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As a parent, there are mixed reactions when they get their teenage kids driving. On one side, there is a great feeling of knowing that you have person who can run errands for you whenever a need arises but on the other side, you have to keep worrying about their safety as well as the added expenses that accrue due to having an extra car for the child or even the expenses of refilling gas as well as the insurance for the car. In terms of insurance, there are various factors that affect the cost of insurances but the premiums definitely increase when the driver is a teenager. The insurance firms also consider the gender of the teen driver and the geographical area.
An insurance policy for a teen male driver is higher than that of a female teen driver. Also, the premiums and the insurance policy differ from one location to another. These two factors may not be changed in big ways but there are strategies that parents can use to ensure that there are fewer insurance payments. In as much as they are helping in lowering the costs of insurances, they are also great ways of taming the behavior of your teens. They become better drivers. The following are some simple tips that parents can use to pay less for the insurance policy.
Look out discounts offered to a good student.
In a teen insurance policy, there are teens that perform very well and these grades can be used by parents to get a discount on their insurance policy. For instance, if the student driver is earning at least a B average, and you have supporting documents of their academic prowess, you need to call your insurance agent so that you can enjoy a discount. This discount is also valid for those teens who are homeschooled. These students need to be in the 20% of the student scores countrywide. A teen driver enjoys these discounts even after going to college until they reach the age of 24 years.
Consider the use of telematics.
These are gadgets that are installed in cars to record the habits of the drivers. The information can be used by insurance companies to reward the good drivers. Also, the parents are able to deliver information of the behavior of the teens when they are driving. With a record of good behavior, an insurance company gives great discount to these students.
Consider buying a second-hand vehicle or cars designed for teens.
Tees would love flashy cars that would turn heads; it would not be a good move for the parents especially financially. The more expensive the car is, both in terms of buying and maintenance, the higher the insurance policy. You can get affordable cars designed for teens and ensure that the cars have good ratings. This is another great way to reduce the overall costs of insurance.
