If you are anything like me you have also been dreading the moment your teen gets in their own car. Because you weren’t sure how much more this was gonna cost you to add another driver to your insurance policy. As a parent, keep in mind when adding a teenager to your car insurance policy this can cause your premiums jump 50 percent or possibly double.
The reason for this is, because teen driver accidents are very high. Car accidents are the leading cause of death. Data has shown that our teen drivers from the age group of 16-19, are the greatest proportion of distracted drivers. Teens are more likely to take unnecessary risks while driving than mature experienced drivers. Therefor insurance companies charge more for our teens than any other group of drivers, however there are discounts and other measures that can help lower the costs for teen drivers.
Use the following tips to help lower the cost of car insurance for teens:
- Take Advantage of The Good Student. Discounts vary by state, but some can be as high as 20%, however the average discount you will get is 10% off. It really just depends on the state you live in. If your child has is a full time student and holds B average or even better you should qualify for “good student discount”. Also be sure and ask your insurance agent about other discounts they may have. You would be surprised what you find that you didn’t know about. Some companies even offer discounts for taking an online driver safety program. Plus some may even offer another discount for signing a safe driver contract with your teen.
- Others Discounts. Some discounts will be automatic. Such as raising your deductible or buying a car with an anti-theft device.
- Be Sure and Tell Your Car Insurance Agency When Your Teens are off at College or Away. Let them know how long they will be gone, and ask about the “distant driver” discount to see if you qualify.
- Multi-Policy Discounts. It’s always easier to have things all in one bill. Look into combining home, auto, and life insurance from just one company. This saves a lot of time when paying bills, but you could also save as much as 25% on your policy by bundling policies.
- Purchase a Safer and More Reliable Car. Think about getting a car that’s more practical, and equipped with all of the safety features, such as rear view cameras, anti-lock brake system (ABS), and anti-theft devices. Many high end cars tend to cost more for insurance. Looking into getting a new car head on over to Grogan’s Towne Chrysler Dodge and check out the 2018 Ford Focus SE Sedan. This car is listed at a great price!
- Opt for higher deductibles. Choosing to have a higher comprehensive, and collision deductibles will raise your out-of-pocket expenses, however this could save you hundreds of dollars by drastically reducing your overall premium.
- Get a Pre-Owned Car. This may be one discount you have already heard of, but if not this could save you money. Instead of running out, and buying your teen that bright fancy new car. Think about getting a great pre-owner vehicle. Insurance rates for used cars are usually always cheaper than a new car.
- Sign up for Accident Forgiveness. If possible sign up for accident forgiveness if available from your insurance. As you already know even that most experience safe drivers could get into a car crash.
Follow these simple steps, and you could save some money once your teen driver get’s out on the open road.
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