Insuring Teen Drivers?
8 Cost-Saving Tips
Auto insurance certainly isn't cheap, especially with a teenage driver on the policy. But did you know there are ways to save big bucks even when insuring a new driver? We had to dig deep for some of these money-saving tips which makes us think they're so good the insurance companies don't even want us to know about them!Â
- Choose a car wisely. A reliable make and model with more safety features than bells and whistles is absolutely the way to go!
- Driver's education is key. When your teen completes a driver's education course, your rates go down. Check with your DMV for more information.
- Good grades pay…literally! If your teenager earns a B average or better, most insurance companies offer good student discounts.Â
- Low-mileage discounts are worth looking into if your teen won't be putting a ton of mileage on the car. The less driving your teen does, the less you pay (and worry!).
- Modify your current policy. If your kid is driving your 2001 Honda, comprehensive coverage probably isn't necessary. Consider increasing your deductible to lower your premium.
- Safe driving, from you and your teen, also saves money. A spotless driving record equals a cheaper policy, so be safe and save! Usage-based apps are making it even easier to save money!
- Shop around! There is so much competition between insurance companies these days and online comparisons make it so easy to take advantage of it. Use the information at your fingertips and get the best deal.
- Usage-based apps. Insurance companies like Progressive have already begun using this technology to provide rates based off of holders' driving records. Their version of this usage-based app, Snapshot, provides opportunities for discounts based on safe driving. Consider "plugging in" for the savings!