Remember turning 16? Windows down, radio up. You would find any excuse to jump in your car and drive. The freedom of teen driving.
I can’t speak for the ladies, but I believe all males have a little Tom Cruise in them at some point in their lives.
The combination of that new found independence mixed with inexperience have a tendency to lead to accidents. Especially with teen driving.
I imagine parents reading this right now are cringing…But let’s take the offensive approach and look at how we can safeguard you, your teenage driver AND manage the cost of a new driver.
At the end of the day, remember it begins with you [parents]. You’re setting the example for your child.
Planning Ahead for Teen Drivers
Hindsight always seems to be 20/20. Imagine being 16 again and knowing what you know now?
Like anything in life, you can take some preventative measures.
Auto Liability Limits
On a cold afternoon when I was 16, driving around with a buddy, I backed into a lady. All due to my lack of paying attention.
The upside, no one was hurt. However, my parents’ insurance had to pay for damage to the lady’s car.
Should Johnny cause an accident, will your auto liability limits be enough to repair or replace someone else’s vehicle or pay for their medical bills?
TIP: Don’t allow your kid to let his/her friends borrow their auto. They’re putting your liability at-risk each and everytime.
Personal Liability Umbrella
Susie finds herself in a car accident where she’s at-fault. She maxed out the underlying auto liability limits we talked about above. Can you afford to write someone a check for their medical bills or a new vehicle?
Now imagine an Umbrella that sits above your vehicle. Following you everywhere you go.
A Liability Umbrella will provide protection in the event you exhaust your underlying liability limits.
Your child’s actions can affect you and your family.
These are a couple of inexpensive ways to protect you and your family.
Managing the Cost of Teen Drivers
Take a step back for a second. It wasn’t long ago that you too were a young Tom Cruise.
Having a youthful driver in your home may cause sticker shock, but there are a few things you can do to manage the cost of insurance.
Good Grades
Typically most insurance companies will offer a discount if your child has a B average or better in school. This is a win-win for parents. It’s one way to coax your child to get good grades and eases the cost of auto insurance.
Driver’s Education
Some insurance companies will offer a discount if your child attends a driver’s education course. This can be a good way for your child to gain some practical experience. Ask your agent if your auto insurance offers this discount. Even if your insurance company doesn’t offer the discount, Driver’s Education is still a good idea to consider.
Away at School
Is your child away at school (100+ miles from home)? Is he/she still a dependent (under 25)? Some insurance companies offer a discount for this situation.
Electronic Tracking
You may see some insurance companies offer electronic devices you can plug into your child’s car to monitor their driving habits. Some of them will even allow you to use an app to see where they are at via GPS.
And of course, you could never let your teen drive.
Remember, good habits begin with you.
Photo credit: Gage Skidmore Tom Cruise via photopin (license)
