Car insurance rates for teenagers are especially high because young people who have just received their driver's licenses are the highest risk group.
There are two primary reasons that this is so. The first is that they are young and therefore seen as immature. The second is that they are, by the nature of just receiving the license, inexperienced.
Statistical data bears this out. Most accidents that are related to decision making problems are caused by people aged 16 to'. Therefore, they pay a higher premium for their car insurance.
But parents and teens should know that there are ways to reduce the cost of car insurance rates for teenagers. If a student has a B grade point average (3.0), they can generally get a break on their policy.
If a teen drives an older car or one that is completely paid off, they will also get a break on their insurance policy. This is because if the car is totaled, the insurance company has less to pay out.
Finally, the parent should ask their insurance agent about increasing the deductable on the car the teen drives. This generally reduces the cost of the policy. The parent can pass the risk onto the child letting him or her know that if the car is totaled, they will have to make up the difference.
Car insurance for teens are always going to have higher premium rates than for those who are older, more mature, and more experienced. However, there are ways to minimize the cost of the policy. When teens show they are responsible drivers and good citizens, they can often get decent insurance.
Keep in mind that if the teen is responsible, he or she will establish a good driving record over time. This, combined with the fact that he or she gets older, will eventually lead to lower rates. High insurance rates for teenagers don't last forever! - 31376
There are two primary reasons that this is so. The first is that they are young and therefore seen as immature. The second is that they are, by the nature of just receiving the license, inexperienced.
Statistical data bears this out. Most accidents that are related to decision making problems are caused by people aged 16 to'. Therefore, they pay a higher premium for their car insurance.
But parents and teens should know that there are ways to reduce the cost of car insurance rates for teenagers. If a student has a B grade point average (3.0), they can generally get a break on their policy.
If a teen drives an older car or one that is completely paid off, they will also get a break on their insurance policy. This is because if the car is totaled, the insurance company has less to pay out.
Finally, the parent should ask their insurance agent about increasing the deductable on the car the teen drives. This generally reduces the cost of the policy. The parent can pass the risk onto the child letting him or her know that if the car is totaled, they will have to make up the difference.
Car insurance for teens are always going to have higher premium rates than for those who are older, more mature, and more experienced. However, there are ways to minimize the cost of the policy. When teens show they are responsible drivers and good citizens, they can often get decent insurance.
Keep in mind that if the teen is responsible, he or she will establish a good driving record over time. This, combined with the fact that he or she gets older, will eventually lead to lower rates. High insurance rates for teenagers don't last forever! - 31376
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