Mix the euphoria of eliminating an endless array of teenager pickups and drop-offs from friend’s houses with the worry of “will they be safe?”, “why aren’t they home yet?” and “how do we afford it?”. Yep, you have entered the Teen Driver Years.
Insurance Advice for the Family with Teen Driver
Who is the Family with Teen Driver?
- 40-55 years old parents, increasing demands on time, well-connected in the community
- First child turning 15/16 in high school (grade 9-11), wants to assert independence quickly by driving their own car
How many Canadians?
- 200,000 new families annually
- Worried about safety and increasing independence of oldest child.
- Susceptible to peer pressure from other teenager children and other parents.
- Only 28% of 16 year olds have driver licenses vs. 46% a generation ago – biggest reasons are: economic, safety, employment concerns and more active parenting
isure Insurance Guidance
Shop around for Cheaper Insurance
Use experienced isure brokers to find better policies, leverage all available adult driver discounts and/or raise deductibles for collision and comprehensive coverage (maintaining a high enough threshold for liability to protect the family’s assets in case it’s needed).
Get Out of the City
Likely not realistic but, if you’re living in a crowded urban area, consider relocating to a quiet suburb or bucolic rural area where rates tend to be lower.
Raise Their Smarts
Insurance companies often give price breaks to kids who take specified driver safety courses. Ensure they are aware of the 8 leading causes of teenage driving accidents:
- Speeding and reckless driving
- Driver inexperience
- Driving with teen passengers
- Nighttime driving
- Not using seat belts
- Distracted driving
- Drowsy driving
- Impaired driving
Join isure Telematics
Keep rates lower by using our groundbreaking, isure Telematics program to reward safe driving habits based on real-time monitoring that plugs into a car’s onboard diagnostics port.
We recognize the die has already been cast on this one but teenage boys have a average 98% surcharge vs. an average driver, while teenage girls are only 73%.
Delay the Driving Need
Learning how to drive a car is becoming a later teenager skill for many than when you grew up. Initial premiums for a new 19-20 year old driver are lower than those for a 16 year old.
Stay Accident Free
Educate your teenager on the variables and range of issues if your teen has tickets, accidents or infractions. Provide hard facts on safety in a shareable ways to the teen driver. Crash risks are highest for teens in their first few months of driving and when other teens are passengers. This is serious stuff - beyond the astronomical insurance economics after teenager auto infractions, 37% of them will crash before they are 23 years old and they are four times more likely to be automobile fatalities.
Don’t Get the Flashy Car
If your teen gets the top of the line this early in life, what do they have to look forward to in the future? Older non sporty vehicles and sedans tend to deliver lower premiums – lower premiums also get attributed to models that have strong crash-test ratings that are equipped with safety features, including antilock brakes, stability control and front/side-impact airbags.
Piggyback on your parents’ policy
If your teenager doesn’t plan on driving that often - an occasional teenage driver will pay a lower premium than a principal teenage driver. Even if as a teenager, you are buying your own car, consider jumping on your parent’s policy – discounts may be given for having more than one car on the same policy.