Having your teenaged child driving for the first time can bring a mix of emotions. You are happy about their independence and apprehensive about their safety. At the same time, you can expect financial concerns regarding high car insurance rates.
Car Insurance Checklist
Everyone knows that coverage is expensive for young drivers, so your expense can rise significantly when your teen gets behind the wheel. However, there are ways you can keep the expense from burning a hole in your wallet. Canadian insurance providers have a checklist for parents dealing with this situation. Let us share it with you.
Connect with an expert
The best piece of advice is to connect with an insurance provider even before your child gets a learner’s license. An agent can give you a fair idea about the costs involved in insuring your teen driver.
Prepare to pay a tad more when they start, but rates will drop as they grow older. Involve the child in the discussion to make them understand the value of safe driving behavior and following traffic rules at all times. Apart from speaking with an expert, you can also do some research online.
Encourage positive behavior early
If your teen plans to get behind the wheel in the foreseeable future, you can encourage positive behavior early. Auto insurers offer lower premiums and discounts to young students who maintain good academic records in school.
Enrolling your child in a recognized driver training course is also a good idea. Start prepping early so that you can secure savings down the line.
Look for the right insurance company
Adding your child to your auto insurance policy is less expensive than purchasing one for them. You can discuss the option with your insurer and even seek a multi-vehicle discount.
Alternatively, you can check providers and compare prices to get the best deal. There are several reputed insurers across Edmonton and all other Canadian cities. If your teen is Planning on driving in Edmonton, get a Auto Insurance quote today! A little research on prices can take you a step closer to the right company that offers the best deal.
Opt for greater protection
It makes sense to get greater protection for a new driver because the risk of accidents runs high. Although you may train and educate your child, they may still have an accident. If your teen gets into one, state minimums for liability insurance may not suffice to protect you from lawsuits.
Higher liability coverage gives you peace of mind even if you deal with an unfortunate accident and lawsuit.
Get the right car for your teen
The best piece of advice is to get the least valuable car for your teen and make sure they drive only the one they are assigned. Of course, the vehicle must have the right safety features to keep the young driver safe on the road.
If the teen has an accident while driving an unassigned car, you can expect penalties, and your premiums might increase as well.