While a kid is excited about getting the first car, the parents face tons of paperwork and the increased interest rate. Yet, it is possible to find good car insurance for the grown-up child and avoid the family car insurance policy’s negative effects.
Also, the correlation between adding teenagers to a policy and the annual premium is getting surprisingly good. The annual premiums increased an average of 78 percent before 2013. Since that time, the tendency changed, and the average increase was 85 percent.
More safe car technologies might have made the interest rates to fall or the fact that there are even “graduated” driving programs that ensure the teens’ readiness to drive. The point is there are ways to find the middle ground between the teen’s needs and the family’s budget.
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How to Choose a Car
Despite the teens’ preference for a small nifty car, it would be much cheaper to put them in a time-honored car. It is better for the interest rate and safety reasons as well.
According to the National Highway Traffic Safety Administration, 2,082 teen drivers were involved in fatal in 2016. Since teens are responsible for a considerable number of accidents, there is no need to give them a sports-car to test-drive.
Involve your teen in the decision-making process about the car. Make him evaluate the price range and the car’s safety. Plus, remind him that every car needs gasoline, and that might become his concern, and you won’t pay for his rides. This way, the teen will know how much safeness costs and will get the first lesson about budgeting.
Why You Have to Protect Your Teen Driver
Finally, consult fellow parents for feedback on adding a teen to car insurance. And whatever insurance plan you choose, make sure your child is well taught and ready to drive. Your child’s safety and life are in your hands.