PARENTAL PREMIUM CONTROL

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As parents of teenage drivers, we shudder at the idea of consulting the auto insurance agent about the massive premium increase associated with the addition our young driving enthusiasts.

Parents should recognized, that they do have considerable options regarding carriers, types of policy coverages, young driver discounts and rating categories. Some carriers offer lower rates to adult drivers while charging more than their competition for adding a young driver. This allows the carrier a better balance in risk exposure. Savvy shoppers should search the market for carriers offering lower young driver rates, then compare the increase in their adult rate to determine if a carrier change is appropriate. Review coverages to be sure the premium justifies the exposure consider the value of the auto the teenager is operating. Due to the number of Young Driver Discounts and many variations of the same, look at several policies before making a decision. Rating categories range from the Young Driver's usage of the vehicle to determining where the car is garaged.

Research is vital!