Insurance Information Institute (I.I.I.) states that insurance rates of increases by margin of 50 to 100 percent because of the increased risk related with teen drivers. Since your teen is growing fast. He must be looking for the keys of the car. Now this milestone can trouble you lately and will definitely clutch your wallet. And insurers think that teen up to 25 are more prone to serious accidents
To get an Insurance Premium that is affordable
Working jointly, both of teen and you can reduce the insurance cost with the help of various discounts.
Both of you can get auto rates that are affordable and:
Driving Record has to be clean- Accident and traffic violation by your teen can increase the insurance rates for you. A serious offence like OWI can make premiums up to thousands dollar from few hundreds dollar per year and will remain same for almost three to five years
Get yourself involved-Inform insurers about your teen involving in civic group such as the Girls Scouts of America or a volunteer because they rewards such teens
Maintaining good grades- Getting good grades in schools is rewarded by insurers by giving low auto premium -provoking them to perform well in schools.
Driving safe car- Safe cars can lower the auto insurance rate that includes new cars, mid-sized vehicles with various airbags. In addition to this I.I.I steers clear of vehicles like SUV or sports cars which provoke reckless driving.
All above factors lowers the risk of accident of your teen and lower the rates of auto insurance as well and saves your money.
Few more Tips
One of the general practices of insuring teen drivers is to place them on their own policy. As per the I.I.I., purchasing a separate policy is costlier than to add the teen in the existing policy. Get a multi car policy discount from your company for your teen if he has his own car. Hence, as with all kinds of insurances and then shopping all over before insuring the teen will help in finding out the best prices for the coverage required.
The I.I.I. recommends that parents to talk to their teen for driving safely. Teens using cell phones, listening to music or talking to friends while driving, are prone to risk of the accidents. Reminding them about reckless driving and safety measures will enforce them to maintain good habits of driving.
Do not be sure about your teen whether he will need your advice or not. A contract of Driving stating commitment from them for safe driving and punishment for reckless driving is in fashion. Clause for the "drunk driving" is included by many parents that direct teen to call them at place for a ride if they are not able to drive back their car. The majority of the parents are learning the value to incorporate a "drunk driving".
On the road get the Responsible Teen!
Open discussion about responsibilities, consequences and habit will make teen to take good decision while driving and make them safe and make your car insurance affordable.