Car Insurance For Teenagers

Car Insurance For Teenagers
Car insurance for teenagers can be an exhilarating and expensive requirement for a parent who has embarked on the driving years of their child. It is nearly impossible to avoid hefty premium increases when purchasing this type of coverage. With studies reporting that drivers between the ages of sixteen and nineteen being 4 times more likely to be involved in a car crash than any other age group, car insurance for a teenager is going to cost excess money. The increases in premiums can raise the parent's payments thousands of dollars. The premiums can double in some circumstances. Although the cost will eventually go down in time, planning to purchase can save money. Personal circumstances will affect the policy rates, but knowing what lies ahead can be most beneficial. Remember, "The plans of the diligent lead to profit as surely as haste leads to poverty." (Proverbs 21:5)When looking at different plans, it will make a big difference if the parent adds the teen to their policy as opposed to letting the teen purchase an individual policy. What kind of auto the teen drives can also be an added expense. The more expensive the car, the higher the car insurance for a teenager is going to be. A little sports car may not be the best choice when a parent is looking for affordable car insurance for teenagers. The old clunker may well be worth the purchase. Other factors in determining the price for coverage is how the child is listed on the policy. If listed as an occasional driver, the rates may be lower.There are discounts available for teen drivers. The child can take a drivers education course, maintain a good driving record and also have good student grades. These factors can affect the price of car insurance for a teenager. Holding a "B' average or a 3.0 GPA may save a few dollars. One parking ticket alone can send the rates of car insurance for teenagers sky high. Due to the liability of teenage drivers, the rates will raise proportionally. If a parent is adding a teen to their policy, owning a home or insuring several vehicles with the same agency can also get a discount for the added policyholder. Since most of the time, the expense will be dramatic; shopping around for car insurance for a teenager can pay off. A parent may also consider increasing the deductible for the auto insured for the teen, this may also lower the premiums. With all the different variables affecting price, comparison shopping is a must.