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Car Insurance Rates for Teenage Drivers

Statistics show that a lot of teenagers are disastrous drivers. They are far more likely to cause fatal accidents than drivers of any other age group, and the figures are getting worse year by year. Nevertheless, hope is not lost – here are some ways your teenage kid can keep the insurance costs down to a bearable level.

Good grades pay off

Have him get good grades in school. If your kid is enrolled full-time in an accredited educational facility, be it a college, university or high school, he can be eligible to a discount between 10 and 15 percent if he maintains a GPA of at least 3.0. Be warned, however, that not all insurance carriers offer such a discount, there are some that won’t lower the rates even if your kid has a straight 4.0.

Share insurance costs

Have your kid pay for part of the insurance. Pay for a share of the bill with your kid’s allowance money. This should motivate him to keep the insurance costs as low as possible, because low bills mean more money in his pocket.

Responsible driving

Teach your kid about responsibility. Driving on a public road is not a video game, people can get seriously injured or even die if you don’t play by the rules. There are many educational videos that show what happens if you don’t drive safely. Make sure he understands the risks.

Deferred driver bonus

Notify the insurer when your kid leaves for college. If he is going to be more than 100 miles away and doesn’t use a car, you can get a big cut in the premiums, while your kid will still be insured when he comes home for college. Ask for a deferred driver bonus.

Get multi-policy discounts

Adding your kid to your insurance policy should lower the costs because you, as a mature and responsible driver, will basically be vouching for the inexperienced driver. Make sure that you do the math properly and this isn’t a false economy – you will be saving some money compared to an individual policy, but you will get an increase on the premiums for all other cars. Use a car insurance calculator to test a few scenarios and see which is the most budget-friendly.

Be a role model

It’s a known fact that kids look up to their parents. Make sure you set a good example when driving – if your kid sees you changing lanes chaotically, tailgating and often breaking speed limits, he is likely to do the same. Driving school teaches you some core skills, but bad habits are the easiest to get.

Enroll your kid in defensive driving courses

Safe driving classes will not only teach your kid how to be a better driver, but will also entitle him to a discounted policy. Contact your local DMV for a list of approved courses held in your area.