Risk & Business Magazine General Insurance Services - Fall 2020 | Page 30

TEEN DRIVER
BY: KATELYN WISSER,
PERSONAL RISK ADVISOR
GENERAL INSURANCE SERVICE
How To Drive Down Auto Rates
While Insuring A Teen Driver
If you are the parent of a teenager
who is getting ready to climb behind
the steering wheel, insuring your
new driver can be an expensive
endeavor.
Teens and young adults often face hefty
auto insurance premiums because,
statistically, they are more likely to get
into car accidents. The Department of
Motor Vehicles reports that the crash rate
for those between the ages of 16-19 is
2.7 times greater than that of the average
driver.
I’ve gathered some helpful tips to help
you keep your premiums as low as
possible and your teen safe and accident
free.
ADD YOUR TEEN TO YOUR AUTO
POLICY
Rather than setting up an independent
policy for your teen driver, consider
adding him or her as an additional driver
on your auto insurance policy. Also, if
you have more than one vehicle, keep
costs down by designating which vehicle
your child will be driving.
DEDUCTIBLE CONSIDERATIONS
Auto deductibles typically range
from $250 to $1,000. By upping your
deductible and using your insurance for
big repairs, you can significantly reduce
your premium.
ASK FOR THE GOOD STUDENT
DISCOUNT
If your teenager maintains at least a 3.0
grade point average (GPA), he or she
typically qualifies for a rate discount.
The Journal of Accident Analysis and
Prevention found in a recent study that
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