Below are 10 tips that can help you save money when you need to add your teenage driver to your insurance policy:
1. Compare Policies
Getting quotes from several different car insurance providers to see who had the best premiums and deals for your driving record and your teen’s newness is highly important and can save you money in the long run.
2. Ask About Multi-Policy Discounts
There is a chance that insurance companies will give you a discount when you are bundling different policies with them. While you're shopping around, ask your agent for details regarding multi-policy discounts to save some money.
3. Safety Courses and Good Grades
There are two main perks for teen drivers that are often overlooked: safety courses and good grades. Many insurance companies will offer discounts for teenage drivers who have taken and passed specific safety courses. Teens that make good grades (B average) usually can receive a student discount on insurance, this is due to the likelihood of “good grade” students getting involved in less accidents.
4. Purchase a “Low Target” Car
Some types of cars are stolen more than others, when looking for a car for your teen you need to remember that these aren’t always the fanciest cars on the lot. These are the ones that are targeted by thieves because of the parts being so valuable.
5. Buy an Older Car
Not only are older/used cars cost less to purchase, they also tend to carry cheaper insurance rates. Instead of buying your teen a brand new car right away, get an older/used car until they become more financially responsible and safer drivers.
6. Get a Safe Car
Like older cars, a safer car will get you a lower insurance rate. Look for different vehicles that have a high crash test rating or top line safety equipment.
7. Put Your Teenager on Your Policy
When you are searching around for different policies, check with your current insurance company first to see how much it would cost to simply add your teen to your adult policy instead of getting their own.
8. Increase the Insurance Deductibles
If you are wanting to reduce your premium cost, you can always manipulate your deductible any way you see fit. Usually raising your deductible will do the trick.
9. Educate Your Teen
Most people know and understand that the more accidents you have, the higher your insurance rates will go. However, making sure that you have these talks with your teens is important in making them safer drivers. Teaching your teenager that maintaining a good driving record correlates with low insurance rates is important in helping them stay mindful and teaches them to prepare for this responsibility in the future when they have to pay for their own car insurance.
10. College Discounts
If your teenager is going to or planning on going to college that is more than 100 miles away from home, they may be eligible for a college discount if they don’t have a car of their own on campus. Talk to your insurance company about the details to find out if or how you can qualify for this particular discount.
To have your questions answered about adding your teen to your car insurance, contact a Trout Insurance agent today!
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