IIHS further suggests that immaturity leads to various risky habits, for example, ignorance towards the speed limit and the inability to recognize or respond to hazards. Therefore, it is not uncommon for auto insurers to charge young drivers a high premium. To help reduce the cost of insurance, IIHS recommends that parents only allow their teens to drive vehicles that are safe with at least these 4 basic principles:
· Low power: Vehicles with high powered engines are serious temptations for teenagers to test the limits of their cars.
· Bigger vehicles are safer: Small cars are bad because they offer drivers little protection in the event of an accident. Small SUVs are still on the institute’s list of recommendations.
· Electronic Stability Control (ESC): This safety feature helps apply the automatic brakes at times when the vehicle experiences loss of traction.
· Best Safety Score: The National Highway Traffic Safety Administration (NHTSA) tests each new vehicle and awards a safety score. Teens must drive vehicles with a rating of at least 4 stars (5-star rating is best).
Those principles apply every time parents buy or choose vehicles for their teens. Although the principles seem restrictive, there are still several dozen vehicles that meet the guidelines. The good news is that most low-powered vehicles tend to be the least expensive options on the market. The right vehicle reduces the risk of accidents and improves the chance of getting an affordable auto insurance quote. However, parents and teens must work together to keep the record clean. Here are some suggestions to avoid the premium overhead.
1. Help teens understand traffic laws: By far the most effective way to keep your auto insurance premium affordable is to keep a record of zero moving violations. Teens may not know what some signs and regulations mean, so parents need to be able to help their teens understand.
2. Lead with examples: Under ideal circumstances, parents teach their children to drive. Parents play a crucial role in adolescent driving behavior. If you don’t set good examples, your teens will think it’s okay to break traffic laws and show an inappropriate attitude on the road from time to time. Actions speak louder than words.
3. Multiple drivers on one policy: Before teens are ready to drive their own cars, it’s best to include them on their parents’ insurance policy. Some companies offer discounts for multiple drivers. This is the cheapest and safest option. A stand-alone teen policy is also possible, but the total premium rate can be much higher.
4. Good grades: Most insurance companies offer discounts for teen drivers (still in college or school) if they get good grades. Academic performance is good in all cases, but the discount encourages teenagers to study more.
5. No sports cars: Teenagers love sports cars and crave the thrill of high speed. Aside from the fact that sports cars are expensive to insure, these high-performance vehicles are also quite dangerous for amateur drivers. Even if parents can afford to buy a sports car for their teenage son or daughter, they still need to be safety conscious. Remember that safety always comes first.
6. Driver education courses: completing driver education courses at an accredited institution opens the door to discount. Not all courses/institutions provide instant eligibility, so check with an insurance agent for available options.
7. Drive with them: teen drivers develop good or bad road behaviors over time. Sometimes it’s a good idea to drive with teenagers and see if they are still as obedient to traffic laws as when they started.
8. No drugs and alcohol: As difficult as it may seem, parents need to talk to their teens about alcohol and drugs. Have a personal conversation and discuss the issues without intent to accuse or suspect if they use such substances. Respect their opinions and explain the health and safety risks of drug and alcohol use.
An independent auto insurance policy for teen drivers can be hard to come by. If getting one is really necessary, the non-standard auto insurance marketplace welcomes any high-risk driver, regardless of prior moving violations, past accident involvement, or credit rating.