As a parent, it can be daunting to think about your teenager getting behind the wheel for the first time. There is the worry of them being involved in an accident and the cost of insuring them. The insurance costs for new teenagers are high, partly because they have a higher risk of an accident. With that in mind, we’re going to give you a set of guidelines and recommendations to help you get the best auto insurance you can get at a price that is good for your budget. Even if you already have another vehicle insured, you’ll want to insure your teenager so that they can stay safe on the road. You can avoid the worry and cost of accidents by researching and finding a provider that meets your needs.
Check out these helpful tips to reduce the cost of auto insurance for your teen driver.
Set Your Safety Expectations with Your Child
To reduce the likelihood of accidents, emphasize to your child that driving should be taken seriously. Also, help clear up any ambiguity regarding your and your family’s driving policies, and offer defined consequences to use in case the driving rules are broken. Start by limiting your teen’s ability to drive at night. Ban them from using their phone while driving. Set an example by driving safely, yourself. To ensure your child maintains the safety routines they learned in driver’s education, occasionally ride with them.
Include Your Teen in Your Auto Insurance Policy
Instead of purchasing a separate policy for your teen driver, consider adding them as an additional driver to your existing policy. Also, if you have more than one vehicle, you can save money by designating which vehicle your child will drive.
Consider the Deductibles
You can significantly reduce your premium by raising your deductible and using your insurance for major repairs only. However, to combat rate increases, do not drastically reduce your liability coverage. If you do not have adequate car insurance coverage, you will be forced to pay for damages out of pocket if your child is involved in an accident with insufficient coverage.
Consider Your Product Choices
It’s understandable to want to get your teen a new car with the latest safety features, but in terms of premium prices, you might be better off buying a safe, used vehicle.
Some Other Ways to Save on Auto Insurance:
- Increase your comprehensive and/or collision deductibles.
- Check for student discounts.
- Maintain your teen’s safe driving record.
- Confirm whether you are eligible for multi-policy discounts.
The App that Can Help Keep your Teen Safe on the Road
Consult with Young Insurance
Teenage years are fun, but they can also be stressful! The freedom of having a driver’s license is great, but the responsibility it comes with can be overwhelming. One of the most important things to remember is that, as a parent, you need to have adequate auto insurance and coverage for your teen to stay protected on the road. Contact our agents here at Young Insurance if you have any questions about your teen’s auto insurance policy. We’re here to assist you in locating the best policy for you and your teen.