One of the most exciting times in a young man's life is when he first learns to drive and gets his first car. Unfortunately, this is also the time that you will need to purchase insurance for your teenaged driver. Teenaged, male drivers are the most expensive group to insure, due to the fact that statistically, they are the group involved in the most accidents. Not only do you have to worry about your child driving, you also have to work this new insurance payment into your budget. Luckily, there are a few things you can do to get better auto insurance quotes for a teenaged driver.
There are two reasons that you need to buy auto insurance for your
teenaged driver: it's required by law, and it's the responsible thing
to do as a driver on the road. Car insurance helps protect your child,
the car, and others on the road in the case of an accident. If your
teenager causes an accident, car insurance will help pay for the damages
done to the other driver's car, as well as medical expenses. If your
young driver is involved in an accident with someone else, insurance
will help bridge the gap for any expenses the other driver's insurance
does not cover.
So the importance of car insurance is no subject to doubt.
Unfortunately it is something you will need to pay for as long as you
own a vehicle. This price can add up, so it is important to get the lowest price you can on the best insurance coverage you can find. Here are some tips:
Liability Coverage: If you are really on a
tight budget, you can consider only purchasing liability coverage.
This is the minimum required by law (although if you are financing a
vehicle you might need other coverage). Liability coverage will help
pay for another driver's losses if your teenager causes an accident, but
will not pay for your child's own expenses. How much liability
coverage required by law will depend on what state you live in, but most
insurance companies will not let you purchase a policy without this
Consider raising your deductibles: If you
purchase comprehensive or collision insurance, you can raise your
deductible in order to get a lower premium. A deductible is the amount
of money you are responsible for paying before your insurance company
pays anything. Therefore the higher your deductible, the less the
insurance company is responsible for. Saving them money allows them to
give you a lower premium.
Comparison shop for policies: Like with
almost any other purchase, you need to shop around for the best deal
when it comes to auto insurance quotes. Although most companies look at
the same factors when it comes to determining your quote, not all
companies weigh these factors in the same manner. This means there can
be hundreds of dollars differences across companies and between
individuals. Obtaining multiple quotes is the best way to make sure you
are paying a good price for your auto insurance.