Safeco Corp., Nationwide Mutual Insurance Co., American Family Mutual Insurance Co. SE and Allianz unit Fireman's Fund Insurance Co. are among those launching new discounts for young drivers and their parents - often with new requirements aimed at reducing the risks. Some require drivers to take a safety course online or keep a journal of their conduct. Others are related to the use of surveillance techniques that allows parents to keep an eye on young drivers at the wheel.
The moves come amid increased competition among auto insurers that rates fall or maintained for customers in all areas. Programs that are mainly appeal to parents, because they absorb the shock of adding a young driver on a family policy, which can increase premiums by 50% to 100%. Insurers also hope that the sale of automobiles policies for young drivers will feed future customers.
In addition, many states in recent years have imposed restrictions on drivers adolescents, as not allowing them to drive at night or for transporting cars of friends. All this had the effect of making the group a little less risky to ensure that in the past.
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