Why Teens Get Higher Insurance Premiums
Posted on August 1st, 2008
Teens are getting the poor end of the deal when it comes to insurance. Not only do they have poor credit, are less likely to be married, and are more prone to crashing- they can do hardly anything about it! They will be scrutinized by insurance companies left and right, although there are some small things to do to help reclaim some breaks in expense.
Adults and teenagers differ in many ways, but to insurance agencies they differ mainly from driving experience. A driver is only going to get experience by being out on the road and driving as much as possible. If a teenager can keep his or her track record clean, they’ll be able to lower their expenses in a few years. But even one mistake can mar the reputation of the teen for 3 to 5 years.
Being married is another thing that adults can look forward to. Not only is it a great way to express one’s love for another, it’s also a great way to save on auto insurance. Agencies will slip discounts to married couples since they are believed to be more responsible. Tough luck, teens- you can’t get this discount unless you marry early.
Speeding tickets are common for teenagers since they are inexperienced with the rules of the road. Adults make mistakes too, but they do so on a less frequent basis under average conditions. Teenagers who get speeding tickets will get an unimaginable amount of fees unless they clean it from their record via community service or higher fees.
Students who make a “B” average or higher, whether in high school or at a university, will get a small discount. The discount won’t make up for something such as a speeding ticket, but every little bit helps. Getting named to the Dean’s List or being part of a special organization will also warrant some types of discounts at certain agencies.
Before one’s high school career is over, the student should make an effort to join a driver’s education class while it’s still free. If one’s location doesn’t offer such classes during Summer months, be sure to investigate options with one’s community. Having a driving instruction class won’t save a large amount of money, but again, students will value every bit of money they save.
In Conclusion
The cheapest rate isn’t always the best plan. When seeking out cheap coverage, always look into the general reputation of the company. Read reviews, ask for testimonials, and overall just see the way the agency conducts business. Some agencies exist to manipulate clients out of their money- so make a wise decision based on past customer decisions.
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