Five Tips for Saving on Car Insurance for Teens
It is no secret insuring a teen driver is expensive, but there are ways to cut costs and make it affordable to purchase the insurance protection an inexperienced driver needs. What are a few of the best ways to save on car insurance for teen drivers?
1. Choose the Right Car
Some of the best insurance savings begins before you even purchase your policy. By choosing a car that is considered safe and low-risk for an inexperienced driver, you are guaranteeing the best possible rates. Safer cars reduce the risk the insurance company takes on and your wallet benefits. Safer cars are usually those that are slower, sturdier, and considered low-risk in terms of theft. There are plenty of consumer lists that give you the top safe cars for teens, so if you aren’t sure check those out before your buy a vehicle.
Many states offer additional discounts even when a driver is inexperienced. For instance, if your teen takes a safe driving course, he or she might be eligible for an insurance discount. Check with your insurer to find out what safety classes are approved in your area before you enroll. Discounts might also be available for good grades, so if your teen keeps his or her GPA up, you can enjoy extra savings.
3. Cut Costs on Coverage
Many teens drive older, beat up vehicles that do not need much coverage. As long as you meet state minimums for coverage and you feel comfortable there is enough coverage for medical expenses and liability, you can cut back on collision and comprehensive coverage for an older vehicle. There is no sense paying for more insurance coverage than the vehicle is worth.
4. Bump Up the Deductible
It’s risky, but increasing your deductible will save you money on premiums. It might be a good idea to set aside some money each month in savings in case of an emergency, since your out-of-pocket expense will be higher, but if your teen maintains a good driving record, a higher deductible can add up to big savings in the long run.
5. Check Out Our Free Search Tool
Our search tool can help you find the best insurance rates in your area for your teen driver. Give it a shot and see how much you can save from one insurance company to the next. It’s an easy and convenient way to find the best coverage for your circumstances.