How To Keep Insurance Premiums Low For A Teen Driver
You may be looking forward to the day that your teenager can finally drive, because you'll be done with the days of needing to shuttle them back and forth between different activities. You definitely are not looking forward to the increase in insurance costs though. Thankfully, there are some ways to keep those premiums low, even with a teenage driver in your home.
Add Them To Your Existing Policy
Insurance will always be cheaper when adding them onto your current auto insurance policy, rather than having them get a policy on their own. You see benefits with discounts by adding multiple cars, which can result in savings for everyone that has insurance.
Show Proof of Good Grades
Getting good grades in school shows that your teen is responsible. Chances are that it can translate to how they drive, so the insurance provider is likely to give you a discount. Contact your insurance agent to find out how they want you to submit proof of what their grades are.
Agree To Use A Vehicle Tracking Device
Many insurance companies offer safe driving discounts, which is done through a device that is installed in the car. It tracks how much they drive, how fast they accelerate, and how hard they brake. While this type of device won't cause your premiums to increase, it can cause them to decrease if your teen has good driving behavior. Just making them aware that the device is installed can be a deterrent too, since they know their driving is being monitored.
Increase The Deductible
The less you need to pay when making a claim, the more your insurance premiums will cost you. An easy way to lower insurance costs is to simply increase the deductible that you have. As long as you have the additional cash on hand to pay for the deducible, it could end up saving you a lot of money if they never get into an auto accident.
Buy A Safe Vehicle
There are many aspects of the car that insurance providers look at when determining insurance premiums. Cars with great safety ratings and features like dual airbags are going to be safer than those cars without it. A serious injury will be less likely to happen in an accident, and you could see lower premiums because of it. While the older car they are driving may be cheap, it may be costing you in higher premiums.
For more tips to save money on your teen driver's insurance, speak with an agent through a place like Insure With U.S.
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