07 May Teenage Drivers Need to Know the Cost of Auto Insurance
Having a child grow up does not only mean changes for them, it means changes for you too. Kids getting older bring many changes to the family, like adding another driver. Is your kid getting his or her driver’s licenses this year? Will they be driving a new vehicle to and from school every day? Or traveling to college? These are important questions to consider as you start evaluating your vehicle insurance policy.
Having a new driver in the family can be expensive. Before your teen takes off driving for the first time they need to know what it is costing you. Adding a teen driver is expensive and can raise parents rates from 20%- to over a 100% depending on the state as well as, the type of vehicle the teen will be driving. Typically, liability only is the less experience way however, this coverage will only pay for the other person’s vehicle to be fixed if your teen is in an at fault accident. The teen’s vehicle is not covered. If you should want your teen’s vehicle to have full coverage it will cost more money. Comprehensive and collision coverage’s are simply more expensive because it offers more coverage, plus teen drivers are grouped into the ‘inexperienced and riskiest’ category. North Carolina is one out of the five states that does not consider gender when increasing insurance rates for new drivers.
There could also be insurance adjustments if your kid is heading off to college. If they are not taking their car with them, your insurance premium could decrease, depending on several factors. If they are taking their car with them, your insurance may increase due to a new location. It is best to talk with your insurance agent to see what will happen to your insurance policy with a new driver. We discuss the needs of our insured and go over all the insurance terms and coverage’s offered. Educating our clients is what we do. At Spivey Insurance Group, our agents are there to answer any personal questions you have concerning your family and auto insurance policy. Call our agents today at 704-821-4460. Keep up with Spivey Insurance Group throughout the year on Twitter, Facebook, Instagram, Pinterest, and Google Plus.