Good Student Discounts
Another Advantage To Doing Well In School: Auto Insurance Rates
So your mother keeps telling you that all your hard work and perseverance in school will pay off in the end. You may think she's just saying that so you'll do your homework and get good grades. This may be true, but there is another advantage to doing well in school; auto insurance rates.
Auto insurance rates and doing well in school
Many parents dread the prospect of having to put their teenager on their auto insurance policy, and for good reason. Insurance premiums for teenagers can be very costly. It probably has something to do with the fact that 16 year-olds have higher crash rates than drivers of any other age. This is due to a number of reasons, including the high rates of cell phone use while driving and being distracted by other passengers in the vehicle.
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Lowering auto insurance rates by doing good in school
As a teenager, it's not only a good idea to be a good student, but it also helps if you purchase a second-hand vehicle, rather than a new vehicle. A used vehicle may need some work, but the savings in auto insurance coverage will more than make up for that. You also won't have to carry collision coverage on a vehicle that doesn't have a loan associated with it, which means your auto insurance rates could be significantly lower.
Have your young driver enroll in a driver's safety course. Insurance companies will offer discounts for the successful completion of these types of courses. Also, let your teenager know that there's another advantage to doing well in school; auto insurance rates that won't break the bank.