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Tips For Teens And Parents On How To Lower Car Insurance Rates

by

Rodney Jones

Car insurance premiums for adolescent drivers are quite expensive. The good thing is that whether you are a teenager who has not driven or insured a car before or the mom or dad of a teen driver, there are things you can do to reduce costs. Here are several of them.

Suggestions for teens

To make sure that your parents do not pay too much for your auto insurance, one thing you could do is to obtain and maintain good grades. One discount given by insurers is good student discounts. It is because insurance providers generally believe that good students are responsible drivers and are thus have a reduced likelihood of making a claim. Eligibility requirements may vary so you must ask your insurance company regarding this discount feature. In many instances, you should be between 16 to 24 years old to qualify and you have to be a full-time high school or college student. You also need to have a minimum B average. You will likely be required to provide proof of academic achievement, for instance a current grade card. If you are homeschooled, you may show the results from a standardized test just like the PSAT. Good student discounts can cut a substantial amount from insurance costs. Even though the amount you\’ll save from such discount will vary from carrier to carrier, there are some insurers who can provide you with up to $300 discount per year.

Complete driver s education course – This is among the top money savers on car insurance for teens. Some states require driver s ed, while others don t. If your state does not require you to take this course prior to getting a license, it is highly recommended to attend such.

Don t demand a sports car – Elegant sports cars are without a doubt desirable but they\’re also costlier to insure. You can always upgrade to a more advanced car when you are older and have the funds to pay for your own insurance but while you are still financially dependent, choose a cheap and safe ride.

Tips for moms and dads

Check out multiple vehicle vehicle insurance – Adding another car to your policy will make you qualified for a discount. Alternatively, you can take advantage of multi-policy discounts. You will usually be eligible to get a discount if you get car insurance and home insurance if you acquire them from the same insurance company. You may get an additional discount if you apply for an umbrella policy, that offers extra liability coverage beyond your auto insurance limits.

Increase your deductible – This is a surefire way of reducing your premiums. Consider raising your deductible to bring down premiums. Just make sure that you can afford to pay the higher deductible when you need to make a claim.

Insuring a teenage driver can be expensive. There are, however, several steps you can take to reduce costs without affecting coverage. Need to know

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Article Source:

ArticleRich.com