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5 Tips for Car Insurance for Teen Drivers

5 Tips for Car Insurance for Teen Drivers

Reduce the cost of insuring teen drivers by implementing five handy tips. Teen drivers don’t have to cost you a fortune.

Many parents fear car insurance for teen drivers will cost a fortune. However, there are methods for car insurance premium reductions. Auto insurance helps to pay for damages, should there be an accident. Lower your premiums by comparison shopping, adding the teen to your policy, purchasing a standard vehicle, and requiring the teen to take a driver’s education.

Comparison Shopping for Car Insurance for Teen Drivers

One of the best tools at your disposal is the Internet. Visit various insurance company websites. Take notes. Call potential insurers and ask for an estimated rate quote by phone. Keep a list of the prices given to you for later comparison. Examine the list frequently when selecting the best company to do business with.

Add Teen Drivers to Your Policy

Often, you can reduce the cost of insurance by adding your adolescent to your current policy. Some businesses give significant discounts. They realize that young drivers usually stay with the same insurance company after becoming adults. The corporations view new, young drivers as potential lifetime customers. Thus, frequently, the same business that insures your cars will provide a substantial discount for car insurance for teens in your family.

Purchase a Standard Vehicle

Select a vehicle that is reliable and in good condition for your family member to drive. Avoid higher-valued autos to reduce the cost of insurance further. In the event of an accident, the car insurance company helps to pay for damages. The higher-valued the automobile is, the more money the insurance company risks having to payout. This risk is passed onto the clients by you having to pay higher premiums and deductibles.

Increase Insurance for Teen Drivers Deductibles

If you feel confident that your teen is a good driver, select the option of paying a higher deductible when discussing policies. For example, instead of choosing a deductible that is $500, opt for the $1,000 or even $2,000 deductible. However, realize that if the teen driver gets into an accident, you will have to pay the deductible amount before the insurance coverage taking on the repair costs.

Require Teen to Take Driver’s Education

Not only does the driver’s education help young drivers master their driving skills, but it can also save you money for this type of expenditure. Many high schools offer driver’s education. If this is not an option, look for a driving course in your community. Typically, there is a small registration fee for the classes. New drivers learn about road safety, defensive driving and following the rules of the road.

Letting your adolescent drive does not mean you have to pay a fortune for car insurance for teens. Take the time to compare rates between companies or consider adding the new driver to your existing policy. If your budget allows for it, select a higher deductible to further lower costs. Regardless of insurance rates, always require new drivers to take a driver’s education course to learn how to be safe on the road and help with lowering the costs of car insurance for teens.


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