Auto insurance is specially designed for your vehicle to protect it against damage or theft. Annually, more than 10million of motor vehicle accidents are reported in the USA. Unfortunately, a sizeable fraction of this figure is related to car accident. Car insurance also considers your safety issue, apart from safeguarding your vehicle from any unforeseen accident or theft. Auto accidents not only damage the vehicle but may also injure or even kill drivers and/or riders. This makes it more important to buy a car insurance policy that includes a clause concerning safety of the policy owners.
You will be surprised to know that even the teenagers can qualify for an auto insurance policy. Financial security is the main objective behind every car insurance scheme. In the event of an accident, you have to spend thousands of dollars for medical treatment. With an insurance policy, you can easily save that much. Even when you are responsible for the accident, the car insurance company will foot the bills for the injured drivers or damaged vehicle. In some states, your car won’t be permitted to hit the road if it is not insured.
It is often seen that teenagers are more reckless in driving. Most of them drive roughly and break traffic rules. It is not difficult to realize why they are more prone to heinous accidents. The parents are always concerned about their children’s safety. If a teenager holds a learner’s permit, then he must have someone by his side while driving the car. Most of the states necessitate the person accompanying the teenager to have an auto insurance policy that providers required coverage to the young driver. However, if the person sitting next to the driver’s seat happens to be nobody in your family, you need to check his or her insurance policy to know the extent of coverage. Some insurance companies allow you to include the name of your teenager in the policy if he/she owns a learner’s permit This will be a good choice for you, especially when your children are learning driving.
If your children already have a full-fledged driver’s license, then either include their names in your policy or get them a new one. Whatever option you choose, always consider some crucial factors. The advantage of buying a joint policy that includes your child’ name is that it may earn you multi-car or multi-driver discounts. All the perks related to the policy will be made available to your teenager. The flipside is that you have to pay higher premium and risk the perks if your child gets involved in an accident.
A separate insurance policy for your children has both some pros and cons. Your child’s driving record will not affect yours and vice versa. Even both of will get to enjoy separate perks. For most of the parents, a separate policy is much a preferred choice. This is because if their children earn tickets for violating traffic laws or involvement in accidents, it won’t blemish their driving record and they won’t end up paying high premiums for others’ wrongdoing.