From teaching your children how to walk and talk to ensuring they can handle the physical, emotional, and financial changes of life, it is easy to see the challenges of being a parent. Unfortunately, most parents are not prepared for the stressful nature of having a new teen driver. Not only will you be constantly worrying over your teen's driving capabilities, but you will also need to prepare yourself for the huge costs associated with car maintenance and insurance. While surprising for most parents to learn, your premiums will increase an estimated 80 percent after adding a teenage driver to your insurance policy. Before your teen hits the road, here are a few things to know before insuring your new teen driver.
Most teenagers would love a brand new sports coupe on their birthday, but that should only be a dream. Sports coupes and luxury vehicles are costly to insure even for the most experienced drivers. To avoid extremely high increases in your insurance premiums, opt for a gently used sedan. Or consider a crossover SUV, which is considered one of the safest and most affordable to insure.
If you are like most people, you already have an insurance provider in place. While adding your new driver onto this existing policy may seem like the simplest option, shopping around for a more affordable package may be a better option.
Many companies will offer discounts to new customers, meaning you can sign you and your teen driver up at a better rate than what your existing policy holder is offering
When shopping, make sure to receive quotes for bundled services. Bundling your auto, homeowners, and even life insurance policies together offers convenience and financial savings in many cases.
Lastly, you are your teen's best teacher, so it is imperative to teach them how to drive safely. Safe driving reduces your teen's risk of traffic violations, but it also reduces their risk of getting into an accident.
Your teen should understand the importance of following posted speed limits and local traffic laws. In addition, make sure your teen understands the dangers of texting while driving. Teach your child to place their phone in the trunk or locked in their glove compartment box while they are operating the vehicle.
Learning to drive is an important part of life, but it should not become expensive and dangerous. With this guide, you will know how to avoid costly insurance premiums while insuring your new teen driver. Contact a company like The Blondin Agency Inc - Nationwide Insurance for more info.Share