Browsing articles from "November, 2011"

Teen driving insurance

Nov 25, 2011   //   by Joe   //   Uncategorized  //  No Comments

Here’s some good news about insurance. Your teen won’t need it until licensed and driving without you or an instructor in the car. Once your teen gets a learner’s permit, you’ll want to talk to your agent at Florey Insurance about costs and other issues involved in adding your teen to your policy. Most families do this by adding the teen to their existing auto insurance policy. You could also use this as a time to comparison shop to find the best insurance option for the whole family and your vehicles.

How to save money

Because the risk of a crash is significantly higher for young drivers, particularly during the first year of driving, your teen’s insurance rate likely will be higher than your own. In this phase of the preparing-to-drive process, you may want to consider these strategies to keep your family’s costs down:]

  • Raise deductibles to lower premiums. Ask your insurance representative how much you could save by increasing your deductible. If you file a claim after raising your deductible, you’ll pay a larger share of the costs, but the savings might be worth it.
  • Encourage good grades. You might want to look into this AAA good driver discount if your child is a full-time high school or college student between ages 16 and 24. Qualifications vary slightly with different insurers, but the student generally must maintain at least a B average, 3.0 GPA or be on the Dean’s List or Honor Roll. Rules greatly vary on this, so ask us for clarification.
  • Plan ahead. The type of vehicle your teen drives and how you classify your new driver – main or occasional driver of one vehicle, for example, can affect insurance premiums, so begin thinking about these decisions now.

Insurance requirements in PA

All Pennsylvania drivers are required to have insurance at the minimum levels of $15,000 per person for bodily injury, $30,000 per accident for bodily injury and $5,000 for property damage (15/30/5). Insurance companies in Pennsylvania determine rates based on factors such as your driving record, how long you’ve been a licensed driver, how much you drive, where you live and what you drive.

 

This article originally published at AAA here