Tips for Insuring Your Teen Driver

We’ve already gone over the basics of insuring your teen driver, but now its time to talk about the best ways to cut down the costs of your teen driver. Adding a teen driver to your insurance account is going to double your premium. There is not much way of avoiding having to add your teen driver to your policy, but you can do your best to save as much money as possible.

Money Saving Tips
Auto insurance companies often have certain stipulations that, if your teenager meets, can save you money. On average male teenagers will cost you more than a female. In order to avoid such high premiums here are some tips:

Comparison Shopping- Don’t always settle on the insurance company you have in order to insure your teen driver. There is no law stating you and your teenager have to be with the same insurance company. If your current company offers you a discount for adding a family member then perhaps you should look into this offer. Just remember, comparison shopping is always a good decision.
Higher Deductible- The higher your deductible the lower your premium. It may be a bit of a gamble, but if you choose a $1,000 deductible your premium could be manageable.
Conservative Cars- Certain cars, like sedans, offer much better insurance rates than other cars. Buying your teenager a sports car will only add to your insurance nightmare, but buying them a Toyota Camry will soften your insurance blow.
Study, Study!- If your child maintains good grades, usually over a 3.0 GPA, you can get your premium discounted by up to 15% in most cases.
Driver’s Ed- If your teenager graduates from a driver’s education class you will most likely see a break on your premium. It is also a much quicker way to go about getting one’s drivers license.
Out of Towner- If your college student goes to an out of state college, or some scenario in which you know they won’t be driving a car, you can take them off your policy and save a whole bunch of money.
Be a Good Parent
You are going to have to live with the high rates of teenage driving, because there is no way to avoid it. You could prevent your child from driving, but that seems like an unrealistic solution. Your best bet is to work with your child and make them a better driver so you can save money in the long run. Make sure your child limits the amount of passengers they drive around, avoids driving at night and make sure they are not texting or talking on their cell phone while driving

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