Young, inexperienced drivers’ car insurance isn’t cheap, and with good reason. According to Webb Insurance, teen drivers between the ages of 16 and 19 are more likely than any other age group to be involved in accidents. Learning how to save money on adolescent auto insurance is essential for parents whose children are swiftly reaching the age of driving.
Following are some ways parents can save on teenage car insurance:
Discounts on Driver Education
Because minors lack driving experience, several insurance firms provide discounts to kids who finish a driver education program. Whether you enroll your new driver in a high school driver’s education program or one given by your state, making sure they know what to do when they go out on the road will help you save money on auto insurance.
Don’t Make a Purchase Based on Price Alone
We all like to save money, but you can’t put a premium on your child’s safety—or, for that matter, your own sanity. The National Safety Council estimates that half of all teenagers will be involved in an automobile accident before graduating from high school. As a result, your adolescent may be involved in a fender collision at some time. If that happens, you’ll want to be prepared with the appropriate insurance. To safeguard your kid, you’ll need the correct quantity of liability insurance and additional coverages. Furthermore, you’ll want an advocate on your side during the claims procedure.
Encourage your child to get (and keep!) good grades.
For parents of high school and college kids, this is a no-brainer. Get to work on your novels! Some insurance companies provide a discount for high grades, which can range from 5% to 25%. That may mean a savings of up to $600 on a $2,400 coverage. To be eligible for a “Good Grade” discount, the driver must normally maintain a “B” average while enrolled as a full-time student. This discount is not available from all insurers. Those that do so because they believe that teens with high grades are better and safer drivers.
One of the simplest methods to keep your vehicle insurance premiums low is to have a clean driving record. Every driver in your family should think about how their actions affect not just their safety but also the cost of insurance in the future. Avoid speeding penalties, driving while inebriated or under the influence of drugs or alcohol, and collisions. Even a little “fender bender” can have a significant influence on your insurance costs.
Your adolescent regards you as a role model. Remember to teach them safe driving habits throughout their life, not only when they are about to get their driver’s license. Don’t text and drive, by the way!
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