submitted by Rick Meyers, AAA Insurance Broker/Nichole Meyers, Richboro Office, cluballiance.aaa.com/Agent/NicholeMeyers
Growing up, my friends and I would talk about all of the things we would do and the places we would go when we turned 16 and could finally drive ourselves. I grew up in a blue-collar middle-class family and so I knew we didn’t have a lot of money. I was fortunate that my parents decided to hand me down the van and purchase another car for themselves. I played three sports and had two younger brothers – so this decision may have been more for their freedom than mine, but either way I was ecstatic! They also agreed to pay my insurance as long as I paid for my own gas (which was deal as it was $.70/gallon and took less than $10 to fill the tank up!)
Now, having three boys of my own and owning an insurance brokerage, seeing the impact of adding a 16-year-old to a policy, let alone with their own vehicle, I’m not actually sure how my parents afforded it! Thanks Mom & Dad!
Here are a few tips to keep the insurance cost down when adding that excited 16-year-old to your policy:
*Good Student Discount – A, B even C average grades can result in a 15% discount for the child. Providing a report card or transcript is usually all that is required.
*Teen Smart Discount – Specific to AAA insurance this is a course that offers a 24% discount for the child and stays on until the child turns 25, diminishing slightly every two years. Studies have shown taking this course has led to 30% fewer crashes and 70% less traffic violations.
*Distant Student – If the child is away at college, 100 miles or more without the vehicle, this discount can offer a 30% discount for the child.
If you have not had a policy review recently, adding that 16-year-old driver is a great time to shop. We are an independent insurance broker representing not only AAA but other companies and we are all about educating and offering advice without the salesy experience you may expect when you think of insurance!