The big day has come after months and even years of dread. Your child is ready to get their license but are you ready to cover the high costs that come with it? Car insurance for teens has steadily increased due to the fact that teens are considered a “high risk” to most insurance companies. Due to lack of driving experience and the fact that many teens are not responsible drivers, insurance companies hesitate to cover them.Statistics show that over 5000 teens, between 16 and 20 years of age, are killed each year in car accidents alone. So, finding a company willing to cover teens in this age bracket for a reasonable cost will take some thorough research.There are ways to help lower your costs though.
First and foremost, don’t ever sacrifice the quality of the policy you get in order to get the best price. Remember, you get what you pay for. Research insurance carriers thoroughly in order to compare their coverage, price, and discounts. The price of car insurance depends greatly on location, type of vehicle being driven, additional accessories, gender of the driver, and even the color of the vehicle and distance being driven buy a car cover for my corvette online .
Once a teen begins to drive, parents must decide whether to add their teen to their existing policy or whether to purchase a separate policy in only the teen’s name. Generally, it will be cheaper to add the teen to the parent policy rather than starting a new account.
A female driver will generally pay a much lower premium as opposed to a male of the same age. Research shows that girls are calmer and more responsible overall making insurance companies less hesitant about offering coverage.
Another factor that insurance companies look at is the year, model, and even the color of the car in which the teen will be driving. A sporty red corvette will surely hoist a much higher premium than a white older model sedan, for example. Insurance companies feel that the sportier the vehicle, the more likely teens are to act more irresponsibly in order to “show off” with activities such as racing.
Be sure to check with each insurance company to find out what discounts they offer. Many will offer generous discounts for things such as the driver taking a certified driver’s education class or defensive driving class, keeping good grades, or keeping a clean driving record free of tickets.