It’s a fact that is hard to dispute – teenagers face higher car insurance rates than the rest of the population. This is based on the teenagers’ lack of driving experience (which translates to lack of driving skills) and because their demographic has proven to be quite accident prone. When a teen is added under their parent’s policy, the family can see the cost of their car insurance premiums rise dramatically.
These are trying economic times. Family finances are tight, which makes forking over even more in car insurance to be very difficult. Yet, teens today need to drive – there are after school sports practices, jobs, study sessions, and not to mention all the social obligations (which strangely teens don’t view as optional). How can a family still balance the checkbook while making the newly minted driver in the house happy? Here a few tips:
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Good Student Discounts
If your teen does well in school, you will see savings on your car insurance premium. And we are talking serious savings, up to 20% depending on the insurer. Your teen must maintain a B average in order to qualify for the discount.
Make Sure They Are Driving A Safe Automobile
What exactly is a safe automobile? Well, according to the auto insurance companies, it is car that hasn’t been shown to be involved in a lot of accidents. Statistically, some cars have proven to be safer than others . The opposite of a safe car would be high-octane sports car. Sports cars are more likely to be in accidents, and thus cost more to insure. Want to save on teen car insurance? Have them drive the safe, reliable, boring vehicle. If they want that flashy sports car, they can’t wait until they are under their own policy and make all the decisions.
Driver Education Courses
Car insurance companies offer discounts for teens upon the successful completion of driver education courses. Teens who have earned a degree from driver’s ed course have shown to be safer, more responsible drivers. Apparently, the lessons instilled in these teens affects their driving behavior. This is good news for all of us, especially car insurance companies who are looking for ways to reduce claims. Therefore, they reward those who have completed driver’s education with special discounts, up to 20% off the premium.
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Make The Teen Pay For Their Own Insurance
Some households already implement this tactic, often out of necessity rather than choice. Even if your family can afford to insure your teen driver without making them pay out of their own pocket, this is something you should consider. When the teen has to bear the expense for their own auto insurance, they may think twice about committing acts that will cost them money. That lead foot might lighten a bit and they will concentrate more on the road. Less mistakes, less traffic violations all equal bigger insurance savings. Plus this will have effect of installing lifelong good driving habits in teens, not to mention teaching the value of the dollar.
Get An Online Quote
Find the cheapest insurance rates for you teen by getting an online quote. When the auto insurance companies have to fight for your business, you win. Find the cheapest insurance rate for your teen here, at Cheap Quotes Car Insurance.