Safe driving is actually one of the easiest and most controllable ways to keep teen auto insurance premiums down. Teen drivers should practice safe driving anytime they are behind the wheel, which means driving the speed limit to avoid speeding tickets and driving cautiously to avoid auto accidents. It’s also important to keep in mind that the driving indiscretions of new teen drivers will be a cost that will follow them for years to come, as most auto insurance companies look at the last three to four years of the driver’s driving record when setting premium rates for the driver.
Another discount can be found if the parent of a teen driver has multiple insurance needs that they are willing to meet through one company. A good number of insurance companies offer discounts to customers that exclusively use them to insure all their vehicles and/or for other insurance policies like homeowner’s insurance. Teens that will be paying for their own policy can ask their parents to find out if their existing policy would provide coverage and offer to pay their parents the cost difference. There are also niche insurance companies that specialize in teen auto insurance policies if premiums would raise significantly for the parent.
The make, model, and safety features of the car driven by the teen can impact premium rates. Features like anti-theft devices, antilock brakes, and safety bags can slightly lower the premiums. On the other hand, hot-rod and flashy cars that insurers view as driving hazards can significantly raise premiums.
Choosing liability coverage only or your state’s minimum required amount of insurance can help lower premium costs if a teen will be driving a vehicle of little value or that doesn’t have a lien.
In closing, nobody said being a teen driver is easy or cheap, but there are quite a few easy ways to save on teen auto insurance.
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