New York Insurance

• It might be wise if the parents inform their insurance agent that their teenager is added to their own car insurance policy. On the other hand, deliberate concealment of this fact is likely to impact the insurance coverage. Most car insurance companies will not charge additional premium until the teenager gets a driving license.

• Being a diligent student might be the key to the lower cost of the car insurance. Good grades are not to be neglected. Most insurance companies offer a teenage car insurance discount, sometimes as high as 25%, for bright students.

• Experience on the road is also a key factor for teenage drivers. Teenagers are required by the law to have a minimum of 50 hours with an experienced driver, but many companies offer up to a 10% discount for teenagers who have taken a formal drivers training course.

• Drive safely. Beware of penalties. In case of drink-driving the driver can be deprived of the opportunity to get into his car again. Although death and injury are the highest cost the driver could pay, a D.U.I ticket for a teenager is a real disaster. Traffic crashes and citations will also affect the teenage car insurance premium. If a teenager is caught with more than three penalties, his driving license may not be renewed.

• Keep away from sports cars. They are often the target for thieves; maintenance is expensive and insurance costs for such high-performance vehicles are much higher. It might be a good idea to contact the insurance company to get a quote before buying a car.

• There is another, clearly social aspect to teenage car insurance. Statistically, young drivers are more likely to visit night clubs. This increases the risk of vandalism in addition to risks as overcrowding and drink-driving.

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