Every teenager feels that the mark of their freedom is when they hit the roads, driving alone on their wheels. But with this feel, Teen Driving becomes a major thing in any parent’s life. If the teen has a passion for sports cars, then their worries go boundless with the fear of teen safety and high insurance premium rates.
Factors That Raise Insurance Rates
Car insurance companies are in the business of making money. They consider many factors before quoting teen insurance rates. Claims -data shows that sports cars have increased risk of accidents and the damage costs much higher. The biggest car crime category is sports cars!, with high theft prone, comes an increased premium! Also, the insurance companies raise the rates for the drivers below 25 years as the statistics prove the major car crashes happen due to teen drivers. Teens do not have stable credit score and this affects their insurance premium rates. so summer jobs is only the option that brings relief of financial burden on parents.
Teens are never concerned about the statistics of teenage driving – the traffic violations and heavy fines. Financial losses, being legally sued and property damage liabilities. The only way you take the responsibility of teen is to make them earn for their own fuel and insurance premium rates.
Summer Earnings – A Good Deal
Many teens believe that cars are for joy rides, a status symbol and not just a means of transportation. They want to make news by owning a stylish brand new car of high power and speed. Few teens also find it appropriate to do summer jobs and manage their own expenditures of gas and insurance.
Summer jobs does help a teenager in exploring himself, develop team work, make a choice over career, implement money management skills and other responsibilities. With driver training classes, positive attitude on roads, and gaining knowledge about teen driving laws, any teenager can easily combat the high Teen insurance rates.