More and more parents nowadays are allowing their teens to drive their own car. According to studies, majority of the teenage drivers are prone to accidents making it one of the reasons why car auto insurance premiums soar the moment one of the teen household member gets his or her driver’s license.
One of the reasons found why teenage drivers are prone to accident is because, their mental functions like reasoning, self-control, judgment, and emotional regulation are under development. Most of the time¸ the mind of these young drivers will not mature until when they are on their late teens. However, there are still various ways available to cut the cost of your teenage driver auto insurance.
Keeping your teenage driver’s high grades is just one of the many ways to save of your teenage driver auto insurance. Many of the insurance companies are giving away 10% to 25% discount to teenage drivers who have managed to maintain a grade of B or better. Students with high grades are foreseen as better future risks and are more responsible. On the other hand, insurers also want those students with high grades to be one of their customers in the future.
Allowing your teenage driver to take up some driving lesson will give you the chance to save another 5% to 15% on your auto insurance, even if these short-term driving courses will not drastically reduce street accident. On the other hand, aside from a driver’s education, many of the insurers are also giving away booklets and videos about safety driving and using them can be a subject of a discount.
Increasing your deductible will also help your reduce your teenage driver auto insurance. This is because; higher deductible will reduce your premium by as much as 35%. In addition, it would be better to use your insurance in major accidents rather than using it minor ones where you can afford the amount out from your pocket.