It’s no secret that insurance rates for teens are jaw-dropping. In fact, it can be 100% more expensive than for adults over age 25. The reason? It has to do with the insurance companies taking on risk. Inexperienced teenagers are more likely to have accidents. Consequently, they have to pay to play.
Fortunately, there are ways to save on teen car insurance. You just have to know where to look.
When looking for insurance rates for teens, don’t go with the first quote you find. Look at plans from multiple insurance agencies near you as well as carriers. It doesn’t matter if you’ve been with them for years. You still might find a better deal elsewhere. Adding a teen driver is the perfect time to compare. Look at the coverage and deductible amounts versus the price. The track record of the company is important too. You need to know they’ve been dependable.
Two are better than one
In the case of auto insurance, groups are best. If you can avoid it, do not get a separate policy for teen car insurance. Especially not for a driver under 18. Rules vary by state, but in most cases, a new, teen driver won’t get any breaks. You’ll come out cheaper adding them to your policy. Even if you’re teaching responsibility, they can pay you instead and save you both some money.
Bundle it up to find the savings
It’s highly unlikely that auto is your only form of insurance. These days even pets have insurance policies. Now’s the time consider moving homeowners and auto insurance into one place. If there are other insurance products you can group together, it’s worth pricing. That’s one more thing to check on while comparison shopping.
Find cheap car insurance for students with discounts
Take advantage of special programs to insure teen drivers. Many of them are for students. The good student discount knocks off percentages for at least a B average. Driver’s ed may even help you catch a break on auto insurance for your teen. Also, consider keeping the car home during college. It reduces the risk of accidents and cuts your premiums.
Discounts focusing on accident prevention
One reason insurance rates for teen are high is accidents. But what about the teens who have driven safely and responsibly? Many companies are rewarding them for no or low accidents. With the safe driver discount, teens receive a tracking device. Factors like speed and brake usage could reduce premiums for safe teen drivers. Insurance companies also having savings programs like accident forgiveness and accident prevention courses.
There’s no getting around paying a hefty price for teen car insurance. They simply must prove themselves through experience and a good record. That still doesn’t mean having your pockets drained dry. Just do a little work and have a lot of patience. Search for deals and discounts, and comparison shop to save on auto insurance for teens.
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