The statistics about young drivers aren’t great. According to the Insurance Institute for Highway Safety (IIHS), 16-year-olds get into mishaps almost 6 times more often than motorists between the Age group of 30 and 59. No wonder automobile insurance premiums are so high for this age group.
Having said that, not all vehicle insurance companies take the same dim view of teenage motorists. And some discounts are available to aid you cut prices. bear in mind, the higher the risk, the larger the cost of insurance premiums. Let this be your leading principle as you shop for insurance.
Here are 10 suggestions to help lower premiums and keep your teenager’s license free of violations:
1. Help your teenager learn the laws and follow them to the letter. By far, the best way to lower car insurance costs for teens is for them to keep their driving record clear. Make safe driving a household project. In some states, limitations apply to new young drivers. mothers and fathers ought to know what the laws are and insist that their sons and daughters follow the rules .
2. Set a good example. Do you stick by the rules ? Do you shout at other drivers when you’re behind the wheel? If you do those things, how can you count on your youngsters to act differently? Look at your own driving habits long before they get their license and you’ll have a much easier time convincing the kids to be safe drivers. Remember, actions speak louder than words.
3. Put your teen on your Insurance Policy. Rather than setting up your teens own insurance policy , put them on your car insurance policy as an added driver. In this way, all the reductions applied to your policies will be passed on to them.
4. Pay your teenager to get good grades. Here’s a creative tip — find out how much you save if your teen gets a good grade point average and pass it on to them. usually, having a 3.0 or higher GPA will reduce your automobile insurance premium by 10% . Figure out precisely how much this saves you and give that money to your teenager. This will accomplish two things. First, it offers a direct reward for educational performance. Secondly, it motivates them to carry on getting good grades.
5. Enroll them in driver education courses. Reductions are offered for teenagers who take acknowledged motoring classes. But call your auto insurance company to find out which schools are covered before having to pay big bucks.
6. Stay away of sports cars. Don’t try to live vicariously through your teenager by providing them the hot car you couldn’t get in high school. Getting your teenager a safe car to drive, with the most recent safety equipment, will lower your premiums. Not only will you save money on vehicle insurance, but speeding will be less of a temptation.
7. Get their support. Don’t assume that your teen wants to empty yourpockets. Ask them for help cutting prices and point out that you will share in the savings (see rule #4). Tell them how much auto insurance costs and show them how this fits into the family finances. If nothing else, you will score points for treating them as grown ups.
8. Discuss to your kids about drugs and alcohol . This is a hard subject to discuss with kids, who think they have everything under control. But the consequences of saying nothing can be catastrophic. Take the time to lay down some recommendations in this vital area.
9. Take traffic school to beat tickets. Once a ticket is on your teenagers license, it takes months to get the violation removed. alternatively, encourage them to take traffic school if the judge will allow it. A day spent considering about the consequences of unsafe driving can bring rewards for years to come.
10. Ride with your teen. Your teenager was a safe driver last year when he or she got a license. But what has happened since then? Let your kids take the wheel while you sit back and chill out in the passenger seat. If you see them doing something that breaks rules or appears unsafe, point this out in a diplomatic way. If they are doing a good job driving, praise them for their efforts.
If you comply with the above recommendations, you will find that you can make it through the teenage years safely — and without paying an arm and a leg for vehicle insurance. It just takes cooperation and awareness from both sides of the generation gap.
At times a lot of personal car leasing companys will include Insurance as part of the offer, it is always best to check at the time of taking out your lease, always check the terms and conditions to confirm that Leasing offer covers teenage drivers
If you own a company it may be possible to get your teen on that policy but as above its always best to check that adding people under a certian age can make your premiums a lot greater, along with business car leasing, you may get the insurance policy to cover the teenager, but the company lease may restict such a young driver