One of what parents dread the most is when their children demand their own car. As soon as your kid learns how to drive, you would be thinking of the possibility that they can get involved in an accident. Of course, you would be considering the cost of the car but your worry is more on what would result from the combination of teenage hormones and cars. You were once a teenager and you know that this combination can be the worst.
It is your job to worry as parents but whatever you do, do not forget car insurance. Car insurance will help you once those teenage hormones get hyper and crash the car. Money does not grow on trees and you know that but your teenager may not. Now that your teenager convinced you to buy them their first car, what should you keep in mind? A lot actually but do not ever get swayed into buying them the expensive models. Expensive models are charged with higher premiums. Also, these expensive models are the target of car thieves. Settle on an older model but with safety tools such as airbag and automatic seatbelt.
You also might want to include your kid on your policy rather than having their cars insured separately. Until the time that your child becomes a licensed driver, your insurance company will not charge additional premiums. Inform your insurance company, though, before adding your child on your policy because there can be consequences. Convince your kid to make good grades. Some car insurance companies give as high as 25% discount to students with good grades because good grades speak of responsibility. Meaning, your kid's good grades will be read by your insurer as a proof that your kid will think thrice before driving drunk.
Enroll your child in a formal drivers training course. Of course your kid needs to log 50 hours with an experienced driver according to the Graduated Driver Licensing Law but some companies give up to 10% discount for those who had formal drivers training course. Finally, remind your child to drive carefully and ram down their throats the importance of following traffic rules. Good driving record will get you discounts but if your kid gets into an accident, his or her license can get cancelled. Even if he or she keeps the license, you will have a hard time getting your insurance company to take him or her back under their wing.
It is your job to worry as parents but whatever you do, do not forget car insurance. Car insurance will help you once those teenage hormones get hyper and crash the car. Money does not grow on trees and you know that but your teenager may not. Now that your teenager convinced you to buy them their first car, what should you keep in mind? A lot actually but do not ever get swayed into buying them the expensive models. Expensive models are charged with higher premiums. Also, these expensive models are the target of car thieves. Settle on an older model but with safety tools such as airbag and automatic seatbelt.
You also might want to include your kid on your policy rather than having their cars insured separately. Until the time that your child becomes a licensed driver, your insurance company will not charge additional premiums. Inform your insurance company, though, before adding your child on your policy because there can be consequences. Convince your kid to make good grades. Some car insurance companies give as high as 25% discount to students with good grades because good grades speak of responsibility. Meaning, your kid's good grades will be read by your insurer as a proof that your kid will think thrice before driving drunk.
Enroll your child in a formal drivers training course. Of course your kid needs to log 50 hours with an experienced driver according to the Graduated Driver Licensing Law but some companies give up to 10% discount for those who had formal drivers training course. Finally, remind your child to drive carefully and ram down their throats the importance of following traffic rules. Good driving record will get you discounts but if your kid gets into an accident, his or her license can get cancelled. Even if he or she keeps the license, you will have a hard time getting your insurance company to take him or her back under their wing.