Paying for Your Teen Driver Just Got Easier
If you are the parent of a 14 -18 year old and have inquired about adding them to your car insurance policy; you are no stranger to the high costs of teen drivers! Fortunately, there are some programs that can offer you relief. Let's look at the reality of teen drivers, see if your policy is teen-friendly and review ways to save.
Are you aware that a 16-year old has a 67% probability and an 18 year old still has a 43% probability of getting into an accident? It's no wonder that insurance premiums often go into several thousand dollars when teen drivers are added. The insurance company needs to cover potential losses.
Since it is more likely you will file a claim with a teen driver in the house, wouldn't it make sense to get a policy that offers some kind of grace? That's exactly what Allstate's "Accident Forgiveness" and "Automobile Replacement" policies are all about. Your premiums will not increase as a result of a single accident and Allstate will pay for a new vehicle if it is totaled inside of 3 years from the purchase date.
Allstate does offer some additional incentive programs where they have seen reduced risks in the teen population. There are four additional ways to reduce your teen driver premiums to save $100s, or even $1000s over the course of the year.
Attend a drivers education or defensive driving program: In Georgia, this is mandatory to get a learner's permit. This alone will shave 10% off your premiums.
Maintain a 3.0 GPA or better: If you ever wanted to have leverage to get your kids to do their homework and study hard, this is probably the best one. Most teens will fight for this privilege, helping you save an additional 10% discount.
Purchase and complete the TeenSafe Driving Course: This exercise includes a workbook and DVDs for both the teen and the parent to go through. There are adult- monitored driving tests and an online certification test to complete this process, and both the parent and teen will have a clear understanding of safer driving practices. Allstate will take off an additional 10% upon completion.
Keep your record clean: Keep both your teen and your records clean and get a 5% decrease every six months in your premium as a safe driving bonus. If you are new to Allstate, you can also get an instant $100 deductible reduction for every year you go without filing a claim, up to a $500 discount.
If you are getting ready to add a teen to your policy or already have one on there and are not with Allstate, call 678-574-3245 to see how we compare. Ask for your FREE copy of our Teen Driver Contract to discuss with your teen to clearly outline the responsibilities of driving and show them the consequences for not living up to those responsibilities.
Karen Evans, a Cobb-native and 12 year veteran of the insurance industry currently
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