What could be more stressful than teaching your teen to drive? The search for affordable auto insurance rates. Being an inexperienced driver puts your teen at a higher risk for accidents, which makes finding reasonable insurance rates a daunting task.
Before you add your teen to your insurance policy, there are a few things to consider if you want to get the best rate possible.
Start early
Waiting until your teen acquires their learners permit to start thinking about insurance is a bad idea. Doing your research before your teen needs insurance can save you money.
Allow yourself plenty of time, even up to a year prior, to contact insurance companies and discuss options. Feeling less pressured will help you make better decisions and will allot you enough time to properly research your options.
Choose the right car
New vehicles mean higher insurance premiums, and the rates for teens driving new cars can be substantial. Older cars mean lower rates and are the best choice for new drivers.
Even if you can afford a new car for your teen, you may be better off purchasing one for them when they are older and have driving experience under their belt, such as for college graduation rather than as a gift for a sixteenth birthday surprise.
Another thing to consider is whether or not the car has good ratings in crash tests or if it is a model with a high theft rate. Your insurance agent should be able provide you with information on how to obtain these ratings.
When deciding on a car, call various insurance agencies and get quotes on each specific vehicle before you purchase the automobile. If your teen will be sharing a family vehicle, and you own multiple vehicles, find out which one would be best to add your teen on as a driver.
Talk to your teen about waiting
This may be a tough one, but it can pay off. Generally, older teens can get cheaper rates. Not every teen rushes off to get their permit as soon as they are old enough. Waiting can save you money on insurance and allow your teen more time to mature and become a better driver.
Look for incentive programs
Incentive programs vary greatly from one insurance company to another. Ask questions when doing your research. Find out if there are rate reductions for driver's training courses, good grades, completing training videos through the insurance company, etc.
Again, allowing adequate time to research all of your options can help you locate these incentive programs easier.
Obtaining a learner's permit and driver's license is an exciting life event for teens. Beginning to discuss and research options before your teen is old enough to drive is a wise decision. Not only will it eliminate stress and save you money, it will make the important milestone of learning to drive a positive experience for both you and your teen. Companies such as Budget Bi-Rite Insurance Agency can answer more of your questions regarding insurance for teen drivers.
Share30 July 2015
About ten years ago, my auto insurance was cancelled. This took place after one too many accidents. I was now a high risk, and my provider was not willing to keep me on any longer. Since there was no way that I was going to get behind the wheel without coverage, I started checking out plans with high-risk insurers. Some were not all that great, but others offered benefits that were very close to my old plan. I soon found a provider who would accept my application, and I began to be a little more careful with my driving. If you are having trouble buying auto insurance, let me help. I'll tell you what to look for in a high-risk provider, and how to find the best one in your area. In no time at all, you'll be covered and ready to get back on the road again.
