A child’s sixteenth birthday can be both exhilarating and anxiety-inducing for parents. On one hand, mom and dad get a much-needed break from driving to soccer practices. On the other hand, parents become understandably concerned about car accidents, drunk driving, and other dangerous behaviors. And that’s not all; parents are often shocked when they find out how much their auto insurance rates are going to increase. It may seem unfair, but teen accident statistics support high rate increases. Read on for more information about how to keep your kids safe and your insurance costs low.
The average insurance increase when a teen driver is added to a married couple’s policy is a whopping 79 percent. If the teen is a boy, it’s even higher at an average of 92 percent. Although these rate increases seem high, they are actually down from previous years. In 2013, for example, the average rate increase was 85 percent. If you’ve been injured in an auto accident, contact a Boston injury lawyer today.
Tips to Keep Insurance Costs Down
If it’s time to add your teen driver to your insurance policy, there’s no way to avoid a rate increase. But there are some steps you can take to reduce the damage to your wallet. The following advice may help keep your costs down:
- Have your teen driver take a driver safety training course. Most insurance carriers provide discounts for young people who have completed these programs. If you’re not sure, call your insurance company beforehand to determine what discounts apply and how to ensure you receive them.
- Encourage your teen driver to keep his or her grades in good standing. Some policies provide up to a 15 percent discount for students who maintain a B average or better. Similarly, if your child is on the dean’s list or has received comparable honors, this may equate to money in your pocket.
- The car matters. High performance vehicles, such as sports cars, will typically result in a greater increase than a basic, four-door sedan. Insurance companies like safe, family vehicles (warning: your teen driver will likely disagree with this logic).
- Shop around. The best insurance company for your family when it was just mom and dad may not be the best insurance company when it’s mom, dad, and a teenage son.
- Consider your deductible. If your low premiums encouraged you to get a low deductible, it might make sense to increase your deductible with your rate increase. By increasing your comprehensive and / or collision deductibles by even $500, you may see a significant drop in your overall rate.
- Teach your teen the importance of utilizing safe driving practices at all times. Make sure he or she gets plenty of practice with you in the car, and on back roads, before driving alone or on highways. Model good behavior; put your cellphone in the glove box when you’re driving, obey the speed limit, pay attention to the road, and buckle up. Once your teen driver develops a history of good driving habits, the rates will begin to drop.
The reality is, there’s a very good chance your teen driver will be involved in a fender bender at some point. Accidents happen. But teaching and modeling good driving behaviors can dramatically reduce your child’s chances of being seriously injured or killed in a motor vehicle collision. If you’ve been injured in any type of auto accident, contact a Boston personal injury lawyer today.
Altman & Altman, LLP – Motor Vehicle Accident Lawyers Serving All of Massachusetts
If you have been harmed due to another driver’s negligence, the skilled legal team at Altman & Altman, LLP can help. We will analyze the details of your case before determining the best legal strategy. It is our goal to get you the compensation you deserve in a timely manner. If you’ve been injured, we can help. Contact Altman & Altman, LLP today for a free and confidential consultation about your case.