Tuesday, August 26, 2014, AM | Leave Comment
As you may already know, adding a teenager to your insurance rates can nearly double your insurance premium. Every single insurance company sees teenage drivers as a higher risk- sadly the statistics back up their claims!
The good news is that there are specific things that insurance companies look at that affect and even reduce the rate of the teenager’s monthly premium.
Insurance companies are always looking for any sign of responsible behavior. For this reason, most insurance companies are looking for responsible students who are capable of achieving at least a 3.0 or “B” average.
Many statistics and studies show that students who get good grades are substantially less likely to get into a car accident and offer a nice savings in return.
Some insurance companies even provide this discount to up to one year after the student has left school.
Highly Reviewed Driving Schools
Insurance companies are obsessive about responsible behavior. There is also a correlation between students who go to professional, certified driving schools.
These driving schools provide professional instructors, as well as, the necessary training tools needed to become a safe defensive driver.
In fact, a driving class can reduce the insurance bill by up to 15%! North Shore Driving School Ltd does driving lessons up in Vancouver up in Canada.
They are a good example of just how many different options out there when it comes to choosing which one is the best for your teen driver.
Maintain Discounts with Safe Driving History
Safe driving discounts are usually offered to everyone under the insurance plan; however, the discount percentages have the highest impact on teen drivers.
Furthermore, anytime a teenager gets into an “at fault accident” the many discounts offered to the entire insurance package are going to be wiped away. This includes things from major accidents to parking lot bumps.
Last but not least, it is important that your teenager avoid any type of speeding ticket that can wipe out any of the aforementioned discounts.
Choose the First Car Wisely
One of the most overlooked factors when determining teenager insurance premium pricing is the selection of their 1st car.
Many parents buy their teenagers brand new cars; however, these cars are also much more expensive to insure.
Along with that, a teenager driving a high performance car with a great deal of horsepower can raise the red flags of the insurance company in terms of premium pricing.
The ideal car would be a 3-4 year old car with as many safety features as possible. Some of these include but are not limited to: airbags, anti-lock brakes, adaptive cruise control, backup camera, and reverse back-up sensors!Facebook.com/doable.finance