How To Save On Your Teen’s Auto Insurance
It will never be cheap to insure a teen driver. The probability they will get into an accident is too high for insurance companies to take a chance on offering low rates normally. There are several ways that you can save a few bucks, and you can find out what they are if you keep reading.
Enroll your teen in a driving safety class. This is a great way to guarantee a lower rate. When your child passes the course, it will show the insurance company that they intend to be just as safe once they get on the road. Many high schools offer driving classes that do not cost anything. If that is not an available option, you will have to do your research and find one in the area.
Whether you have ever heard of it or not, you should know that many insurance companies offer lower rates to students that get good grades in school. This applies to students that are in high school and college, so your teen should be eligible for the discount either way. It is not all about getting good grades once. The insurance company will want to do periodic checks to make sure they are maintaining a good GPA.
If you give in and buy your teen that sports car they have always wanted, that will guarantee that the insurance quote you are given will be astronomical. Rates for these type of cars are high for everyone, but even higher when the person covered is a teen. Let them know that they have to agree to get a modest car if they want to get one at all. Aim for an older model that is considered very dependable and safe.
Make sure that the amount your teen is driving is not too much more than the estimated mileage you gave the insurance company. If you tell them your teen drives no more than 50 miles a week and they are driving that amount daily, you will definitely see a change in your insurance rates. Instead of consistently paying the larger amount, let your teen know that they need to respect their limits or you will take their car away.
Sometimes you can add auto insurance as part of a package with your home or life insurance. Check with your carrier to see what the rates would be to add your teen. If it is significantly cheaper you should add them. If the difference is only a few dollars, it may not be worth the additional hassle.
Not all auto insurance companies are created equal. That is why you must ask around to see what discounts and deals are available to help you save when buying insurance for your teen. The advice here is just a sample of the discounts that may be available. Ask about these and see if there are more. Other than that, the only thing you can do is talk to your teen and stress the importance of safe driving.