Car Insurance Tips For Parents Of New Teen Drivers
When your teenager becomes the recipient of a driver's license, it is an exciting time for both your child and yourself. Along with this excitement comes the need to do some shopping around for car insurance so they can legally get behind the wheel to drive on their own. When it comes to car insurance for a new teen driver, many fear prices will be astronomical since their child is not yet experienced in driving extensively. To help keep car insurance cost for your teen at a minimum, consider some of the following tips.
Encourage Excellent Marks In School
Many insurance companies offer an incentive for teen drivers who excel in their studies. Find out beforehand what grades are required to get a discount rate on insurance and encourage your child to maintain the averages needed to obtain them. If you find your teen's grades are slipping, your insurance rates may go up. In turn, you can inform your teen they will no longer have driving privileges until they are able to boost their grade point average. This will help keep your child on track with their schoolwork as well as keep your rate at the lowest possible.
Promote Great Safety Habits
Ask your insurance company if they have a discount program available for those who drive safely. Some insurance companies offer discounts to teens who have a computerized monitoring device installed in their vehicle to track their driving habits. This information will be assessed by the insurance company at regularly scheduled intervals to determine driving speeds and response times the teen used when on the open road.
Research cell phone applications that can be installed on your teen's phone to keep them from texting while driving. Purchase a vehicle with a high safety rating to obtain discounts on insurance as well. Added features like anti-lock braking systems or alarm systems will help keep your insurance cost lower. Enrolling your child into a safe driver's program can also reduce the amount you pay for their insurance.
Price Compare Beforehand
Before committing an insurance policy for your teen, shop around to find out the going rates between different companies. You may find adding your teen onto your own policy will be cheaper than getting them their own insurance policy. Ask your insurance company if they offer discounts for bundled packages. If you pay for homeowner's insurance or life insurance, you may get a discount for auto insurance by purchasing it through the same company. There are, however, instances outside the norm, making it cost-effective to shop around beforehand. You may happen to be shopping at the right time to jump in on a promotion with another company.
For more information, contact a local insurance company like Allstar Insurance.
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