Reader’s Question:

My son wants a car for his high school graduation. What kind of car should I buy him if I have a limited budget? What is the best way to get a cheap car insurance quote that is not too thin when it comes to coverage? Can I get some advice on how to go about insuring him?

Edmund

New Orleans, LA

Most car insurance companies suggest efficient cars for teenagers because they have high chances of getting into an accident or a moving violation. Statistics show that teenagers get involved in fatal and non-fatal accidents more than those in any other age group. This is specifically true for male teenagers because aside from the fact that they drive more than female teenagers do, they also have a greater liking for taking risks.

With the tight budget that you have, I suggest you go for relatively older model cars (a used car that is not that old is your best bet). Look for the one with the best safety features, is reliable (in terms of engine condition), and has the best price. Try looking for a good condition minivan or a big four-door car. Statistics show that these cars register the lowest death rates. And if you can, try to stay away from SUVs because they are prone to rolling over especially when the driver overcorrects his steering. Small cars like Ford Focus or Honda Civic are also not advisable although they are they most preferred. Small cars have the highest death rates because they are light and are often used for racing.

If you have an existing car insurance policy and your son is covered by it, it would be best if you keep it that way and just register your son’s car under your name. Getting an insurance policy for a teenager can be really expensive and impractical especially if he’s still living with you.

If you are about to renew your policy, try to look for a new insurance company that could offer you the best rate. Companies change their rates regularly, so it would be best if you also observe their rates regularly. Try also checking the internet for a cheap car insurance quote and advice. Or if you want to have a more personal advice, you can also contact a car insurance agent in your area.