Purchasing auto insurance for teenagers can be expensive. The following tips can help lower insurance premiums. Below are the 5 tips for buying affordable car insurance for teenagers which every parents & teenagers would love it.
Get Good Student Discounts
Some insurance companies offer discounts to students for their academic performance. Insurance companies often give full time students additional discounts because statistics show they are better drivers, i.e. a lower risk.
Good Student Discounts vary from company to company. However, most companies allow one to qualify for the good student discount if one is a full-time student, between the ages of 16-25 years, and maintain at least a B average.
Enroll your teen in driver education
If your state does not require it, taking an education or driver safety course can earn you discounts through your car insurance company. After driver education you can enroll your teen in an additional driver training course to lower your premium. Most insurance companies offer discounts to those who take these courses.
Monitor your teen’s driving
It is a good idea to ride with your teenager a few times a month to observe their driving habits. Educate them about how a driving violation can be costly and may even prevent them from getting their permanent license. Make sure to emphasize the dangers of distracted driving, especially texting and driving.
Buy a sensible car
Expensive and sporty cars will most likely have a higher insurance premium. Try buying a used car first before purchasing a new car. Also, the car you buy for your teenager should have high safety rating or have additional safety features installed. Safety features and high safety ratings will lead to lower insurance rates.
Add your teen to your policy
Another way to lower the insurance cost is to add your teenager to your insurance policy. Research the price of how much it will cost to add your teenager to your policy vs the cost of a standalone policy. Generally, if you can bundle it with your insurance, it will be less expensive.
Misc. Ideas
- A good driving record will keep your rates low and affordable.
- Vehicle safety features will lower your premiums.
- Bundling your policies can save money, such as pairing them with homeowners insurance
- Ask your insurance agent about any other discounts that your teenager may be eligible for, you may be surprised at some discounts you qualify for!
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