The most expensive car insurance that you can ever buy in the United States is when you’re young. So what steps can you take when your teen becomes a driver?
You could be paying a lot of money when your child is on your policy so the first step in saving money is to keep the child off your policy as long as you possibly can. That might mean to keep him on a learners permit for as long as the law allows, because some insurers do not require coverage on a permit driver. Secondly, give older cars to the younger drivers. Why, because the premiums on older cars are less expensive. Try to get your child covered on the least expensive car in the household and check insurance policies prices before you buy any car.
Usually a teenager wants a fully modified and a fancy car, however a lot of people do not realize that theft is a big part of their insurance premium, and the latest convertible cars that these kids want is at a greater chance of being stolen than some ordinary car. Just because it is a great car doesn’t mean it’s going to be there when you wake up in the morning. So the more expensive and eye catching car is, the more will be the premium on your auto insurance policy.
Another thing that could help is to ask for discounts. You could get discounts for being a good driver. Otherwise, accidents can greatly increase your premiums or your insurance company could even cancel your policy at your next renewal. Also, avoid traffic tickets since these can increase your premiums for up to 3 years.
And let’s not forget a child with good grades. The ‘good student’ discount is about 10 percent, which saves tremendously on the premiums. A student with a grade point average of 3.0 or above is generally considered to be a “good student.”
One last thing, honesty will get you the best policy. Don’t forget to get your child auto insurance when they do reach the driving age, otherwise if they drive and do have an accident your policy could be voided or much worse! Also be sure to check out the latest offerings available to you online at various specialized insurance websites that can help you find the best deals in your local area that can provide you with the greatest discounts and help you save the most money each month.