By Jamey Toney, CFP®, ChFC® Country Financial

As the end of summer approaches and back-to-school-fever infects your teenager, take a few minutes to discuss the importance of good grades and safe driving.

These two activities can greatly reduce the auto insurance premium for your child.  Defensive driving courses, coupled with driver’s education by parents, can help teach your child how to operate a motor vehicle responsibly AND help your wallet.  Although many other factors play into the cost of insurance for your child, these actions are proven ways to keep your premium down and create an incentive for your child.  

Good Grades

Even though every parent wants the child to perform well in school to help boost morale and help with getting into college, good grades can greatly reduce your auto insurance costs.  To meet the qualifications the driver must

- be a full time student in high school or college OR 

- be a full time vocational-technical school student AND

- rank in the upper 20% of his/her class scholastically OR

- maintain a “B” average or its equivalents, OR

- maintain a grade point average of at least 3.0 on a 4.0 scale OR

- be included in a Dean’s List or Honor Roll

These qualifications can reduce your premium by up to 10% per child that qualifies.  With youthful drivers’ premiums already high, these cost-cutters translate into big-time savings every time you renew your policy.      

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Drivers Education

Back in the old days, we all had drivers education as a class during the school day.  Currently, this class is an after school event and, in my opinion, should be mandatory. Enrolling your child in a driver’s education course or a defensive driver course can help in more ways than one.  First, the class helps your child learn the responsibility associated with being behind the wheel. Secondly, the class helps reduce your premium payment because these drivers are less of a risk to the insurance company. Statistics confirm this relationship so insurance companies reward these drivers.  Discounts can reach up to 8-10% per driver.  

At this level of savings, don’t you think you should spend time with your teenager(s) before they go back to school? Take time to discuss the benefits of being a good student and a good driver. You’ll save money and help make your young driver a better motorist.  

Discount will vary depending on driver’s record and MVR report. Please contact your insurance agent to see if your child qualifies for any of these discounts.  

Jamey Toney, CFP®, ChFC® is an exclusive multi-line agent with COUNTRY Financial. He holds a Chartered Financial Consultant designation and is a CERTIFIED FINANCIAL PLANNER. For more information call 770-985-9757.