Auto Insurance for Teens
Parents have enough to worry about when their teen starts driving – their child’s safety, whereabouts, and responsibility on the roads, just to name a few! One of the other worries is the financial cost that comes along with a new teen driver. However, there are ways that parents can save money on teen car insurance without needing to jump through a bunch of hoops and deal with miles of red tape.
Options for Teens Auto Insurance Policy
There are a few critical steps to take before you decide upon an insurance policy for your new driver.
- Shop around. You’ll never know what’s out there if you don’t take the time to compare companies against one another. Many, if not most, will supply you with a quote within minutes online – all you need to do is provide them with very basic information.
- Look for any discounts available. Most providers will ask in the quoting process whether certain things apply to the driver in question, and will be able to work out what discounts they are eligible for. Some of these may include:
- Good student discount
- Low mileage discount
- Driver safety education course discount
Once you have determined which policy you’re going with, and what discounts you can get, then it’s time to tweak things so that you can save every nickel you’ve earned.
Look Into the Fine Print
There are lots of hidden ways to save money on teen car insurance. You can raise your deductible, which will automatically lower the amount you’ll pay for coverage. Since your deductible is the amount that YOU will pay in the event of damages, the more you’re willing to pay, the less the insurance company has to…so your policy will cost less also. You can also choose to add your teen to your policy instead of getting them their own. You can sometimes even choose which car your child is assigned to – in which case, you’d want to pick the least costly vehicle and ensure that your teen only uses that one. Adding your child to your policy could also qualify you for a multi-driver or multi-car discount; conversely, some providers will offer multi-policy discounts for you to purchase separate insurance on your teen.
Watch Your Child’s Driving
The most important factor to an insurance policy is the responsibility of the driver. To expand your options for your teen’s auto insurance policy, insist upon safe driving decisions at all times when your teen is in the car. This might mean imposing stricter rules for their first year of driving until they have more experience – no friends or food in the car, earlier curfews, boundary limitations – but in the long run, it will mean they are less likely to become distracted on the road and cause an accident.
Save the Cool Ride for Later
Every teen wants to be seen in the most fashionable wheels of the moment… but they may not realize that you’ll be paying a much higher premium for that fancy ride! Getting a modest, sensible car will keep your costs in check, and also be far less money in the event of an accident. There’s plenty of time for your teen to save up for the car of their dreams; right now, make sure they’re driving the car that they need.