Auto insurance for teen drivers is notorious for being expensive. In fact, young drivers, particularly those between 16 and 19 years old, typically have the highest insurance rates of any demographic group. This is due to a number of factors, including lack of driving experience, higher risk of accidents, and increased exposure to distractions on the road. As a result, many parents find themselves searching for ways to lower the cost of insuring their teen driver.
First, it’s important to understand why auto insurance for teen drivers is so expensive. Teens are statistically more likely to be involved in accidents than older, more experienced drivers. In fact, according to the Centers for Disease Control and Prevention (CDC), in 2016, there were 2,433 teens between the ages of 16 and 19 who died in motor vehicle crashes, and an estimated 292,742 were treated in emergency departments for motor vehicle injuries. In addition to a lack of driving experience, young drivers may be more likely to engage in risky behaviors such as speeding and distracted driving, further increasing their risk of accidents.
Because of these increased risks, insurance companies charge higher premiums to insure teen drivers. However, there are a number of steps parents and teens can take to help lower the cost of insurance.
One of the most effective ways to lower the cost of auto insurance for teen drivers is to encourage safe driving habits. Many insurance companies offer discounts for completing driver education courses, maintaining good grades, and avoiding accidents or moving violations. Parents can also consider adding their teen driver onto their own policy, which may result in lower rates than a separate policy for the teen.
Another option for lowering insurance costs is to choose a safer vehicle. Some cars are more expensive to insure than others based on factors such as their safety record, value, and repair costs. Parents and teens can consult with their insurance provider to determine which vehicles are the most affordable to insure.
Finally, it’s important to shop around for the best insurance rates. Different insurance companies may offer vastly different rates for teen drivers, so it pays to do some research to find the best deal. When selecting an insurance provider, it’s also a good idea to look for companies that offer superior customer service, such as 24/7 assistance and easy claims processing.
In conclusion, auto insurance for teen drivers is expensive due to their increased risk of accidents and lack of driving experience. However, there are a number of steps parents and teens can take to lower the cost of insurance, including encouraging safe driving habits, choosing a safer vehicle, and shopping around for the best rates. By taking these steps, parents can help ensure their teen drivers are insured at a price they can afford.