#4 May Surprise You and Make Your Teen a Safer Driver
So your teenager has reached that pinnacle age they’ve been anxiously awaiting, and you, for one reason or another, have been dreading. It’s time for their driver’s license. Many worries may enter your mind, first and foremost, your child’s safety.
You may also be concerned about the additional cost you will incur adding your teenage driver to your auto insurance policy. Fortunately, there are ways to help reduce the additional cost and some will even help ease your worries about how safe your teen is behind the wheel. Younger drivers are considered a higher risk due to their inexperience and other factors so you may have to look into insurance for high risk drivers.
- A good report card
Typically your child needs a B or better to qualify for a good student discount. If that’s the case for your child, be sure to let your insurer know. Insurers vary on their good student discounts, but some offer 20% and others may even go higher. - Take a safe driver class
Another way to reduce insurance rates is to sign your child up for a safe driving class. One such class, teen SMART, was the first driver safety program to identify and address the six behavioral and social factors that cause more than 90% of all teen collisions. Insurers may offer discounts for completing courses, some of which are offered online. - Choose a car wisely
Whether you have the means to buy that shiny new “congrats on your license” car, you might want to step back and wait a few years. Since teenagers are already expensive to insure and more likely to be involved in an accident, a used car will mean a less expensive loss should an accident occur. According to Centers for Disease Control and Prevention:“The risk of motor vehicle crashes is higher among 16-19-year-olds than among any other age group…Crash risk is particularly high during the first months of licensure.”
- Let the Insurer track your driving
Usage-based, or “pay as you go” insurance lets the insurer monitor how good of a driver your child is and can result in savings. Several insurers have implemented programs that track and then reward good driving habits. Additionally, this system gives parents the ability to monitor their teens’ driving behaviors when they’re not in the car and correct unsafe driving practices before they lead to an accident. - Ask about “distant driver” discount
Let your insurer know if your child heads off to college and leaves the car behind. You may be eligible to receive a “distant driver” discount. Typically your child needs to be at least 100 miles away from home – and the car – to qualify.
For more tips on how to save money on your insurance rate, contact Brooks, Todd & McNeil. An agent can look at your specific situation and determine other discounts for which you and your child may be eligible.