My Son or Daughter Just Got Their License! Now What?
You're son or daughter just turned the age of the legal driving limit. It's an exciting day for them, but not so exciting for the parents. You know about all the dangers of driving a motor vehicle at a high rate of speed. You're concerned and you should be, but you are not the only one. So is the insurance company providing coverage for your son or daughter.
The law requires compulsory insurance which covers the vehicle and others in the event of an accident. The insurance will cover damages to other parties' vehicles involved in the accident as well as injuries sustained to others.
Compulsory insurance factors in driving age and experience before anything else, which makes for very high premiums for young adults just starting out on the road. Unfortunately, there is little you can do to alter this high premium for your children.
What you can do stress the importance of safe and defensive driving to your children. Tell them to avoid distractions and keep their eyes fixed on the road in front of them. If they do that, there premium will slowly progress in dollar signs as the years progress.
Most car owners are sensible enough to take out third party car insurance including coverage against theft. Although your vehicle may not be worth much, the coverage still protects you in case it is stolen.
The higher the value of the vehicle, the more your monthly insurance premium will cost. It's always a great idea to have comprehensive car insurance, but especially important for rare vehicles or vehicles in mint condition.
Comprehensive car insurance will be very expensive if the driver is young and lacks experience. Car insurance is also expensive for people with poor driving records.
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Filed under: Car Articles