Car insurance for teens – Take a look around!

Like most parents who have a teenager, there comes a time when they can and want to drive. With this new freedom comes changes for both the parent and the teen. More than likely, the arrangement for the teenager is much more beneficial to them than to the parents. But as parents, we have to find a way.

Just like car insurance for adults, finding insurance for a teen works the same way. Since you are overpaying for car insurance yourself, this article can help you in two ways.

Here are some helpful things to know when shopping for you and your teen’s new insurance policy:

Rule number one, get all your discounts. There are many discounts available that people aren’t aware of, and most insurance agents won’t tell you about them. Do your homework on all applicable discounts, including: seniors, safety features, good grades, multiple cars, low-risk jobs, etc. The list goes on. Find out where you stand in that list.

Are you a member of AAA or any other club or organization? Just as you may have saved $10 on that last hotel stay, you may be able to save a little on car insurance. Hey, every little bit helps!

Another aspect to take into account is the combined insurance. If you own a house, does your policyholder also cover cars? If they do, and you don’t already insure your cars with them, check the coverage rates. You would be surprised how much you can save by insuring your home and car with the same insurance company.

A very popular way to lower auto insurance premiums is to take on more risk. By this we mean that you increase your deductible. The higher the deductible, the less the insurance sees it as what the company has to cover.

And yes, the car. What type of car do you drive? If you drive a sporty car, your insurance rates will definitely go up. Guess what? If your teen drives a sporty car, insurance rates will increase. A sporty car means a greater risk for insurance companies. Sports cars are known for speeding and inducing risky driving. Couple that already implanted idea with a teenager and you have a recipe for disaster. At least that’s how the insurers see it. SUVs and trucks are also a red flag. Not so much a sports car, but a close second. If your teen is looking for auto insurance and drives an SUV or truck, ask for a higher rate. Due to its size and number of accidents, this type of vehicle is reserved for more experienced drivers. High profile vehicles are easy to turn and roll.

See also  The requirements for factory fire insurance

Moral of the story is, if you’re looking for car insurance for your teen, look at your insurance first. Clarify what you can on your existing policy, see where you can get additional discounts for yourself, and then add your teen.