tips to help you keep your premiums as low as possible while keeping your teen driver safe and accident-free:
Add Your Teen to Your Auto Policy
Rather than setting up an independent policy for your teen driver, consider adding him or her as an additional driver on your auto insurance policy. Also, if you have more than one vehicle, keep costs down by designating which vehicle your child will be driving.
Deductible Considerations
Auto deductibles typically range from $250 to $1,000. By increasing your deductible and using your insurance for large repairs, you can significantly reduce your premium.
Ask About a Student Discount
If your teenager maintains a high grade point average (GPA), he or she may qualifiy for a rate discount.
Weigh Your Buying Decision
While buying your teenager a new car with the latest and greatest features is an exciting thought, you may be better off purchasing a safe, reliable, used vehicle if you’re looking to save on premium prices.
Set High Safety Expectations and Minimize Distracted Driving
Teens can get distracted easily. To help reduce potential accidents:
- Restrict your teen’s nighttime driving
- Do not allow them to drive with more than one other person in the car
- Ban cell phone use while driving
- Ride with your child occasionally to make sure they are keeping up with the safety habits that they learned in driver’s education
Check out our article 6 Defensive Driving Tips to Avoid Reckless Driving for additional safety tips.
Conclusion
Van Wyk exists so you have peace of mind when it comes to your business, employees, and family. For questions about how a teen driver might affect your auto policy, contact us today via the form below.
Check out our Personal Solutionswebpage to learn more about the risk management solutions we offer to families like yours, and be sure to like us on Facebook and follow us on LinkedIn for more safety tips and risk management news!
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