Car insurance policies for young drivers
No matter what state you live in, having young driver indemnity coverage is a must. Teens necessitate to realize that it ‘s a part of the province of owning or driving a fomite ; it’s not an option to go without car insurance. Most insurance companies have special car insurance for youthful drivers. It ‘s important to learn what the policies entail, including coverage limits. Some parents add extra coverage when they seek car indemnity for teens as a precaution.
When should I consider purchasing auto insurance for my teen?
Purchasing car policy for teens typically occurs after they pass a driving test and get their licenses. Before obtaining a driver’s license, young drivers with a learner ‘s let should besides be covered under an car policy. Most car policies will cover teens with a apprentice ‘s permit that are driving the car of an pornographic in the same family, but it ‘s never a bad theme to confirm coverage with your car indemnity supplier.
Most indemnity agencies will require accredited drivers — even teens — living in the same family to be covered. Younger drivers are typically added to their parent ‘s policy as it ‘s normally more low-cost. The insurance laws do vary from state to state, so it’s always a commodity mind to speak to your agent about youthful driver indemnity as your child approaches driving senesce.
Teen driver insurance providers
about all insurance companies can underwrite a car indemnity policy for teens even though many raw drivers end up on their parent ‘s policy arsenic soon as they get their driver ‘s license.
however, for new drivers who are shopping for their own car policy, it ‘s a commodity idea to inquiry the companies that are within your coverage area.
once you ‘ve narrowed down your selections, it ‘s time to consider the factors that go into making a final decision on what constitutes the best young driver policy for you.
Factors to consider when choosing an insurance provider
- Price – this is probably the single most important
factor that teen drivers or their parents consider, and for good
younger drivers are generally inexperienced, auto insurance rates for teens are often higher than those of an
established driver. For this reason, it’s advisable to shop around
for the best price, but don’t rely on this factor alone.
- Coverage – another important factor when
considering a young driver insurance policy is the amount of
coverage provided. There is no one-size-fits-all policy;
the factors that influence the decision of how much coverage should
be purchased differ from person to person. Some drivers only need
collision coverage while others will need a comprehensive policy.
However, for younger drivers, it is advisable to have a higher level
of coverage, even if they drive a car that has already been paid for
in full. Look for higher deductibles on car
insurance for teens as that often lowers the monthly rate.
- Customer service – not all auto insurance companies
are created equal. Some are well touted for their attention to
detail and excellent customer service skills, especially when
handling car insurance for young drivers. It’s important to research
companies and individual agents, to see what others have experienced
when dealing with a claim or policy change request.
- Discount programs – everyone loves to save money,
and teens and their parents are no exception. When shopping for
young driver insurance, ask your agent about any qualifying
discounts that may be available. These can help drop the rates, in
some cases significantly.
The cost of insuring young drivers
There are several considerations that go into the monetary value of insuring new drivers. The total of driving have, the type of license they have, and the make and model of their vehicle are three things at which indemnity companies look. typically, a longer tug history and clean criminal record will lower rates. Most young drivers operate with a license to drive personal vehicles, but drivers with a license to operate larger vehicles such as busses and trucks with dense towing capabilities may pay higher premiums for policy as their vehicles and towed items may cost more to cover. Newer cars can besides increase the cost of insurance because of the greater value of the vehicle compared to older models.
- Adding to an existing policy – Parents who opt to
add their young drivers onto their existing policy will see an
increase in their overall insurance premium. However, it’s easier
for new, inexperienced drivers to become insured this way. The young
driver insurance policy cost won’t increase as much if the child is
driving mom or dad’s car. If they are driving their own vehicle, the
existing rate could increase by a few hundred dollars a month.
- Opening a new policy – Opening a new car insurance
policy for teens isn’t often recommended because of the high cost.
Insurance companies consider these young drivers a higher risk and
as such, it’s not uncommon for an auto insurance policy for teens to
cost upwards of a thousand dollars per year. Many teens can’t afford
these rates, even if they are working full time. It’s not impossible
to find affordable car insurance for teens, especially if the
vehicle being driven is older and doesn’t require comprehensive
Saving on teen auto insurance
As with any young driver insurance policy, there are ways for teens to reduce their rates. Let’s look at a few unlike ways to lower that circular.
- Student discounts for good grades – insurance
companies like to reward teens who show responsibility and keep up
their grades. These discounts are typically offered to young drivers
between the ages of 16 and 24, though some insurance agencies may
have other ranges. While the grade requirement may vary between
providers, a common qualification for a good student discount is to
maintain a B average in high school or college, with proof of
grades. The amount or percentage discounted on car insurance for
young drivers varies per agency, but it’s worth making an inquiry.
- Loyalty discounts – loyalty discounts come as teens
and young drivers maintain their policies with a specific agency or
agent. The longer they keep a policy with the company and keep their
account in good standing, typically the better the discount.
- Safe driver discounts – driving safely is a must
and insurance companies measure this by looking at the number of
traffic violation tickets and accidents a driver has. Even
teens can qualify for safe driver discounts on their
insurance policy if they maintain an impeccable record. Some
agencies even offer a tracker to reduce rates. You simply install it
in the car and the tracker monitors the driver’s habits. Discounts
can be offered to those who follow the speed limits and traffic