Are you getting ready to add a teenager to your auto insurance policy? Many parents worry about the potential cost of adding a teen to their car insurance policy, but there are a few steps you can take to help reduce your expenses and make your policy more affordable.
Look Into Discounts
There are many discounts that you and your teen may be eligible to receive, such as the good student discount. If your teen is a full time student and maintains a B average, many insurance companies will extend a discount of up to 15%. If your teen completes a driver training program, he or she may be eligible for additional insurance discounts.
Get the Right Type of Car
Just as the type of car you purchase has an impact on your rates, the same is true for your teen. A teen who drives a high-performance car can expect to pay a higher insurance premium, so look for a more conventional vehicle without a lot of extra bells and whistles for your teen driver.
Make Some Policy Changes
Making a few modifications to your insurance policy can help to severely cut back on the premium costs. Consider increasing your deductible or dropping some of your coverage in order to save on your premium. If your teen is driving an older car, for example, carrying collision and comprehensive coverage may not be necessary.
Preach Safety
When all is said and done, the easiest and most effective way for your teen to help keep insurance costs down is to be a safe driver. Getting into just one fender-bender can be enough to increase the rates and to negate any special discounts you may have received. So, be certain to give your teen plenty of practice behind the wheel with you at his or her side and then gradually allow your teen to take on more solo driving time. This way, your teen will be more likely to be a safe driver.
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