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Insurance for teenagers: insuring your car and your child

Your teenager is driving, congratulations! I’m sure you’re excited. However, teen insurance is expensive. Insuring a teenager could possibly double the cost of her family’s auto coverage. Insurance companies have their reasons for this, and their reasons affect you more than you realize. First, adolescents represent the riskiest segment of the population and account for the largest number of fatal accidents. In addition to this, and in the midst of an economic crisis, it should be noted that the estimated annual national cost of teen driver accidents is thirty-two billion dollars.

There is a need for driver education. Encourage your teen to make wise driving decisions. They must learn to have a good time and still be careful. While we probably can’t eliminate teen drinking and driving, we can proactively encourage its decline. 25% of teen car crashes are alcohol related, so as parents we need to start driver education at home. Driver education classes are also available. These classes not only improve your child’s driving skills, but also reduce insurance premiums. Formally educated drivers are less risky for insurance companies.

You can counteract the hassles of teen car insurance. Choose a safe car to drive. The model you choose will directly affect the cost of your coverage. Try to include your teen in your family policy if you haven’t already. Once again, consider driver’s education classes. Ask your insurance company about student discounts. Trust me, there are ways to save on insurance. The reason why nothing is done. The positive changes that could take place in the world of teen insurance would take too long for anyone to care. By the time we implement new driver’s education requirements and legislation that could eventually lower the cost of insurance premiums, the parents and teens fighting for cost reduction will be decades older. And I haven’t read of any president signing a bill to eliminate the causes of high teen insurance costs, even though it could reduce the $32 billion we spend each year on teen car accidents and save precious lives. The solution is long-term and, as of October 16, 2008, is virtually non-existent. If you are concerned, speak up where it counts and write to a state representative.

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