Those turbulent teen years: They are still kids in adults’ bodies. Because they now require a number of things that adults enjoy (like driving), they need at least the minimum car insurance cover required by law.
I know you know that teenagers probably account for more crashes than all other age groups combined. I also realize that you know that this means very high premiums. As if you didn’t have enough challenges. But the law is the law and you’ll do well to get your teen covered.
A question arises: Shouldn’t my ex-spouse be the one to bear the burden? It depends. It depends on your insurance company’s policies. You’ll do well to check with yours as they have different positions…
Some may maintain that whoever has custody of the teen driver is responsible for his/her auto insurance. Others may have a policy that puts that responsibility on the parent that has more custody of the teen driver. Some yet will expect both parents to have their teen driver on their car insurance policy irrespective of who has custody of the child.
Different positions but the summary remains that somehow someone has to bear the responsibility of providing this all-important cover. If you withhold information regarding the fact that you have a teen driver, your insurance company may be empowered by law to cancel your insurance policy. Therefore, if you are in doubt, ask your insurance company.
Since adding just one teen driver could add as much as 50-100% to your car insurance premium, it’s important that you learn how to make the most savings possible. Different insurance companies have different policies. They have different parameters for calculating your car insurance rates. Therefore, take the time out to understand this process. That way, you’ll be able to take advantage of all the concessions possible.
By: Chimezirim Chinecherem Odimba
Posts Tagged ‘Doubt’
Your Teen’s Auto Insurance — You or Your Ex-spouse?
November 8th, 2009Is Liability Insurance Enough Auto Insurance?
October 1st, 2009Auto insurance is, without a doubt, one of the most important forms of insurance available today. In fact, it is so important that our government has made it required by law. These laws, however, are rather minimal, typically requiring minimal liability insurance coverage. This is usually enough to protect others from damage to their property, and for possible medical needs. But, in many cases, a complete comprehensive auto insurance policy is a smart choice.
Liability insurance is commonly purchased by many, just to meet the minimal requirements. Liability insurance is essentially insurance that protects others if you’re involved in an accident and are at fault. Liability insurance does not provide any type of damage protection that you may do to your own car. For those of you who drive beat up automobiles, you may not be too concerned about any damage you do to your own car, so liability insurance is often the common choice. It is important to understand that what is required by law in the form of liability insurance is very minimal. For example, you may have coverage that only ensures you up to a certain point. This certain point can be reached rather quickly; some are as low as $10,000. With $50,000 vehicles, not at all the common these days, it’s real easy to reach the stated $10,000 limit. After you surpass that limit, it’s all on you, so to speak. If you do $20,000 worth of damage to someone’s car, you’ll be liable for the remaining $10,000. So, consider your coverage wisely.
The next step up in simple liability insurance coverage is your standard full coverage auto insurance. Full coverage auto insurance is not always that much more expensive than basic liability insurance. It really depends on the specifics involved in your coverage. Things like your deductible, amounts of coverage, and the city in which you live all effect your auto insurance premiums. Shopping for competitive rates can save you substantially. You’ll have to determine how much coverage is best for you and your family.
The importance of having adequate auto insurance coverage cannot be stated enough. Regardless of your advanced driving skills you always have to worry about other drivers. Even Michael Schumacher has to deal with the inadequacies of other drivers. A large number of these drivers are driving illegally and irresponsibly, without proper auto insurance. No matter how well you think you can trust yourself, these drivers’ habits and abilities are out of your control. One way to protect yourself from this is to make sure that your auto insurance includes for uninsured motorist protection. Be sure it does, many full coverage auto insurance policies don’t. Uninsured motorist coverage protects you, if you’re in an accident with an uninsured driver. Moreover, it protects you, even against drivers that may not have sufficient auto insurance coverage. A good example of this would be the $10,000 example stated above. So, if you drive a nice car, make sure that you have the proper insurance for the uninsured.
The importance of having adequate auto insurance cannot be stated enough. Liability insurance provides a minimum that meets rather low requirements by our government, but it’s rarely enough. If you’re looking to save on auto insurance you’ll find that the Internet is an excellent tool. You can get a quote from multiple insurers, which well provide you with competitive quotes. So if you’re worried about cost, this will really help you save. Though it’s important to note that all insurance companies are not created equal. Go with a quality insurance company that will be there for you when you need them.
By: Timothy Simmons
