It’s understandable that you’re feeling a little nervous about your teenager starting to drive. Operating a vehicle is a huge responsibility, and the only way for your teen to learn how to be a good driver is to practice. Thankfully, Vargas and Vargas Insurance Agency is here to help you and your teen through this process – at least when it comes to your insurance policy.
When you add your teenager to your Massachusetts auto insurance policy, you will notice your premium rise. This is because younger drivers are less experienced when on the road, meaning that they are at a higher risk for being involved in an accident. Thankfully, there are a few ways that you can offset this cost with discounts.
Each insurance provider is different, so talk to your Boston insurance agent about whether or not you qualify for these types of savings on your car insurance policy:
Good Student Discount
Is your teenager a good student? If so, you could save a significant amount on their car insurance policy. Many auto insurance providers offer a discount to teenagers that can prove academic success. How this is done is based on the insurer, but often involves a certain GPA, a highly ranking standardized test score, or inclusion on the honor roll or Dean’s List. These good student discounts are available to both high school and college students and may extend past a student’s teenage years. Ask your insurance agent to find out more about the requirements.
Drivers Education
Teenagers are expensive to insure. One of the biggest reasons for this is their increased risk. Because teenagers are still learning to drive, they have not yet mastered the rules of the road and are therefore more prone to being involved in accidents.
However, insurance providers know that teenagers with formal driving education are less of a risk on the road. That’s why many offer a rate reduction to those teens that pass Driver’s Education, whether it’s as a school class or offered elsewhere through a driving school. As you probably know, this is a requirement for receiving a Driver’s License in Massachusetts, so remember to tell your insurance agent once this is complete to see if it will result in a discount on your auto policy.
Vehicle Safety Features
If you are going to get your teenager their own car, you have a tradeoff to consider. Older cars are generally worth less, and therefore cost less to insure. On the other hand, you want to make sure that the car your teen drives has plenty of safety features in case of an accident. Some of these safety features can also earn you a discount on your car insurance. If you’re in the market for a new car, ask your agent about which features mean the most to insurance providers, and make sure to include them in your vehicle. Most often, this includes extra airbags to protect you in case of an accident, as well as anti-lock brakes and anti-theft devices.
Safety features are important but be careful of how many bells and whistles you allow your new driver to use. Distracted driving is an increasing problem as our cars get smarter, and teenagers can be especially susceptible to taking their eyes off the road and getting into an accident. For more information about the dangers of distracted driving, as well as the increase of dangerous ‘infotainment’ systems, read our blog post from December entitled “New Cars Causing an Increase in Distracted Driving.”
Harness Technology
There is a recent emergence in automobile technology that can help save you money as the parent of a teenage driver. With many insurance providers, you can choose to install a small device under the dash of your car that will monitor the way that your vehicle is driven, including the distance covered, times driven, speed, and hard braking.
It’s important to know, though, that this technology has its limits. You are able to view driving stats from your home computer (some of these services also have apps) but you can’t differentiate between drivers. Also, this technology can help safe drivers save money, but it probably won’t do you much good if the insurance provider’s algorithm doesn’t judge you as a good driver.
Other Money Saving Tips
It’s important to remember that you don’t need a teenager to save money on your auto insurance policy. At Vargas and Vargas Insurance Agency, we use many methods to help our clients save on their auto insurance, including adjusting premiums and coverage, and much more!
So, let us ask you this: Are you receiving all the auto insurance discounts that you can for your teenage driver? If you’re not sure, just call Vargas and Vargas Insurance Agency at 617-298-0655. We can review your current auto insurance policy and see if there are any additional discounts for which you qualify.
