The bad news! National statistics have proven that, if you have a youthful driver in your household, premiums are usually rated higher because of the higher rate of collisions and liability claims that arise from this group. Of course, the main culprit here is inexperience. Underwriters have long been in the know about this so, hence the stricter requirements on the premium rates.
The good news, is that you can do something right now to maximize the discounts and keeping the youthful driver premium at the lowest level you can generate.
Here are 4 tips you can use to control the youth premium right now:
- Buy a “conservative” car. You are not doing yourself a favor by getting your son or daughter a sports car, SUV, or deluxe high performance vehicle. Just think for a moment how much the upkeep is on something like if your child gets into a collision. Nightmare for you! So choose wisely, a conservative small four door sedan that has good protection of “metal” around the driver and occupants along with a good safety record of performance.
- Be a good citizen. It helps to keep the underwriters of your policy to know your child is involved in community service, keeps good grades in school, and stays out of trouble.
- Clean record. This goes along with #2 in being a good citizen. If your son/daughter has a record of felony, moving violations, credit problems or anything that can dampen one’s character, it will be a concern.
- Lastly, safety features of the primary vehicle of your child. Does it have anti-lock brakes? Side air bags? Auto seat belts? Just a few safety features that will also “score brownie points” with your insurance company.
In other words, the reality is that, if you have youthful drivers in your household, it can’t help but drive your overall “family plan” insurance premium higher, but you need to know the things you can control to maximize savings to lower the premiums as best as you can. Follow the above tips and you will know you got the best price on your premiums
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