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 keep your teen driver safe and accident-free while keeping your premiums as low as possible:
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 $1,000 to $2,500. By increasing your deductible and using your insurance mainly for large repairs, you may significantly reduce your premium.
Ask About a Student Discount
If your teenager maintains a high grade point average (GPA), he or she may qualify for a good student discount depending on your insurance company.
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 lower your premium prices.
Set High Expectations for Safety 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 son or daughter occasionally to make sure they are keeping up with the safety habits that they learned in driver’s education
Check out our 6 Defensive Driving Tips to Avoid Reckless Driving article for additional safety tips.
Next Steps
Van Wyk exists so you have peace of mind when it comes to your business, employees, and family. Contact us via the form below to discuss your auto policy and how adding a teen driver might affect it.
Check out our Personal Solutions webpage to learn more about the risk management solutions we offer to families like yours, and don’t forget to like us on Facebook and follow us on LinkedIn for more safety tips and risk management news!
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