With the summer season upon us, many teens are back in school taking driver education courses.
AAA Insurance reminds parents that putting a teen on your car insurance policy can double your insurance premium. Why? Teenagers represent seven percent of all drivers, yet they are involved in one out of every four car crashes.
To take the sting out of the added expense some insurance companies offer discounts for good students and for teens that complete a formal driver training program.
To save even more, parents may want to consider sharing a vehicle with their teen. A teen listed as an occasional or secondary driver is less expensive. When shopping for a car for your teen, check its insurance rating with your agent before you make your purchase. Expect to pay more in insurance costs if buying a high-performance vehicle or one with a high insurance rating. Instead, shop for a vehicle that provides a high safety rating combined with a low insurance rating.
To lower the rate even further, consider a safe, older model vehicle in which collision and comprehensive coverage are optional. Keep in mind that if you have a loan on the vehicle, comprehensive and collision is usually required by the financing agency.
If your teen is going off to college and leaving the car at home, notify your insurance agent as this may help to reduce your insurance premium. Traffic citations and chargeable accidents can increase young driver’s auto insurance premium significantly. For that reason, you may want to continue to supervise your teen’s driving habits even after they have relinquished their Learner’s Permit for a Provisional Operator’s Permit.
In addition, parents should provide plenty of supervised driving when roads are snowy, icy or wet.