- Your rates will go higher
The reason for this is because teens are more prone to insurance claims due to accidents. In fact, drivers ages 16 to 19 have higher accident rates than other groups. To offset future claims and payments, insuring companies entail higher rates for policies.
- For newly-licensed drivers, consult your insurance provider for discounts and free services
Each state has a different set of rules for newly-licensed drivers. Some states require immediate insurance applications even before the approval of the permit, while some states require one after receiving the license. Below are common differences between insuring companies:
- Covering a teen's permit for free
- Charging all the expenses of getting the permit
The best thing to do is to communicate with your insuring agent. This way, you can get the discounts and free services that your insurance company offers.
- College admission, especially schools that are 100 miles away, costs extra fees
Most insurance companies provide discounts for students that are currently not in college yet. This discount may also include teens that are only 100 miles away from home. However, you can also receive discounts by telling the insurance company that your kid is only living inside the campus. This will help you qualify for lower insurance payments.
- Worry no more! There's a way to reduce your family's insurance
If you now worry about the inflating amount of your insurance policy, you should stop worrying now! There is always a way to lower down your rates over the years. One way is to continuously teach your child to drive safely and sound while using the car. You can instill driving habits that will avoid accidents and receiving tickets. This way, your insurance company will know that your teen drives without incident, thus lower down your rate in the succeeding years.
At Independent Executive Insurance Brokers, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (805) 624-4815 or Click Here to request a free quote.