Did you know that young drivers actually make up 13% of the total population of licensed drivers in the United States? Unfortunately for many parents, these new motorists are viewed by many insurers as some of the most costly and risky drivers to insure. While car insurance for both teenagers and college students can be remarkably expensive, there are opportunities for parents to save if they know where and how to look.
At The Novick Agency, we’re dedicated to providing our clients and their families with the automobile coverage they need to be safeguarded behind the wheel, all without hurting their wallet. Let’s take a look at some of the ways you probably didn’t know your teen or college-aged driver can affect your auto insurance policy, and how you can reduce the costs.
Easy as A, B, B+
As we mentioned, your child’s grades can have an impact on your premiums. In fact, many insurers offer discounts for students who get good grades. Typically, students with a “B” or higher grade average are eligible for this discount. A reduced insurance rate can also be offered if the child has completed a driver’s education or defensive driving course.
Raise Up to Go Lower
By increasing your deductible, it’s possible that you could get a lower premium. Ask an auto insurance specialist from The Novick Agency how much you could save by raising your deductible. But remember, if you file a claim after your deductible is increased, you’ll pay a larger share of the expenses.
Share the Road, and the Vehicles Too
The amount you pay for your auto insurance premiums can be affected by the way you classify your new driver. If they’re the primary driver, it can cost you more than if they’re considered an occasional motorist, so think about sharing your vehicles with them.
Spurn the Sports Cars
Because they can impact your teen driver’s safety and the safety of those surrounding them on the road, the type of car they drive can affect your auto insurance rates. Just say no to SUVs and sports cars—they can encourage speeding and recklessness, and can even be difficult to maneuver. Many experts agree that midsize sedans offer the best protection for teen drivers.
Practice Makes Perfect
Your young driver needs to be prepared for navigating through inclement weather and other complicated and challenging scenarios. Now is the time to get them some practice behind the wheel in these varied conditions, like snow, ice, rain, and nighttime driving, so they won’t be scared or surprised when they’re alone in the vehicle and facing these types of circumstances. This helps to avoid accidents and keep your rates at a minimum.
According to research, teens with parents who are more involved in their driving receive fewer tickets and engage in less risky driving. By preventing these tickets and avoiding crashes, it can help keep insurance rates down. A parent-teen driving agreement can help you set rules and stay involved in your child’s driving habits, helping to ensure their and other motorists’ safety.
For more information on how your teen driver impacts your auto insurance rates and what you can do about it, call the experts at The Novick Agency today at 267-447-8582!