Cheap Auto Insurance Quotes For Teens Take Time And Effort To Locate
Parents looking into acquiring cheap auto insurance for teens often face difficulties, as do teen drivers looking for the same. If a parent adds an inexperienced motorist to their policy, their own auto insurance premium can double. Why is insurance expensive for teen drivers and what can be done to reduce the cost? This is what we will talk about in this article.
The main reason for the rarity of cheap auto insurance rates for teenagers in the US, is that vehicle-related injuries are the largest threat to teenagers here. The second reason is that the majority of insurers see teens as the riskiest drivers. According to statistics, thousands of teenagers die each year due to injuries sustained in car crashes, and hundreds of thousands suffer non-fatal bodily injuries from car crashes. It costs billions of dollars to cover teens who suffer injuries. When insurers look at figures like these, they tend to increase premium rates.
Teens (especially newly licensed teenagers) are 4 times likelier to be in an accident than those over 20. The 1st year of driving is the riskiest. Insurance tends to cost the most during this period of time. Male teenage drivers face a larger challenge in finding lower insurance rates than females do, because male teenage drivers are about 3 times “costlier” for insurers than female teenage drivers.
Even though insurance is very costly for teenagers, driving without car insurance is yet costlier; this is due to fines, penalties and the inevitability of paying for an accident out of your pocket. But the truth is that parents and youth can find cheaper auto insurance. How? Here are some good tips:
- Consider Certified Driving Courses: Insurance companies know that these courses can address the risky behaviors that some teenage drivers show. These programs teach the following: to avoid speeding and tailgating, to wear seat belts, not to drink and drive, not to have too many people in the car, etc. They also teach how to drive safely at night and in different road conditions. Most states offer these programs. After obtaining a certificate, you can expect to receive at least 5% off of your insurance rate.
- Consider Your Vehicle: Sports cars are the dream for many teens, but safer and less expensive cars are the way to go if you want to locate cheaper car insurance for a teenager. If the vehicle is financed, the lender will require more coverage; thus, purchasing a cheaper auto outright can also help to reduce your rates.
- Strive For Good Grades: Insurance companies reward teens with a B average or better. This is due to the fact that many studies show that there’s a correlation between driving patterns and good academic grades.
- Consider The Area: Families living in rural areas usually pay less than those living in cities. Also, if you drive on the interstates and major highways – it’s going to cost more to insure you; if you drive in suburban and rural areas – this should reduce your rate.
- Shop Around: Insurance companies are competitive in their nature. So, do explore all options available and you will find the cheapest plans that will meet your budget.
How much coverage does a teen need? Consider buying more than what’s required by law – buy enough to cover an inexperienced driver, including one’s liabilities and personal injuries in serious accidents.
