New York Teenage Drivers Insurance Savings
An increase in automobile insurance premiums in New York and other states is something that will have affected most folks but there is one group that seems to be hit harder than most…Teenage drivers.
This is because insurance companies see the young driver car insurance market as a risky demographic and so raise the prices of their premiums accordingly.
With this in mind it is essential to shop around and find as many prices as possible to ensure a low-cost teenage driver insurance policy – with our free comparison service you can view prices from many companies in just a few minutes.
Why teenage drivers are a risky group?
Unfortunately, it is a fact that young drivers account for a disproportionate amount of accidents on US roads and this is one of the main reasons why insurance companies consider younger drivers to be a higher risk.
Statistics testify that one in five drivers are involved in a crash during their first twelve months behind the wheel and that road users are more likely to be involved in a traffic accident during the first two years after passing their test.
It is also the case that drivers aged between 17 and 25 are responsible for one third of road fatalities in the US and that teenage drivers are more likely to be the victim of theft, fire and malicious mischief that result in insurance claims.
How to get cheaper teenage driver insurance?
If you’re a teen driver and looking for the best deal on car insurance, it’s important to shop around to ensure you get the best price. There are several things you can do to bring your premiums down, but it’s still crucial to compare policies from different insurance companies to find proper cover at the lowest price.
Insurance premiums are massively affected by the type of motor vehicle that you drive so try to stick to small engine cars from low insurance groups and avoid any vehicle alterations.
Young drivers’ insurance can often appear like a bad bargain. Insurance firms commonly base teenage driver insurance premiums on a series of statistics. They will take the information you give them and compare you to other drivers of a similar age and gender – if these drivers have made lots of claims on their insurance, you will stand for a high risk. With no other dependable data to go on, companies have to make assumptions based on measurable matters like your age and how powerful your car is. Only when you’ve proved that you’re a responsible driver will your premiums start to go down.
A few tips that can result in getting the best auto insurance rates for the teenage driver
Learn the Law
Traffic and automotive vehicle laws vary moderately from one state to another – but progressively, states are ordaining specified laws applying to teenage drivers, cutting back the hours during which they can be on the road, how many passengers they can carry, etc. Parents have an obligation to make sure their young drivers know these laws and are abiding by them.
Remember that as a parent, you are all of the time educating your child whether or not you are aware of it. Teens particularly will not hesitate to call you out if you are in the habit of speeding, tailgating, rolling stops and other poor driving habits.
Adding a young driver to Your Policy
By itself, a teen policy is high risk car insurance – and that means costly insurance. You can avoid a major increase in your overall car insurance rate by simply adding your teen child to your existing policy as an authorized driver rather than getting a separate policy. This way, your good driving record will help the teen driver – and they will be eligible for the same discounts that you are.
Encouraging better grades
It’s a common practice across the insurance industry to offer good student car insurance rates – often by ten and sometimes twenty percent. If your child’s better grades result in the best auto insurance rates for you, consider passing on the savings.