Lake Worth, FL (PRWEB) February 17, 2010
The question is, how can parents make it less? We obviously need to utilize every discount available to teen drivers. A really fantastic price saver is the Good Student Discount that just about every company offers. If the teenager is a "B" average student, parents can save big money. Hundreds of dollars every year. Another great way to save premium dollars is by taking a driving training course. Some companies offer a small kit that includes a DVD and workbook that upon completion saves money on the average cost of car insurance for a teenager. Young drivers do not need to take a class or pay money to complete the driving course. It is free and most companies offer this discount to young drivers, typically under age 25.
The benefit of making the teen an occasional driver on the parent's policy is a lower average cost of car insurance for a teenager. The young driver gets to enjoy the parent's better driving record, any discounts they have accumulated over the years, and in some cases credit scores which many companies use to determine rates. The reasoning behind this is that the car won't be driven as often if the young driver has to borrow a parent's car and does not have use of it at all times of the day. If the teen is listed as a primary diver on the parent's policy, this will more than likely increase the cost of our auto insurance.
There are benefits of having the teenage driver on their own policy. If parents are interested in this option, mainly for liability reasons, they will also want the teenage driver to have their own car, with the title and registration in their own name. This may help protect any assets if the teen causes an accident in which a lawsuit is filed for damages. If you are worried about a lawsuit, the best defense is having higher limits of Bodily Injury protection for any vehicle the teen drives. Insurance companies know how much money an inexperienced driver can cost in accidents, therefore, they are rated accordingly. Teens driving under their own policies increases the average cost of car insurance for a teenager.
According to the Florida Department of Financial Services, everyone should be comparing rates for their insurance. Every company varies in the amount they charge for teen car insurance, so in order to find the lowest price http://www.MyFloridaInsurance.info provides free car insurance quotes from the top insurance companies in Florida.