Today, insurance rates for teen drivers are more expensive than they have ever been. These high rates result in teens getting less coverage and paying the most for car accidents.
Statistics on Teen Driver Insurance
Teen drivers, on average, are the most likely to cause the most insurance claims. Because of this, many insurance companies offer discounts for teen drivers. One way to help you save with your insurance is to make sure cars have safety features like airbags and anti-lock brakes.
Many insurance companies are offering lower rates for teen drivers who complete a driver education course. This can help reduce the cost of insurance for teens and their parents.
A Short History of Teen Driver Insurance
A Short History of Teen Driver Insurance. As with other insurance policies, the idea of teen driver insurance has been around a lot longer than it appears. The first policy written in 1760 explicitly mentioned young drivers. However, at that time, drivers were not allowed to own cars so they rode horseback or walked to their destinations.
In the 1950’s, parents started to worry about their teenage children driving. As a result, they looked into what could be done to protect them in case they were involved in an accident. They found that the cost of insuring a teen would typically be prohibitive if taken by a regular insurance company so they created an insurance option specifically for teenagers and teens.
How is the Teenage Car Insurance Rate Determined?
The insurance rate for teenage drivers is determined by a number of factors, such as the number of miles driven, age, and use of safety features. It is important to be aware that some insurance companies may have additional requirements in order to obtain a lower premium rate. For example, TeenageDrivers.com requires at least one certain type of safety feature, such as dual airbags or stability control, to qualify for the much lower rates.
The cost of auto insurance for teenagers is based on a few factors, such as driving history, credit score, and geographical location. Insurance companies will also use your age and the type of car you drive to determine your premium.
How to Lower Your Teenage Car Insurance Rate
Teen drivers often come with a hefty price to pay, which is why parents are always on the lookout for ways to lower their rates. Some of the best techniques you can use to lower your car insurance rates are to get all the necessary car equipment installed before the start of your teen’s driving career and getting your teen a higher deductible.
The average teenage driver will be on the road for two years before their first accident, but that doesn’t mean you can relax just yet. Certain things can help lower your rate, like making sure to always wear a seat belt and getting at least two quotes.
Though it is an exciting time to be a teen, it can also be a scary process. One of the biggest worries for starting drivers is what will happen if they have an accident. Insurance companies are great ways to help alleviate some of these fears and to keep your teen safe on the road.
It’s important for parents to take the time to discuss insurance options with their teen drivers. Doing so can help them decide what coverage is best suited to their needs. They may also want to consider which coverages are available for special situations, such as a driving-related incident or accident. The coverage options may be different in each state, and talking to an insurance agent can give you the information you need that’s specific to your state.