Getting a car is one of the biggest hopes and dreams of young drivers, but not as exciting for their parents. Aside from the fear of allowing teenagers to drive, most parents know that purchasing car insurance for teenage drivers is extremely expensive. Due to the fact that car insurance companies see teens as being risky drivers, it is typically much more expensive to insure them than adult drivers. However, as few things can keep a teenager and their car apart, we include car insurance discounts for teen drivers to lessen the financial burden for parents.
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Good Student Discounts
Some car insurance companies offer discounts on car insurance policies to teenagers who are good students. Different companies have different requirements, such as age and grade point average (GPA).
Typically, to get the discount, teenagers my show proof of their good academic standing by submitting a copy of their report card or a letter signed by a school administrator. Alternatively, students that are home schooled can provide results from standardized tests, such as the SAT or the ACT.
Although good student discounts vary for teenage drivers, some companies offer savings of several hundred dollars per year.
Get a Family Policy
Most states do not allow teenagers to sign their own auto insurance policies, thus making their parents co-sign for them. However, this is good financial news for families as not purchasing an individual car insurance policy for a teenager, but instead bundling it together with your family policy will definitely save you money.
Plus, most policies offer multi-car discounts; so when you add your teenager’s car to your policy, you will be paying a cheaper price altogether than paying separately for each car and driver.
Choose Your Teenager’s Car Wisely
Your teenager may be begging you for that new, shiny sports car, but you should do your research about which cars are considered safer. Not only will you protect your teenager and those driving in the car with them, but you will also get a better car insurance policy premium if your teenager drives a simpler car with high safety ratings.
These types of cars will always be cheaper to insure than newer and fancier ones because they are cheaper to fix in case of an accident. However, buying the cheapest and oldest car is also not a great option because they typically lack safety features which can provide discounts on your auto insurance policy.
If you’re not sure which automobile is the best choice for your teenage driver, contact your auto insurance agent before you begin to car shop to ask their advice.
How do you know what the best teen auto policy is? You have to get multiple quotes!
Click here to get instant price quotes for your teenage car insurance policy: https://savemoneytricks.com/car-insurance/
