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As a parent of Pre-teens it is important for me, as your Independent Insurance Agent, to help prepare you for the sticker shock that will inevitably come should you choose to insure your Teenager.
Let’s start with the obvious unrefutably fact: Teenagers get into accidents. (I did. I ran a red light when I looked down to change the radio, and I tee boned a car.) Teenagers have little to no experience driving. They hit parked cars. They hit your house when backing up out of the driveway. When pulling into your driveway. They hit cars merging in traffic. They hit everything.
Quick recap on how insurance rates are worked up: One principle that drives the Insurance Industry is THE LAW OF LARGE NUMBERS (Lets review the law real fast- When I flip a quarter I have a 50/50 chance of getting heads or tails. But when I flip a quarter 4 times I might get Heads 75% of the time and Tails 25% of the time. The more I flip the quarter the more that data smooths out and we get closer to the 50/50 ratio that is indeed correct.) Insuring anything is the same way. Teenagers too. If you insure enough of them, over enough years, you then have enough data to suggest they suck at driving, and will most likely hit something causing a claim. If an insurance company knows a claim is coming or more likely to come- Surprise! RATES GO UP! HOW UP? WAY UP!
How, expensive? VERY expensive. Double the price, expensive.
Why?
Teenagers have proven to be pretty good at being pretty horrible drivers for over 100 years.
What you can do? If you want your teenager to drive. Buckle up. Its gonna cost you. However, many companies offer good grade/student discounts. Good driving discounts. Etc. Ask me about these discounts and Telematic devices carriers use to understand the driving habits of individual drivers so they can rate more effectively your good driving teenager from the one next door.
As your Independent Insurance agent, I can always shop and assure you have the best coverage for you and your loved ones. In addition, I represent numerous insurance companies. Some rate young drives more aggressively than others. We can take a proactive look at that for you. But in the end, if you have a teenager progressing towards driving, prepare yourself of the sticker shock of that Privilege.
As a parent of Pre-teens it is important for me, as your Independent Insurance Agent, to help prepare you for the sticker shock that will inevitably come should you choose to insure your Teenager.
Let’s start with the obvious unrefutably fact: Teenagers get into accidents. (I did. I ran a red light when I looked down to change the radio, and I tee boned a car.) Teenagers have little to no experience driving. They hit parked cars. They hit your house when backing up out of the driveway. When pulling into your driveway. They hit cars merging in traffic. They hit everything.
Quick recap on how insurance rates are worked up: One principle that drives the Insurance Industry is THE LAW OF LARGE NUMBERS (Lets review the law real fast- When I flip a quarter I have a 50/50 chance of getting heads or tails. But when I flip a quarter 4 times I might get Heads 75% of the time and Tails 25% of the time. The more I flip the quarter the more that data smooths out and we get closer to the 50/50 ratio that is indeed correct.) Insuring anything is the same way. Teenagers too. If you insure enough of them, over enough years, you then have enough data to suggest they suck at driving, and will most likely hit something causing a claim. If an insurance company knows a claim is coming or more likely to come- Surprise! RATES GO UP! HOW UP? WAY UP!
How, expensive? VERY expensive. Double the price, expensive.
Why?
Teenagers have proven to be pretty good at being pretty horrible drivers for over 100 years.
What you can do? If you want your teenager to drive. Buckle up. Its gonna cost you. However, many companies offer good grade/student discounts. Good driving discounts. Etc. Ask me about these discounts and Telematic devices carriers use to understand the driving habits of individual drivers so they can rate more effectively your good driving teenager from the one next door.
As your Independent Insurance agent, I can always shop and assure you have the best coverage for you and your loved ones. In addition, I represent numerous insurance companies. Some rate young drives more aggressively than others. We can take a proactive look at that for you. But in the end, if you have a teenager progressing towards driving, prepare yourself of the sticker shock of that Privilege.
