Car Insurance for Your Teen Driver

The day you’ve been dreading is here. Your child has just turned 16 and for some unfathomable reason, the DMV has seen it fit to give him/her a driver’s permit. Not only do you have to buy him/her a car that s/he will now proceed to systematically demolish, but you also have to spring for car insurance. If the astronomical auto insurance quotes you’ve received are any indication, the insurance companies share your trepidation about his/her ability to navigate the roads without destroying everything in his/her path. But don’t worry, we’re here to help. This article will give you a few pointers on getting car insurance for your teenager.

The ‘New’ Car

It may seem like buying a cheap, old, Archie Comics style jalopy will save you money. Wrong. You would actually lose big bucks in the long run. A run-down car will need more repairs, more maintenance, and most likely will cost more to insure for specifically these reasons. At the same time, buying your little hoodlum a beautiful, growling sports car isn’t the solution either because the insurance company will slap on a premium that will leave your head reeling. The smartest decision is to buy a used car that doesn’t have too many years on it and is in good shape. Since the collision damage, the cost of repairs, and the likelihood of theft are significantly lower for used cars, you will be able to find cheap auto insurance quotes.

Auto Insurance Coverage

Teen drivers between the ages of 15 and 17 cause approximately $34 billion annually in damages, medical expenses, loss of life, and property, as asserted by the American-Automobile Association. Now, while it may be tempting to skimp on auto insurance coverage and opt for the required minimum, you may want to keep this statistic in mind. Without adequate auto insurance coverage, you might find yourself stuck in a position where you have to pay obscene sums of money to pay for medical bills and damages to property.

To add or not to add

You’re probably wondering if you should add your teenage driver to your own insurance policy. Well, this is debatable. You’ll have to measure the benefits of each according to your specific situation and insurance company.

But here are a few pros and cons to help you make that call

  • Pros: If your teen is added to your policy, s/he can avail of the discounts and privileges you enjoy. Also, compared to the premiums s/he would have to pay on his/her own, this might just work out to be cheaper.
  • Cons: Your own premiums rise by having a teen driver on your policy. Also, any claims, accidents or misdemeanors s/he makes will reflect on your auto insurance record and influence future premiums. Also, if your teenager had his/her own policy and miraculously turns out to be a decent driver, s/he’ll be accumulating good driver’s credit.

Affordable auto insurance

We saved the best for last. Your teen can actually enjoy affordable car insurance without compromising on coverage or quality! Care to find out how? Read the tips below:

  • Driver training credit – Some auto insurance companies offer drivers below the age of 21 a discount for completing a driver’s training course. This course also leads to your child becoming a better driver, which leads to fewer accidents, transgressions and claims, which leads to a clean driving record which leads us right back to the best car insurance rates s/he can possibly get!
  • Good student discount – Need another reason to wish your child had inherited your intelligence? Here it is. Many auto insurance companies often offer discounts to students below the age of 25 who have an average of B+ or above. One way to turn this to your advantage is promising your teen that you give him the discount/money saved every time he qualifies for the good student discount on car insurance. Win-win, right?
  • Safety first – Who says insurance companies are soulless, uncaring corporations? Good car insurance companies will pay you to stay alive and stay safe. Installing air-bags or buying cars that fall into the safe-car category will get your teenager a discount from several auto insurance companies.
  • Protect what’s yours – A car with anti-theft devices will get you yet another discount! Well, from some auto insurance companies. Hopefully yours is one of them. If not maybe it’s time to start looking at car insurance quotes from companies that offer this service.

Undoubtedly there’s a lot to be stressed out about when raising teenagers. You have to worry about their college education, about the opposite sex, about the funny smell coming from their rooms-oh the list is endless. But hopefully this article has alleviated your fears and concerns about your teenager’s auto insurance, leaving you with one less thing to worry about!

Information On Classic Car Insurance

There are people who collect classic cars, which can be a very expensive hobby. This is a hobby that needs to have adequate insurance on just in case something should happen to one or more of your Vintage cars. One of the first things that you need to do is contact the insurance company and tell them you want to get a classic auto insurance policy. If the insurance company does not carry this type of insurance, ask the insurance company to recommend a company that specializes in this type of insurance policy. This specialized insurance company will help you determine just how much you need to adequately insure this type of Vintage car. Your classic car may be worth more than you originally thought.

The reason that it might be advisable to put your classic car insurance through a company that specializes in classic auto is that this type of insurance has many different mileage plans, which means how many miles you will be driving your classic to in a years time. Most of these plans include rates for 1.000, 3,000, and 5,000 mile plans. This mileage includes the miles you drive to showcase your car in various Vintage car shows.
When you use a specialty insurance company for your Vintage car, there is no vehicle age limitation. This means that you can get insurance coverage on your classic car no matter how old your auto is.

Vintage car insurance will insure all different kinds of collectible cars because some collectors have a variety of collectible cars. To help you decide if you need special car insurance, look at your Vintage cars, and if any of them are antiques, race auto, street rods, or replicas of Vintage auto, you will probably need special classic car insurance.

When are figuring out how much insurance coverage you need, you need to think of the actual market value. Their value changes frequently so you should make sure that your insurance coverage reflects these changes. For example, a Vintage 1967 car may have cost your around $35,000 a few years ago, but once it is restored, it may bring over $200,000 at an auction so this is why you need to make sure that your policy reflects the actual market value. If something should happen to this classic auto you want to be paid the actual market value and not what you actually paid for the car.

If you have a classic car that you like to take to car shows, make sure that you have the adequate insurance, which could include it getting damaged at the auto show.

The Most Elementary Rental Car Insurance Tips You Cannot Miss

Upon stepping up to the counter of a car rental agency when renting a car, you will always be asked if you want to purchase insurance for the vehicle you will be renting. Do you really have to do purchase this? Because if you do, it will be like paying double auto insurance; one for the vehicle you own and one for the vehicle you are about to rent. So what do you really need to know about car rental insurance?

Simply put, rental car insurance is an optional coverage that you may avail whenever you rent a car from any car rental agency. This is normally included as an option in most auto insurance policies and usually comes in when you are forced to rent a car while your own car is being serviced or repaired. This generally pays you a small sum every day until your own car is ready. One of its advantages is that it can remunerate you a bit for your rental expenses as well as repair expenses. Also, it could help you a lot when you meet an accident while driving the rental car.

However, taking this optional cover may affect your present auto insurance policy. Looking into majority of auto insurance quotes, most of them will not include rental car insurance as an added coverage. Meaning, these policies will not include essential insurance coverage on rental cars such as damage or theft. However, as previously mentioned, it can include a certain amount for renting a car when your own car is being repaired.

When deciding on this option, before you include it in your own auto insurance coverage, take note of this. If you include it in your car insurance coverage and you happen to rent a car because of repairs to own car and you manage to figure in a car accident using the rental car, you will end up depleting the advantages of the insurance on your own car. And if you plan to restructure the policy, you will end up paying more.

If your car’s insurance policy does not include rental car insurance and you want to be on the safe side when renting a car, bring your car insurance ID with you to the rental agency and have your own car’s coverage transfer to the rental car. The agency will process this for you and you need not purchase insurance for the vehicle at the counter.

Knowing what you can do before you walk up to that rental car insurance agency counter can save you money yet at the same time, be assured of being insured. Remember, you need not shell out your cash for something which you already have. Read and understand the terms and coverage of your own auto insurance policy and prepare for days when you have to rent a car.