Risk & Business Magazine General Insurance Services - Fall 2020 - Page 31

TEEN DRIVER students with a C or D average in school are 49 percent more likely to get into a car accident than those with an A or B average. As a result, students with an A or B average are labeled as low-risk drivers by car insurance companies and rewarded with lower rates. While specific qualifications vary between carriers and states, most auto insurance companies typically require students to meet the following standards: • Be under the age of 25 • Be currently enrolled full time in high school, college, or university • Maintain at least a 3.0 GPA • Score in the top 20% on the PSAT, SAT, or ACT • Receive recognition on the dean’s list or honor roll In order to receive the good student discount, you will need to provide both proof of enrollment and proof of academic achievement. This proof can be provided to carriers in the form of a report card or transcript, standardized test score results, a letter from a school administrator, or a dean’s list or honor roll certificate. In the case of a homeschooled student, you will need to provide a certification signed by a homeschooled certifying body, such as the State Department of Education. WEIGH YOUR BUYING DECISION Wanting to get your teenager a new car to drive with the latest safety equipment is understandable, but you may be better off purchasing a safe used vehicle in terms of premium prices. SET YOUR EXPECTATIONS FOR SAFETY AND MINIMIZE DISTRACTED DRIVING Teens can get distracted easily. To help reduce potential accidents: • Restrict your teen’s nighttime driving • Do not allow them to drive with more than one other person in the car • Ban smartphone use while driving • Ride with your son or daughter occasionally to make sure they are keeping up with the safety habits that they learned in driver’s education If you will be adding a teen driver to your policy soon, or simply have questions about your options, give me a call. I can be reached at 219-809-2112 or kwisser@ genins.com. + Katelyn Wisser joined General Insurance Services (GIS) in 2016. Prior to joining GIS, she graduated from Purdue University North Central with a Bachelor of Arts in Behavioral Science and a minor in English. Katelyn is a member of the Michigan City Rotary Club and enjoys maintaining a vegetable garden with her husband and spending time outside with her dogs. She presently resides in Trail Creek and works in our Michigan City location. We know what it took to build this business. THE EXPERIENCE YOU NEED WHEN IT MATTERS THE MOST. And we know what it takes to protect it. To find out how West Bend can help protect your valuable business, contact this Official Supplier of the Silver Lining ® . (219) 879-4581 www.genins.com AT T ORNEYS Mark L. Phillips Martin W. Kus James W. Kaminski William S. Kaminski David P. Jones Matthew J. Hagenow Kristina J. Jacobucci Nicholas T. Otis Anthony G. Novak Alyssa N. Speichert