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Insurance rates are governed by state regulations and so vary from state to state. Generally speaking, however, car insurance rates for teens are higher than premiums for adults. This is because teen drivers are deemed high risk as they lack driving experience. However, some key moves will help you get insurance breaks and earn huge savings.
- If you have older cars, then opt out of collision and comprehensive coverage. Potential returns from such coverage are lower than the premium you will be paying. If you have an older car, let your child ride it.
- Send your kid to a driving school to learn how to drive or to upgrade their driving skills. Insurance companies give lower rates to kids with certifications from driving schools.
- Choose a car with higher safety ratings.
- Kids with B average or higher get insurance discounts. Insurance companies believe that kids who do well academically are more responsible drivers and so reward them with lower rates.
- Apply for auto insurance for teens from the same company that provides your other types of insurance, such as life or auto insurance. Most insurance companies grant discounts to owners of multiple policies.
- Encourage your child to drive safely. Auto insurance companies lower premiums on teen drivers with zero accident history.
- Ask your insurer if there are discount programs available for teenage drivers and how your child can qualify.
The bottom line is, you need to show the insurer that your child is least likely to get into an accident (low risk) in order to get discounts on premium. Shopping, when done right, can also give you thousands of dollars of insurance savings. Shop around for quotes from different insurers, and then make a shortlist of the most affordable ones. This is good way of finding the best teen car insurance quotes on the market.