How to avail cheap auto insurance for teenagers?


Auto insurance for teenagers never comes cheap and most families simply dread the high auto insurance rates. But that is no reason for leaving your teenager uninsured. If you have a couple of college-going students in the family, they will have to learn to drive sooner or later. Auto insurance can be costly depending on the demographics that the insurers view as ‘risky.’ For instance, male drivers between the ages of 16 and 21 are considered to be high-risk as they cause frequent accidents. But the insurers don’t seem to have the same opinion about girls in that age group.

Whatever the reason may be, auto insurance is a must and parents must look at ways and means to bring down insurance rates. There are many ways to get around this problem and significantly lower the auto insurance premiums and bring them down to the regular rates.

The first and foremost thing is to ensure that you give your teenager a car of lesser value. As the value of the car goes up, the premiums will also go up. If you give your teenager a sports car and if it is involved in an accident, then the insurer will have to spend that much more and that is the reason for charging high rates. So, get them inexpensive cars where the premiums would be much less.

Encourage your teenager to drive a vehicle that discourages reckless driving. Auto insurance companies go by a set of generalized rules. So, if you give your teenager a Ford Mustang they are going to drive recklessly for sure. But a teenager who drives a Ford Focus will obviously not be so reckless.

Try and insure the vehicle yourself as that will help reduce costs as you will get the multi-vehicle discounts. You could do this only if the insurance company does not know that you have a teenager in the house. But if they are aware of a teenager in the house, the auto insurance premiums will automatically go up.

It is always better to have a policy with a higher deductible as it will bring down the premium costs. This means that in case your teenager is involved in an accident then you will be paying a higher amount as deductibles to take care of the damages. So, the insurance company will have some of the burden off its shoulders. This will also help in lowering your premiums.

Always shop around and look for various quotes from companies online. Compare the auto insurance quotes from different companies and then make the decision.