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5 Ways to Save on Teen Insurance

Five Ways to Save on Teen Insurance

by Mollie Jones

If you have a teen driver in the family, you know teen insurance rates may be higher than for experienced drivers. However, there are ways to control teen auto insurance costs. Consider these five tips to start saving today.

1. Make sure your teen is driving the right car
The type of vehicle your teen drives can affect teen auto insurance premiums. For example, a brand new car may be more expensive to insure than a used one; its replacement cost is higher than most older vehicles and may be more prone to theft. However, older cars may be lacking several important safety features, such as side airbags, to keep your teen safe on the road – and earn them a safety discount on their policy.

2. Practice smart driving habits
An accident-free driving record can help keep your teen’s insurance rates reasonable. Help your child drive smarter by creating a teen driving contract. In the contract, outline specific driving responsibilities, privileges and consequences, like curfews, number of passengers, and when they are responsible for filling up the car with gas.

3. Raise deductibles
You may want to consider higher deductibles in exchange for lower teen auto insurance rates. Keep in mind that while your teen may pay a lower premium, they will have to pay more out-of-pocket if they’re in an accident.

4. Look for discounts
Does your teen earn good grades in school? If so, he or she may be eligible for a good student discount. Other potential savings include a multi-car discount, a discount for a certain number of years without an accident, and a discount for completing a driving safety course. Talk to you agent about which discounts your teen is eligible for.

5. Compare auto insurance quotes
Shop around for teen auto insurance. Compare quotes from different car insurance companies to see which offers the best rates for the coverage you need.

 If you missed any of these tips when buying teen auto insurance, you may be paying too much for a policy. Remember to look for a trusted insurance provider that offers multiple discounts to young drivers, such as a teen insurance discount for completing a driving safety course or maintaining good grades in school.