Nobody wants to screw up. Bloopers that cost money are even worse. Unfortunately, many parents make dear mistakes when it comes to getting auto insurance for their teen drivers. These mistakes are sophisticated, yet when compounded they would mean paying way too much each month to keep your young driver insured. Never settle on your first quote.
The first mistake many folks make is downplaying the expense a teen driver will incur for insurance. Insurance companies are in the business of managing risk, and unfortunately, no demographic of drivers is more dangerous than teenagers. The costs you can wind up paying for insurance reflect this fact. Planning ahead will probably assist you to keep realizations realistic.
Perhaps the greatest blunder some parents make is letting their kid drive a high-performance car. While your teen almost certainly desires to drive such a car, giving in to these wants will mean much higher premiums to be paid. What is more, these automobiles are more likely to land your teen driver in an accident, which is worse than having to pay a bit more cash each month. Just say no way to sports cars.
Another ordinary slip-up is to form a completely fresh policy for your teen rather than just adding them to your own insurance plan. This could always cost cash. If they’re paying their own bill, just have them provide you with the money instead. You will both appreciate the savings you get.
If you have not asked your company about the provision of a good student discount, you’re making a mistake. Good student discounts can save cash every single month, so you do not want to miss out on these good discounts.
Talking about education, a big mistake is not sending your young driver to a driver’s education class. These driver education classes will help teach your teen the customs of the road, providing them with the experience they need to stay safe on the road. This benefit is precious, but you will also enjoy the right away tangible benefit of lowered premiums on your vehicle insurance.
This is just a fast list of some common errors manufactured by those buying teen automobile insurance, however, even these can still be costly. Take a look at your plan, and see what savings you are able to do by following these straightforward guidelines. Make sure to shop around before purchasing your teens’ policy.
About the author
Bobby Caldwell is an expert on car insurance and has been in the business for several years