Prepare for the anxiety attacks. Your little baby is turning 16 and before long they’ll have their drivers license. It’s a ritual that every parent before you (including your own) has went through. You worry about their safety, as well as potentially higher auto insurance premiums.
It is statistically proven that teenagers are far more likely to be involved in a collision than any other driver on the road. This makes teen driver insurance premiums the highest, which is why you need to search for cheap car insurance quotes. Start now with the helpful strategies listed in this article. To keep cost down to a minimum, you and your teen should do the following:
- First and foremost, you should add your teen driver to your policy. It may sound ludicrous to do so, since he or she is statistically likely to bump up your insurance rate. However, it’s often cheaper than buying a separate policy, as they will benefit from the discounts that you are likely already enjoying.
- Practice safe driving. This applies to both you and your teen. Your teen may be inexperienced behind the wheel, but keep in mind, too that you are his or her ultimate role model. Therefore, you should be a living example to how to drive appropriately on the road. The two of you doing this together will help keep your teen driver insurance bill down even further.
- Maintain good grades. Your teen may be going through high school, and you want the best from him or her, and your auto insurance company does, too. Ask whether or not if they have a “good student” discount. It will lower your premium by encourage your student to maintain good grades.
- Buy an older and/or used car. Older vehicles are less expensive, which is ideal for your teen to drive. If you have an expensive vehicle, it should be driven by you, the experienced driver, since these actions may reduce premium costs.
- Have your teen take driver’s education. This course will help teens drive better on the road, and some auto insurance companies will give you and your teen a discount, if he or she passes.
- Raise the deductible on your policy. Your deductible (out-of-pocket expenses for your claim, before your insurer pays the rest) can be raised to lower your teen driver insurance premium.
- Notify your agent when your teen goes to college. When your teen goes to college, most likely – unless they commute from home – they can be classified as a “Student away” on your auto insurance plan.
These strategies will help reduce costs associated with teen driving. Be sure to also ask your insurance agent about teen driver discounts or other cost-reducing strategies.
