Louisiana teens driving with licensed adult supervision on their learner’s permit do not need to have their own insurance policies.
However, once they begin driving on their own, they will need insurance. Therefore, as a parent, it’s essential that you begin exploring options to keep the costs reasonable.
Many families add their teen drivers to their existing automobile insurance policies, but you may decide to also shop comparatively for the best insurance option for your family.
How To Save Money On Insurance
The risk of collisions is considerably higher for teen drivers, especially during the first year of driving. As such, the cost of insurance for your teen is more likely to be higher than for you.
Some strategies that you can apply to reduce insurance costs both now and when you add your teen driver include:
- Consider raising your deductibles. Generally, insurance premiums and insurance deductibles have an inverse relationship. As such, when you increase your deductible, it results in a lower premium.
Ask your insurance representative how much you can save if you raise your deductible. If your premiums increase after an at-fault accident, contemplate raising your deductible (if affordable) to reduce your annual premium.
- Check for discounts. Some insurers offer discounts for teens who complete defensive driver courses or driver education and students who get a “B” or higher grade average.
- Share vehicles. The way you classify your new teen driver, as an occasional or the main driver of one car, for instance, will affect insurance premiums.
- Avoid buying sports cars and SUVs for your teen driver. Be smart when choosing a car for your teen driver.
Experts have agreed that midsize sedans are the most suitable choice for teen drivers. Small cars don’t give as much protection in collisions, and sports cars could encourage recklessness or speeding. On the other hand, teen drivers would find SUVs and pickup trucks more challenging to maneuver.
- Practice often with your teen. Drive more often with your teen driver under various conditions so they’ll get accustomed to the mechanics of operation when you’re no longer in the vehicle.
- Be involved. Studies have shown that teen drivers with more involved parents engage in less reckless driving and receive fewer tickets.
- Inquire about accident forgiveness. When shopping for vehicle insurance, ask insurance companies if they have an accident forgiveness policy. Although not all providers offer this, those that do will give you one at-fault accident with no increase in insurance premium if you satisfy certain criteria.
Louisiana Car Insurance Requirements
Every Louisiana driver is required to have auto insurance at the minimum levels of $25,000 per for property damage, $15,000 per person for bodily injury, and $30,000 per crash for bodily injury.
Louisiana insurance companies determine rates on conditions such as how much you drive, the vehicle you drive, how long you’ve been a licensed driver, your driving record, and where you live.
Effects Of An Accident On Your Insurance Rate
The increase in insurance premiums after an at-fault accident differs depending on your driving record, vehicle, and insurance company.
The rise in insurance premiums after an at-fault accident can last for as long as three to five months if the damages to your car exceed $2,000. But, of course, the rates can differ, with some insurers charging significantly more than others.
If the accident was not your teen’s fault, your insurance provider might not increase your premium. However, if you or your teen have been in several accidents, your insurance premium could be increased even if the accident was not your fault.
Contact a Qualified Alexandria Teen Accident Attorney
Dealing with insurance claims after an accident can be taxing and frustrating — especially when your teen driver is involved. Let an Alexandria teen accident attorney assist you. Contact the Jones Law Firm today.