There’s no doubt about it. Getting auto-insurance coverage for your teen can be ridiculously expensive. According to NBC News, the average premium rises 80 percent once you add a teen driver to your policy.
And the reason is crystal-clear: Teen drivers, in general, are a much greater risk than older drivers. Among U.S. teens ages 16 to 19, car crashes are the #1 cause of death. According to the Insurance Institute for Highway Safety, drivers in that age group are 300 percent more likely than those aged 20 or older to be involved in a fatal car crash.
So what are parents and teens to do? Luckily, there are specific ways to address the situation. By being responsible and disciplined—and by taking the following 3 specific actions—teens can help their parents secure the least-expensive auto insurance coverage:
- Take a professional driving course . . . Many insurance agencies offer discounts of up to 10 percent for drivers under the age of 21 who complete an approved driving course. The reason is very simple: These drivers represent less risk. According to a University of Nebraska study conducted in 2015, these drivers are less likely to get a ticket, less likely to have a collision, and less likely to be involved in an injury-causing or fatal accident.
- Get good grades . . . The average “Good Student Discount” can be anywhere from 10 to 25 percent. That’s because teen students who maintain a B-or-better average in school are 33 percent less likely than others to have an accident within their first year of driving, according to the journal Accident Analysis & Prevention.
- Leave the car in the garage . . . Insurers offer teen drivers a discount of anywhere from 7 to 25 percent for attending a college or other type of school at least 100 miles away from home, and leaving the insured car behind. (And these students still are fully covered when they drive while at home on breaks.)
If you have a teen driver in your family, you must get auto-insurance coverage for him or her. It’s Tennessee state law. But you don’t need to be pick-pocketed in the process. By taking the steps we’ve outlined above, you and your teen can enjoy the lowest-possible cost in auto insurance. And remember—at A2Z we’re always here to guide you and help you get the best-possible value for your insurance dollar. Don’t hesitate to ask us about all the various discounts for which you may quality!