Hello World! Welcome Friends! When your child is old enough to drive, it can be the first big step towards total independence, and that’s always a tricky thing for parents to go through. There’s also the cost involved in getting them on the road, of which car insurance can make up a significant chunk.
A little knowledge goes a long way in this context, so here’s some essential info about insuring youngsters that will save you money and stress.
Car Choice Matters
You might consider insuring your youngster on the family car as an inexpensive alternative to getting them their own vehicle with its own insurance policy.
However, this might not always be the case, especially if your main vehicle is relatively new and valuable. An older, affordable vehicle is cheaper to fix after an accident, and insurers know this, so cover will cost less.
It’s More Expensive to Get Car Insurance After Being at Fault for an Accident – But it’s Still Possible
In the case that your teen does get into a fender-bender for which they’re responsible, there are options for insurance in the aftermath. You need to have your insurer file an SR-22 to prove your car insurance meets the minimum coverages, so while you’ll pay more post-accident, they won’t be kept off the road altogether.
You Can Take Steps to Cut Insurance Costs
There are certain things which you can’t change that will have an influence on the price of car insurance for young adults. This includes the age and gender of the individual in question. However, exploring options like SR22 insurance policies can provide coverage tailored to specific needs, which might help manage costs effectively. Understanding these factors can empower young adults to make informed decisions about their insurance.
However, there are a few things which will make a difference to the price you pay which are in your control.
For instance, having your child participate in a drivers’ ed scheme will give them the skills and knowledge to be safer on the roads, which in turn will be recognized by insurers and reflected in what you’ll be charged for cover.
You can also adopt an insurance package which includes telematics, also known as black box tech in some circles. This basically equips the vehicle with a device that keeps tabs on how it’s being driven from moment to moment, so that if a teen sticks to safe driving habits, they’ll be able to access the lowest price insurance premiums.
Obviously with a telematics system onboard, there’s an extent to which the driver will feel like they’re having their freedom curtailed. But if you’re on a budget or in debt, it’s necessary, and it’ll also give you peace of mind as a parent.
Leading By Example is the Best Option
You certainly want your teen to be a responsible road user, for their own safety as much as anything else. And if they keep a squeaky-clean driving record then their insurance won’t just be cheaper right away, but will continue to get more and more affordable as they gain experience and rack up the miles behind the wheel.
Because of this, you need to make sure that you’re setting a good example with your own driving habits. Obeying the rules of the road, sticking to speed limits and being courteous to other drivers, as well as to pedestrians, will rub off on your youngster.
Final Thoughts
There’s no way around the fact that car insurance is expensive for teenagers, and even those in their 20s will be paying a steep price because they’re statistically riskier propositions for insurers.
As a parent, you don’t just have to settle for the first deal you come across. Comparing options and encouraging your child to take steps to make it cheaper will deliver the best results.
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Toodles,
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