Tips for getting car insurance for your teen
Having a teen driver in the house can definitely keep parents up at night. If you have a teenage daughter or son who is learning to drive, you know exactly what I'm talking about; the sudden stops, the reminders to look before turning, and the pleas to slow down.
Parents can't control every situation. All they can do is raise responsible teenagers, teach them how to be as safe as possible, and get car insurance for their teen drivers.
Although having car insurance doesn't stop unfortunate events from happening, it can definitely help parents sleep better at night knowing that their teen - and their car - are covered in case of theft or damage while on the road.
If you have a young driver in the house here are three things to know about car insurance for teens:
1. Rates don't always have to be high
It's true that the cost of annual insurance premiums for a first time driver are higher than those of an experienced driver. However, that doesn't mean you have to overpay for your car insurance. Shop around and get quotes from at least three different insurance providers before committing to one.
It's important to disclose all details about your teen, including age, gender, and, in some cases, even their grades. Just as an adult driver may receive discounts on car insurance for a good credit score and based on their profession, teens can receive a discount for good grades.
Also keep in mind that as soon as your young driver graduates from college or university they will be eligible for additional discounts on their car insurance.
2. Prove your teen is a good driver
There is a new trend sweeping the insurance industry, and often it comes in the form of big discounts for drivers and their teens. Telematics is an electronic surveillance system that tracks your driving habits. The better driver you are the lower your insurance premiums will be. The same is true of teen car insurance.
Fortune.com says that telematics can be small electronic devices that insurance companies add to your vehicle to track your moves on the road, or they can use an existing GPS service such as OnStar. Either way, a good driving record equals a discount on car insurance for your teen.
3. Car insurance is cheaper with Driver's Education
Let's be honest: teaching your teen to drive is terrifying – and that's putting it politely. For most parents, teaching a teen to drive is a nightmare. know it was for my parents. Plus, on top of it all, I learned to drive a manual-shift car, making the situation unbearable for my parents.
They decided to do the smart thing and hire a professional (with professional patience) to teach me how to drive. I think we can all agree (20 years later) that the cost was money well spent. As an added bonus, it also helped lower my teen car insurance premiums.
When getting a quote on car insurance for your teen, be sure to tell the insurance agent that your driver has successfully completed Driver's Education; it will help lower the cost.
There’s no getting around higher premiums once your student starts driving. But you can ensure that it’s not more expensive than it has to be.