How to Reduce Car Insurance Rates For Young Drivers in Plano, Texas
'How to reduce car insurance for young drivers
in Plano,' by Mary Kay Bell and Debra DeRidder, will be the most popular research paper of this year at the student/professor conference. Young persons who drive older vehicles have higher rates for car insurance than other young persons.
Car insurance is a multi-billion dollar industry in Texas. Young drivers are three times more likely to get into an accident than those who are 25 years old or younger.
The Texas Department of Insurance compiles and releases statistics showing that young people make up about one-third of all insurance claims in Texas, and more than forty percent of all car accidents.
For young persons, the options for car insurance are limited. Young driver discounts are offered by most insurance companies but are not available in all areas, so if you want to get a reduction, your best bet is to contact the agent in your area.
Before making any recommendations, make sure that you do your homework and determine whether the insurance company in Texas has a plan for students. One Texas company offers a free insurance policy that covers a specific number of miles on a specific vehicle. If you take the vehicle to an auto salvage yard, you will still be covered by your parent's policy, but you will pay a fee for coverage.
Another recommendation is to check with the state department of insurance in Texas. They offer a driver education program for parents to help their children prepare for their first driver's education class. You may be able to enroll your child in a driver education program.
Don't think that Texas is the only state where you can reduce your rates. You might be surprised at how low the rates are in other states.
You can even get a lower rate by not having a speeding ticket, a moving violation, or a learner's permit.
Mary Kay Bell and Debra DeRidder researched for several years to find out how to reduce car insurance for young drivers in Plano. This article describes their findings and recommends what you should do.
First, the state of Texas offers a bonus. An established insurance company in Texas offers a discount
if your car is not older than five years old. Therefore, if you purchase a used car, the current owner can save money on his or her policy
. There is also a group insurance policy that will give a reduced rate if two or more members in the family use the same car.
Second, the Department of Insurance offers several programs for drivers in Texas. Every licensed driver in Texas pays a certain amount of money each month as part of their insurance. For those who want to save money, these insurance programs are great.
Third, the state of Texas offers discounts for students. A student driver with a learner's permit, on the other hand, does not need a license, but must pay the same insurance premiums as a licensed driver. Therefore, the student is less risky for insurance companies.
In 'How to reduce car insurance for young drivers in Plano,' the Bell and DeRidder study recommends that parents get a driving record history from the DPS, so that they know if the student has been in an accident. Most of the accidents were reported when the student was a minor, and therefore insurance companies will be much more lenient.
Finally, the authors recommend contacting the Texas Department of Insurance to see what discounts you qualify for, or what types of programs are available in your area. Your time is valuable, so find out how you can reduce your premiums.