Whether your child is a college student returning home to drive the family car over the summer or a teenager eager to learn to drive before school starts again in September, these coming few months are busy – and bound to be anxiety-ridden for parents of young drivers.
Before your teen gets behind the wheel, call Excalibur Insurance Group. Having the right insurance coverage can help put your mind at ease. We’ve got five things to consider when protecting your vehicle and your family. Consider this:
Building a relationship and insurance history:
Adding another driver to your insurance policy will increase your premiums, but it’s a sure-fire way to save money down the road. Every year your son or daughter remains collision-free helps to build an important history with an insurance company, which leads to savings when they eventually get their own policy. Without that history, they’ll be treated as a new driver once they apply for insurance, which results in a more expensive policy.
Some insurance providers offer a “bulk rate” if you have multiple vehicles in a single household insured through them as well. Consider this if your child has their own vehicle.
It may be more affordable to get your child’s auto insurance from a different insurance company than the one you’re insured with. Some insurance companies offer specific young driver car insurance packages. Ask Excalibur Insurance Group to provide three quotes: the lowest price for just you, the lowest price for your child, and the lowest price for insuring you and your child together. Any quotes should be based on your teenager driving your least expensive vehicle. Keep in mind if you are insured together with your child, any accidents or tickets affect your insurance – not your child’s.
It helps to have someone shop around for you – saving you both time and money.
It really pays off. Taking a government-approved driver’s education course gives young drivers substantial rate decreases. Graduates could save up to 15% off on car insurance, which is the same discount you’d get for having three years of safe-driving experience.
This means the insurance company agrees not to increase your premium because of your first at fault accident. Depending on the company, this may apply separately to each vehicle or to each driver. Costs can range from somewhere between $50 and $75, making it a worthwhile purchase.
Car accidents are the leading cause of death for 15- to 25-year-olds, and 50% of those crashes involve alcohol. Statistics show young drivers are more likely to be involved in fatal crashes on weekends, at night and during summer months. Make sure young drivers understand the dangers of drinking and driving, and always plan a safe way home if alcohol is involved.
The best way to teach your young driver the rules of the road is to set a good example. Talk to Excalibur Insurance Group to make sure your policy is up-to-date, and your child has proper coverage before they take the wheel. Give your Excalibur Insurance Group broker a call at 1-888-298-7343.