| Low Cost Teenagers' Automobile Insurance - How Your Teen Driver Can Help You Reduce Costs |
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| Written by Chimezirim Odimba |
| Friday, 09 April 2010 18:47 |
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So your teen is now old enough to drive? It's a happy moment. It's also a time many parents dread. One thing is sure: The family budget is going to go up due to the addition of a teen driver to the family's auto insurance policy. The family must make more provision for extra expenses on gas and possibly a new car. You'll better appreciate parents' concern if you consider the fact that the addition of just one teen driver could raise their rates by up to 300%. If you're really worried, there's help. There are actions that will help you keep rates down. Following are several (I will list several things and then dwell more on just one (the last point))...
So your teen is now old enough to drive? This is supposed to be a happy moment but it seems to come with mixed feelings. Mixed feelings because they know their family budget is about to spiral up. Could you imagine the additional cost of gas? This teen driver's addition to their policy is going to increase by up to three times. Thankfully, though, this situation is NOT like the weather. You can do more than talk about them. There are steps that make a difference. Let's take a look at them (I will list several things and then dwell more on just one (the last point))... 1. Make sure your teen is responsible for at least part of his/her auto insurance rate. If they are responsible for paying part of the bills they'll be more open to suggestions that will reduce your rate. 2. It's a good idea to make them secondary drivers on an auto insurance policy. And, if you have an old vehicle, use it for them and go for the minimum required by law. 3. Let your kid learn to drive at a driving school and NOT on their own. If, for any reason, they've already learnt on their own or from peers, make sure they take a course in defensive driving. Taking such a step will reduce the risk perception associated with their profile -- This means cheaper rates. 4. Let your teen know that good grades will help them get better rates. The good student discount is something insurers reserve for students who maintain a minimum of B's. 5. For your kid to stay safer and for you to pay less on auto insurance premiums, make sure your teen's car has a very high safety rating. 6. Let them use the public mass transit whenever they can. It will cut down mileage and reduce your rates. Toss in savings on gas, and you have even more reasons to encourage this. 7. Teens are very comfortable with the internet (We all know how hard it is to get them off those screens). So it might serve you better to have them handle the quoting process... It's almost certain they'll do a better job getting and comparing quotes from a wide range of insurers. They have more time on their hands and are definitely more comfortable with the internet. Explain what you need to them: Superior coverage at the cheapest rate possible. Let them know that the wider the range of insurers they get their quotes from, the better for them. Let them shortlist the most affordable quotes. You can bring your insight into this and help pick the best for your needs. This could help you save from a few dollars to perhaps a thousand if done right. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. There are sites that enable you save much more both by sharing tips and making sure you get the best quotes. Here are are couple of such: car insurance comparison and compare car insurance prices. Chimezirim has helped many people realize big savings on insurance. |