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EnCompass®
The AAA Companion |
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September | October 2004
Volume 78 Issue 5
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Insurance & Financial Services
Safety and insurance —
preparing your teen to drive
Preparing a teen to drive is a step that most parents eventually face, and one that can cause a great deal of anxiety and concern. Crash statistics are frightening. In 2002, more than 1.6 million teenagers were involved in vehicular crashes and nearly 6,000 died. Vehicle crashes
are the number one killer
of teens.
What can parents do to help keep their teen drivers safe? And when should a teen driver be insured under an auto policy?
Safety starts with practice and proper training, and it is essential for parents to take an active role. Once your teen has a learner's permit, you should help her or him get as much driving experience as possible, starting simple and gradually working up to more challenging conditions, such as driving in rain or fog. There also are drivers' education programs available that are geared especially to teens.
In addition, AAA publishes a wide variety of books and other tools for in-classroom and at-home learning. Call 303-753-8800, ext. 2323 or visit www.aaa.
com/teens
for more information. AAA also recently partnered with GM and other organizations to develop Road Ready Teens, an online program that offers tips and tools to help young drivers gain experience behind the wheel. Parents and teens can visit the program website at www.roadready
teens.com.
The type of car your child will drive is important to his or her safety. Many experts agree that mid-sized sedans are the best choice for teens. Small cars usually offer the least amount of crash protection, and sporty cars may encourage speeding or recklessness. While it may seem that SUVs are safer, they probably are not a good choice for teens because they are more prone to roll-over accidents. An inexperienced driver might overcorrect steering or try to maneuver too fast, causing an SUV to flip over.
Like many parents, you may wonder when to add your teen driver to your auto insurance policy. You should inform your insurance agent as soon as your teen gets a learner's permit. Discounts may be available if your daughter or son completes a formal driver training program or has good grades.
As with many other major events in a teen's life, parental guidance, supervision and education will go a long way toward helping your teen prepare for the responsibility of safe driving.
Insurance &
Financial Services
AAA Colorado has an independent insurance agency that offers products from several highly rated national insurers, including Safeco, Travelers, Progressive, Hartford, Allied, AAA Life, John Hancock and others.
Additionally, now available is the exclusive "AAA Insurance" — a brand of insurance available exclusively from AAA. Coverage available through AAA Colorado includes auto, home, life, umbrella, and long-term care.
For information about insurance products, call AAA Colorado toll-free at 866-399-9836, visit
our online page.
AAA Colorado also offers various financial services that include the "AAA Visa" card, certificates of deposit (CDs) and money market deposits.
For information about AAA deposit products, call 800-526-7120. For information about the "AAA Visa" card, call 303-753-8800, or visit our online page obtain an application at any AAA Colorado office.
Is your homeowners
insurance protecting your
largest financial investment?
Home is where the heart is, but it's also the largest financial investment most people will ever make. It's important to protect your home investment financially through a comprehensive homeowners insurance policy.
A standard homeowners insurance policy covers four items in varying degrees:
1. The physical structure of your home.
2. Personal belongings. 3. Liability for property damage or bodily injury that you or another family member may cause to other people.
4. Additional living expenses you incur in the event your home becomes temporarily uninhabitable due to a covered loss.
Additionally, there are three levels of homeowners insurance-Basic Coverage, Broad Coverage, and Special Coverage. These refer to
the types of perils covered, not to the dollar amount
of the insurance benefit.
Understanding your
policy-its coverage, limits and exclusions-is part of good financial planning.
Ask a AAA insurance
representative to help you plan for the coverages
you need.
Time for an
insurance check-up?
Whether you're married or single, young or old, whether you rent your home or own it, an insurance check-up should be an important part of your overall financial planning.
Your auto and homeowners insurance are critical and need to be reviewed periodically to make certain you have the proper protection in place. A teen who has started to drive, the purchase of that special piece of jewelry, and a home remodeling project are some of the changes in your life that may create a need to revise your insurance.
Other insurance coverages to consider and/or review include: life insurance, long-term care insurance, and umbrella liability insurance (an often overlooked coverage that protects your assets in the event you are sued over an accident or other damage you cause, or are accused of causing).
An insurance check-up may be just what the doctor ordered. Contact your AAA insurance agent for help in planning the coverages you need.
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