According to research conducted by the Insurance Institute for Highway Safety, teenage drivers are three times more likely to get into a car accident than older drivers. To avoid a huge jump in the cost of auto insurance premiums with the addition of a teenage driver, parents of upcoming teen drivers should take note of certain tips to help obtain lower automobile insurance premiums.
First, it is important to consider an ideal car to keep insurance premiums to a minimum. The ideal car should not be very expensive so repair costs can be kept to a minimum if involved in an accident. Expensive cars can be attractive to thieves. Therefore, mid-size family cars are more ideal due to safety features such as airbags, ABS, electronic braking distribution, and daytime running lights, etc.
Second, it is imperative to consider designating the least expensive car to the teenage driver on the insurance policy in order to save the most amount of money.
Third, it is essential to consider sending the teenage driver away to college and leaving the car at home since insurance companies offer alumni discounts. These discounts exist on the assumption that teenage drivers will only drive during vacations and weekends that they are home. In addition, other discounts exist if the teenage driver gets good school or college grades.
Fourth, it is important to consider allowing the teenage driver to get a driver’s license only if it is necessary. Even though most states allow sixteen-year-olds to obtain a license, the more parents wait to allow their child to drive, the lesser the premium.
Lastly, parents should encourage their teenage driver to take a safe driving course both in person and online. Many insurance companies are even providing safe courses for teenage drivers in order to reduce the possibility of accidents.
Do Not Forget About Uninsured/Underinsured Motorist Coverage
When adding your teenage driver to your auto policy, do not forget to consider uninsured/underinsured motorist (“UM/UIM”) coverage. UM/UIM coverage is insurance that you purchase from your insurer for yourself and your insured drivers in the event that you are involved in an injury accident with a negligent driver who maintains little or no liability insurance coverage. UM/UIM coverage is essential to those who seek full coverage.
Capaz Law Firm | Tampa Car Accident Attorneys
The Capaz Law Firm is located in Tampa, Florida. The car accidents lawyers at Capaz Law Firm are experienced personal injury attorneys who will counsel you regarding any insurance, injury or damage claim arising out of an automobile accident. If you have been injured in a car crash due to the negligence of another driver, call 813-440-2700 today.