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Auto Insurance Costs After Adding A Teen Driver
For most, car and auto insurance is already a costly but necessary plan. Driving without auto insurance is illegal virtually everywhere. Most auto insurance policies cost a few hundred dollars per year for the most basic plans but can cost thousands per year when other types of auto insurance are added on. In most states, collision insurance is the basic requirement for all drivers. Unfortunately, people with teens that are ready to drive will find that auto insurance companies will not let them insure teens cheaply. Teen drivers are the most likely to get into an accident, so they are much more costly to insure.
In most cases, teens can cost hundreds of extra dollars to insure in comparison to adults with years of driving experience. Teens cost extra because they have no proven driving experience, are most likely to get into an accident, and more. Most parents dread adding a teen driver onto their policy because it costs so much extra.
Fortunately, various programs are in place at many insurance companies so that parents can save a bit of money on their teen driver's auto policy each year. There are various discounts for teen drivers, but the most common one is the student driver discount that's given to students with good grades. Obviously, saving any bit of money is a great thing for parents that are stuck paying for car and auto insurance policies.
Teen drivers who don't suffer any accidents or driving citations for the first three years of their driving records usually see reduced rates from auto insurance companies. Of course, that is great news for parents that pay the car and auto insurance. The exact opposite can happen though if your teen driver gets into an accident or receives a speeding ticket, they will see their policies skyrocket in price.
Still, parents should look for auto insurance quotes online to see what the best price available for their teen driver is. Some companies do offer great car and auto insurance rates for younger drivers. Saving money on these policies should be the goal of every parent paying for auto insurance. Obviously, a quick online search takes only a few minutes and can result in some great rates and benefits, even with the addition of a teen driver.
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