Sunday, May 23, 2010

Insurance for your Teenage Children

If your teenage children drive a car, they will need car insurance, which, you will, in all probability, have to pay for. There are a few things to know if you are buying your kid's insurance. Most of these are things you cannot help and have no control over; but it is good to know about them, all the same.

First of all, you should know that adding your teenage children to your insurance policy is going to cost you quite a lot of money. Rightly or wrongly, insurance providers are convinced that teenagers are poor drivers. If a teenager gets his or her hand on the wheels of a car which is insured by a insurance provider, sooner or later, it is going to cost them money. Whether this is true or not, this is what they think, and they have the statistics to back them up, so it is probably true anyway. The gist of the matter is that, add your teenage kid to your insurance policy, and your premium hikes up a lot. There is nothing you can do about it, so just plan ahead.

Secondly, in a volte face of societal male-favoritism, it is taken for granted that teenage boys are more reckless drivers than teenage girls. Again, there is data to back this up; on an average, teenage boys cause more accidents every year than teenage girls. So, you have to suffer for that bit of statistical trivia, especially if you are the father of a teenage son. Your insurance premium hikes up, because insurance providers think they are at a larger risk if your teenage son drives your car.

While these are all hard facts, it is nevertheless true that there is a certain parental joy in letting your son or daughter drive your car. So, let them drive, and plan for that extra premium cheerfully.

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