As a parent, you’re probably excited to see your teenager driving for the first time on their own and practicing their independence. You’re probably also concerned about the added expenses of adding a teenager to your insurance policy. Not to mention car payments and hefty gas bills!
There are several factors that go into determining your car insurance rate but doing these three key things can help you to save on adding a teen onto your policy.
Look into Student Discounts
If your teenager is receiving good grades with a minimum of a B average, then you could receive a discount on your car insurance policy.
Gather proof of their good grades and contact your insurance agent to discuss your discount options. Proof could be a report card or a form signed by the school verifying the grades.
It’s also useful to know there are often student discounts available for homeschooled teens and for drivers in college up to the age of 24.
Buy Used, Not New
It’s more than likely that your teenager will be eager to get a new car once they start driving, but it isn’t always the best choice. Teens cost more to insure because they are inexperienced drivers, so a car with a higher cost is going to cost more to repair.
Older cars are better for teens that are just starting out driving as repair costs will be a lot lower. This makes your policy lower to insure.
Consider Telematics
Telematics are electronics that can be used in many ways as they record information on a driver’s habits. This is certainly something to take into consideration when allowing your teen to drive, as good drivers are rewarded and poor drivers receive feedback for improvement.
Some companies will give drivers an automatic discount on teen’s insurance just for signing up! Be sure to explore your options and see what discounts could apply to you.
Making sure that you have the right auto insurance in place is essential to saving you money in the long run! Contact us today to explore your options and get a policy in place that’s right for you.
