Everybody knows that teenage drivers are more prone to accidents than any other age group. Years of study and statistics have shown insurance companies just what to do – increase teen auto insurance rates. We cannot blame them for being too harsh in giving rates because accidents mean expenses for both them and the client. If you let your teen driver in his current insurance, expect it to increase by one or two thousand dollars a year. However, there are still ways for you to lessen these rates and some of them are listed below.
- Ride with him. It may sound strange, but it simply means showing your young driver how to drive safely. Doing this will help him not to get into accidents which will be beneficial for your teen auto insurance.
- Do not buy your teen an SUV or a sports car. Both vehicles are considered high-risk because of their probability to get involved in accidents. Sports cars have higher top speeds which teens test, and oftentimes, this leads to serious physical injuries and of course, terrible expenses. SUVs on the other hand are heavier, and thus difficult to control. Once an SUV gets into an accident, it will cause massive damage to its surroundings.
- If your young driver has a job, you may ask them to pay a small part of the insurance. With this they will feel responsible for the actions they will take, especially when driving.
- Motivate them to get higher grades. Students with a 3.0 GPA or higher normally have 10% discount in their teen auto insurance, which is the biggest help in reducing teen insurance rates.
- Allow your teen to attend special driving classes. These classes are sometimes sponsored by insurance companies so better enroll them in defensive driving classes to enhance and refine their driving skills on the road.
- If you want to search for auto insurance with better rates, then go online. Shopping around and comparing quotes can also be done for your teen’s insurance. Because there is a large competition online, insurance companies lower their prices to catch the attention of potential customers. If you found an offer which is 5-10% lower than your teen’s current coverage, consider your search as a success.
These are some of the things you should do to lower your young driver’s teen auto insurance. By the time he turns 21, his insurance premiums will decrease a bit, and it will decrease even further after that. Just make sure that your teen knows and practices driving safely.