Thursday, May 21, 2009
Teen Car Insurance Lessons For Parents (and Teens)
For many parents, their child’s teenage years can be a financially challenging time, especially when it comes to car insurance.
Teenage drivers are profiled by auto insurers as a much higher risk group than the general public, and are instantly saddled with considerably higher insurance rates than someone who is over 25, has been driving for a while, and has a clean driving record.
While this may seem unfair to some, it is based on the reality that teen car and motorcycle drivers represent a significantly greater risk to the insurance companies (who lose money when they have to pay out on claims) than drivers with a solid driving history behind them.
Unfortunately, the statistics support the bias against teenage drivers.
Throw in a couple of speeding tickets into the mix, and you (or your teenager) may not even be able to afford the premiums, and driving a car may be out of the question for your teenager for a long time to come.
That said, there are some things that parents (and teens) can do to help make the costs more manageable. Click on the link to discover more about what can help to Lower the cost of teen car insurance
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