What Is The Cheapest Auto Insurance For Teenagers
What is the cheapest auto insurance for teenagers. The truth is there is not any company that is willing to insure young teenage drivers without requiring a higher upfront fee. Teens are risks takers, and many of them like racing, fast cars, and some of them are impatient when it comes to safety.
For this and other reasons not mentioned, companies require that young drivers neither get on the policy with their parents nor pay a hefty fee. More so than likely, many parents will choose to enroll their child in their plan. What this will mean for mom and dad is higher monthly premiums.
The rates for teens drivers will continue to be high. They are risky drivers and the policy writing company must protect everyone involved. Besides, if the student is involved in an accident and has no coverage the parents are usually the ones that will suffer the consequence. If the teen was driving, the parents car they could be fined or sued.
There is definitely no cheap quotes or coverage for this younger generation. Many companies already have their prices set, and law sets most prices. Lawmakers normally set the price of coverage that is imposed by insurance companies. The only way a teen could probably get a break in their payments will be not to get into an accident.
If a teenage does acquire auto coverage at a young age and does not have any accidents, infractions, or warnings on their driving record for a few years, they may be eligible for lower rates. This will depend on the company. Many companies do reward the young for being responsible by offering them or their parents lower premium rates.
However, once the teens reach their mid 20s their payments tend to drop considerably. At this point, the company feels that the teen is not much of a risk taker at this age. The older the teens becomes the less their payments will become. Once the teen reaches the legal age of maturity the parent can have the child to come off their policy and get their own.
Teens who drive four door sedans and lager cars can expect their payments to be lower. Most premium prices are based on the model of the car the teen drives and the year. Young teenagers should consider what kind of car they want before they try to get insurance.
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