Teen drivers, notorious as they are, for their driving behavior, could be racking up hundreds of dollars in auto insurance costs. In our article, teen drivers and auto insurance, we delineate some strategies that will help you save in auto insurance costs for your teen drivers. As a general rule of thumb, auto insurance companies utilize complex algorithms to decide on how much each driver should be paying and teen drivers are generally considered “high risk candidates,” resulting in higher premiums than it would cost for an adult.
At DontSpendMore.com, we are constantly looking for ways to save our readers hundreds of dollars every month and so we have compiled a list of cost-saving strategies that will help you save on auto insurance costs for your teen driver.
Focus on training your teen. Good driving habits can go a long way in helping you save on your teen driver’s auto insurance costs. In addition to driving classes offered by your local driving school, consider enrolling your teen in safe and defensive driving classes. In addition to improving your teen driver’s safety, you may be able to save on auto insurance costs for your teen driver.
Inculcate respect for rules. Teach your teen driver to respect the law and demonstrate through your own example how following rules, laws, and road signs could go a long way in improving safety and also lowering the overall cost of auto insurance. After all, a safe driving record is the most important pre-requisite toward obtaining a lower auto insurance rate.
Consider adding their name to your own policy. Some auto insurance companies will allow you to add your teen driver to your own auto insurance policy. Depending on how your record is, this may be an excellent way to lower the cost of auto insurance for teen drivers in your family.
Establish an incentive-punishment system. Reward your teen for good behavior and also setup deterring mechanisms every time she/he disobeys a traffic law.
Teach them to refrain from intoxicants. Teens are very susceptible and often utilize intoxicants and other addictive substances. Ensure they are not driving under the influence. A DUI can certainly hamper your teen’s driving record and cost you an arm and a leg in auto insurance premiums.
Monitor and reinforce. Closely observe your teen’s driving habits and monitor them when they are on the road. It is said that regular monitoring is the best way to reduce irresponsible driving behavior.
We hope you found our tips pertaining to “teen drivers and auto insurance” useful.