Car Insurance For Teens
Many people are afraid to buy car insurance for teens because the expected cost is so high. It’s true, car insurance for teens is expensive, but when you have the tools and the knowledge to find the best insurance for your needs, the search doesn’t have to be scary.
Plus, the tools you use to lower your teen’s car insurance rates will help you do the same for yourself.
The Car
First, start with the car your teen will drive. A less expensive, safe, modest car will be much cheaper to insure than an expensive sports car or SUV. Check out lists online that show the most and least expensive cars to insure; let that be your guide as you select a car for your teen driver.
On a particularly inexpensive car, you may also feel safe without collision insurance which will save you money in premiums.
Any safety options or anti-theft devices you can get or add to the car can help lower your insurance costs. These include air bags, automatic seat belts, anti-lock breaks, alarm systems, etc.
Your Teen
Next, work on your teen. A good grade discount is fairly standard across insurance companies. If your teen can keep his or her grades at a B average or better, you will often be rewarded with lower insurance rates.
Stress the importance of avoiding tickets and accidents. Any marks on his/her driving record will dramatically increase car insurance rates for teens.
Shop around, but don’t skimp on coverage.
Finally, shop around to find the best deal. The internet is a great resource for finding cheap insurance rates for everyone. Start by looking at the cost of adding your teen to your insurance. This may or may not be your best deal.
Get several quotes online from various insurance brokers who offer policies from many insurance companies. Play around with the options as you look for deals–see which cars really are the cheapest to insure for your teen, raise and lower the deductible, add safety devices to the car, or reduce the mileage your teen will drive.
As you narrow down your search for the best car insurance for your teen, make sure to check out the companies that offer the insurance. Standard and Poor’s and AM Best offer financial strength or credit ratings on major insurance companies. You want a highly rated (A or better) company to better ensure that the company will be around when you need to file a claim.
Also remember not to skimp on coverage. You are financially responsible for your teen, so he/she needs the same coverage amounts you need.
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Tags: car insurance for teens, car insurance for young drivers, cheap car insurance for young drivers
