When your teenage son or daughter gets their driver’s license and heads out on the road, it is an exciting time for them and a nerve wrenching time for you as a parent! Here are several ideas to help save on auto insurance for your teenager driver.
– Check for good student discounts. Many insurance companies see students who get good grades – A’s & B’s – as more responsible.
– Driver education classes are important for teaching teens the rules of the road and may also qualify them for a discount on insurance.
– Before buying a car for your teen, check with your insurer to see the insurance rate for that vehicle. Sports cars and more expensive models will cost more to insure. Your best bet is usually an older model with a good safety rating. A car with safety features such as side air bags will also help save money.
– Raise your deductible.
– Drop collision and comprehensive if your teen is driving an older car that is worth little more than the deductible.
– If your child goes away to college, let your insurer know. You may get a break on your premium and still have coverage for your child when they are home for a break.
– It will help if you can put the teenager as the primary driver of the oldest vehicle on your policy.
– If your teen has a minor accident, you may want to consider paying for the damages out of your own pocket instead of reporting it to the insurance company. Teenage accidents can cause the rates to increase dramatically.
– Finally and perhaps most importantly, remind your son and daughter every day of the dangers of talking on cell phones and texting while driving.