Ask any parent, and he or she will tell you that a child’s teenage years are some of the most stressful. The fact that teens can start driving at the age of 16 only adds to this stress. Given that teenagers tend to drive with friends in the car, loud music playing, and other distracting behavior, in addition to the fact that they don’t have a great deal of experience driving quite yet, insurance rates for teens are significantly higher than other age groups.
It’s usually the case that a teenager does not own his own car outright, but rather uses a parent’s car or at the very least has a parent co-sign for the car. This means that car insurance is obtained through the parent’s policy, and not the teen individually. Despite the consistently higher prices for Ontario high risk car insurance, there are certain measures that can limit the sting of the premium price.
Many car insurance companies offer good student discounts, typically to students with at least a B average. Teens who take driver’s education courses, both on the road and in the classroom, can achieve an even bigger discount for proving their responsibility. The extra training not only brings instant savings but also strengthens driving skills and safety in the future.
Teens and parents can also seek lower insurance rates by buying practical cars with top safety ratings. While new, flashy cars may look nice, they are categorized as a higher risk level and thus a higher price point for Canada insurance policy premiums. Multi-vehicle discounts can help as well, in addition to skipping out on collision and/or comprehensive coverage if the car isn’t financed and doesn’t make financial sense to cover so thoroughly.
Teen drivers themselves can keep prices as low as possible simply by driving safely. Speeding, getting distracted, and failing to keep proper distance from other cars are all mistakes that result in accidents, and accidents send premium prices soaring. Careful, purposeful driving will always pay off!