Teenage Drivers and Car Insurance
It can be very expensive to insure your newly licensed son or daughter. Sixteen year olds are three times as likely to be in a crash as 19 year olds, and nearly six times more likely than 20-24 year olds. Teens are the riskiest drivers on the road. Along with demographics, there are many factors that make up the insurance premium.
Insurance companies consider drivers under the age of 25 a higher-than-average risk for car accidents. This can actually cause your insurance to increase 50 to 100 percent – that is if you put them on your insurance. If they have their own insurance policy, it is a different story. It will be even more expensive.
The car they are driving is also a huge factor. Of course, they want the flashiest, coolest cars that they won’t be embarrassed to drive, however these cars are going to cost significantly more money. If your teen is driving a safe car, such as a Toyota Camry or Honda Civic, it is going to cost less to insure. Sporty cars are more expensive because cars that go fast encourage teens to drive fast, resulting in tickets and accidents. These cars should also put your mind at ease because if they are hit by another vehicle or object, these car models will be substantial for protecting them.
Insurance Discounts for Teens
Other insurance discounts can come from academics. If your teen is enrolled full time in high school or college and are receiving an average of ‘B’ or higher, you will receive a discount on your insurance. Also if your teen is involved in his/her community by participating in Eagle Scouts or Girl Scout, this can also give you a discount.
In regards to the vehicle itself, safety features can also give you financial benefits. Features such as anti-lock brakes, traction control, automatic seat belts, and side-impact air bags.
However, this does not mean that you should buy a brand new car with these features. A new car will actually raise your insurance premium.
In order to find the best insurance for your teen driver, you need to do your own research.
Research should start before you buy the car. If you are truly looking for the best rates, you need to consider all factors before making any decisions, such as the car he/she will be driving.
In the unfortunate case of your son or daughter being in an accident, in which they were the victim, it may be a good idea to contact an experienced personal injury attorney. Attorney Chris Davis has dedicated the last 20 years to representing injured victims. While your insurance adjustor may appear to be your friend, you will quickly see how this will change. You need someone on your teen’s side. Call Davis Law Group today at (206) 727-4000 to schedule a free consultation.