One of the proudest moments for a parent is to hand over the keys for their car to their teenager. At the same time, it can be one of the most terrifying things in the world. Teenage drivers are under a lot of risk when they are on the road. The thing is that one in every fifteen teenagers is likely to get into an accident during their first year of driving.
If an accident happens, you will obviously be worried about your child’s safety over everything else. We understand that an insurance premium might be a secondary concern for you when it comes to your children. The thing is, once you have them added to your insurance policy, you might be in for a bit of a shock. Teenage drivers are high risk drivers. That means the high risk auto insurance in Ontario for teens will definitely have an effect on your premiums.
Of course, having your child properly insured will give your mind some peace (and will save you money). Take a look at a few important things that you need to know about high risk auto insurance in Ontario for teens.
- Teenagers with Learner’s Permits Don’t Need to be Added to Insurance Policy
If you are not a high risk driver and your insurance premiums are normal, you might be worrying about the premiums skyrocketing with your child on the policy. The thing is that your teenager does not need to be added to your insurance policy is they have a learner’s permit. Until your child obtains a proper driver’s license, you won’t need to have them under the policy. This means you won’t have to pay for the pricey Ontario high risk auto insurance premiums.
- Assigning a Car
This is an understood thing. Some cars happen to have a higher insurance premium than others. It kind of makes sense. A car that is more expensive will cost more when it comes to fixing or replacing it. If you have an old car, you won’t have to pay as much to replace or fix it. So if you have a Lexus and a ’95 Civic at home, the insurance company will always assume your child is driving the Lexus. This means the Ontario high risk auto insurance premium for your child will be a lot more expensive than they have to be.
To avoid that situation, get the less expensive car assigned to your child.
- Used Cars and Lower Price Tags
While we’re on the topic of cheaper cars, it may be helpful for you to know that an older and used car will carry lower premiums for high risk auto insurance in Ontario. If you’re planning to purchase a car for your teenager, opt for a used car rather than a brand new one. It goes without saying that you need to get a mechanic to make sure that the car is completely safe to drive. Plus the car doesn’t necessarily have to be an ancient model. If you get a used car that has safety features like air bags, anti-lock brakes, and anti-theft devices, the premium of the Ontario high risk auto insurance will be lower.
For More Information
If you’re looking to get more information for high risk auto insurance in Ontario for your teenager, you can always contact 2nd Chance Auto Insurance. We’re a company that provides comprehensive and flexible high risk auto insurance policies in Ontario. We’d love to answer any questions you have.