Insurance companies see teenaged drivers as a higher risk, as they are the drivers most likely to get into accidents or get speeding tickets. When you add your teenager to your insurance policy, your monthly premiums are guaranteed to increase.
Try these tips to keep your insurance premiums as low as possible while still insuring your teenaged drivers:
Small, speedy cars are far more likely to lead to accidents, as they encourage the teenager to drive more quickly, zip in and out of traffic, and engage in reckless behavior. A “boring” car like a station wagon, mini-van, or a slower sedan will decrease the risk of accidents and speeding tickets, thereby keeping your monthly premiums lower. Visit the IIHS’s website to find out which vehicles have the lowest auto insurance losses. These vehicles will have the lowest insurance rates, meaning the smallest increase to your monthly premiums.
If your student has at least a “B” average in school, your auto insurance company may agree to a discount on your premiums if you ask. A teenager with good grades is perceived as a “lower accident risk” by insurance companies.
Teenagers that complete drivers’ education courses are also more likely to receive a discount from insurance providers. Understanding the rules of the road decreases the risk of teenagers getting into accidents or speeding, thus insurance companies categorize them as a “lower accident risk”.
Just as with adults, teenagers with clean driving records (no speeding tickets, DUIs, or accidents) will be able to apply for lower insurance premiums.
These four tips can help you to save a significant amount (as much as $800 per year!) on your car insurance policy, even if you have a teenaged driver or two included in your coverage.
Want to get the best quality car insurance for your vehicles? Got a teenager that’s about to start or has already been driving for a few years? Absolute Value Insurance is proud to offer reliable, affordable car insurance. We’ll work with you to come up with a monthly premium you’re happy with, one that guarantees your teenager’s protection while on the road.
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