Mother of Teen Driver Asks, Now How Much Car Insurance Coverage Do I Need
Posted on April 12th, 2010
Companies rate Drivers different which means, the company you’re currently with may not be giving you the lowest rate for the coverage you need. On a scale from 1-10, how well do you think you insurance company is treating you with the amount of coverage provided by the Company and the amount you pay for your car insurance premium? The first step is to evaluate the coverage you currently have.
Understanding How Much Car Insurance You Need:
Every Driver’s insurance needs are different. The amount of coverage you need will depend on your vehicle’s value, how many assets you possess, whether you have teenage Drivers within the household, and several other factors that determine your overall risk as well as the amount of valued property is at stake. Evaluate the risks and determine how much loss could occure if the worse case scenary happens. Parents with Teens driving are at more risk of an accident occuring. If you own your own home and other property such as an RV or another car, You have much to more to lose compared to a younger Driver.
More On Teen Drivers
Laws vary from state to state when it comes to the legal driving age. If you reside in a state where Children under the age of 18 can drive, you may want to be selective when it comes to the type of car you would like to insure them under. Rates for Teens are expensive and the more loss that could occure, the higher that rate will be. It’s best to insure a Teen on a car with low value that you would’nt mind covering with liability coverage only. Once you select the comprehensive and collision coverage for a car a Teenage drives, the premium can and will go up several hundred. Rates for Teens can go down if they’re a good student with a minimum 3.0 GPA. Companies in some states are now offering discounts to those who install a monitoring device which reports driving habits back to the Insurer. While most people don’t like the idea of having their Driving habits monitored, this is a great way to keep an eye on your younger Teen Driver who may still have much to learn about responsibility behind the wheel. Insurers understand that some Teen Drivers are very responsible but after taking a look at statistics, they also know there is a large portion of Teen Drivers who do not fully grasp the entire concept of how to drive safely and responsibly. This is where the good students earn discounts. The insurance companies have found that Students with higher GPA scores have proven a higher level of responsibility behind the wheel also.
If you find there are too many factors at play to where you’re having a hard time deciding how much coverage you need, it may be time to sit down with a local Agent who can go over all the various coverage options available in order to set you up with a well cutomized insurance policy.
One option we have for our shoppers is the option to request an insurance quote from a local independent insurance agent. By using this option you can send the request to the local Agent of your choice and then when in touch with the Agent you can review your insurance needs either over the phone or in the office.
I hope you enjoyed our post on evaluating coverage with teen drivers in the home.
http://www.low-insurance.org/top/deciding-on-coverage-for-teens/.
On our next post we will be providing some useful tips you can use to prepare for the warm months ahead.
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