Auto Insurance – Insuring Teen Drivers
If you have inexperienced operators in your household, then you know that insuring teen drivers is expensive. Most insurance companies define inexperienced operators as those with fewer than 6 years of driving experience. Understandably, insurance companies price their coverage based on the exposures to risk. In addition to teen driver safety tips, we can help explore ways to reduce premiums.
Keeping Teen Drivers Safe
Statistics show that teen drivers are more susceptible to distracted driving, speeding, drunk driving, and driving with other teen passengers—all factors that increase the risk of motor vehicle crashes, and fatalities, among teen drivers.
Check out this valuable information from the National Highway Traffic Safety Administration (NHTSA). It details the cautions, and what we as parents can do, to help keep teen drivers safe.
Reducing Insurance Premiums for Teen Drivers
There are several considerations when looking to reduce insurance premiums for teen drivers. We encourage you to contact us to review available options, eligibility requirements, and which choices may be best for you.
These can include discounts for Good Student, Student Away at School (without a vehicle), and taking an additional Defensive Driving Course. Also, some companies will issue credits with each year of experience for young operators who maintain clean driving records. While some credits appear automatically, most discounts need to be pursued.
Vehicles and Coverage Options
There is much to consider here. While newer vehicles have advanced safety features designed to help prevent accidents and severe injury, older vehicles are typically less costly to repair or replace. In certain instances, you may want to increase deductibles—the amount you pay in the event of an at-fault accident—in order to reduce premiums. In other instances, you may consider dropping collision or comprehensive coverages altogether. Furthermore, if you have a high-value or high-performance sports car, you may have the option to ‘exclude’ your teen driver from coverage on that car.
Let Us Help
We understand that no two insureds are the same. When it comes to insuring teen drivers, what works for your family may be different than for another. Please connect with your Account Manager with any questions about your auto insurance policy. We are here to help.