Statistically speaking, teenage drivers are 60% more likely to have accidents when they’re behind the wheel than their parents are. We all know it, but that doesn’t stop our hearts from leaping in our throats each and every time we have to hand over the car keys-or keep us from flinching at the thought of what those accidents are going to do to our car insurance rates!
Did you know that the average car insurance company will raise your rates by 40% or more with your very first accident? When you think about what adding 40% on to your car insurance will do with your rates as they are when it’s just you on the policy that’s enough to make you squirm. Add that on to the fact that you’re already paying overinflated rates to help cover the cost of keeping your teenager insured and it’s enough to make you want to switch your teen’s major mode of transportation over to hoofing it-or buying a Schwinn. Whatever.
The best thing you can do to keep your teen driver from killing your car insurance rates is teach them to be a safe, responsible driver. Limit the number of people they have in the car with them at any time, and for the first year or so be careful with the amount of time they spend on interstates and major highways, since this is where the urge to put the pedal to the metal usually kicks in the strongest. It’s not always possible to head accidents off at the past though, as you probably already know very well if you’ve ever been in one yourself. Once they’ve already been in an accident the only thing you can do is try and play damage control. Continue reading ‘My Teen Was in an Accident – Is There Any Way to Resuscitate My Car Insurance Rates?’ »