Auto Insurance Guide For Teens; Set Your Mind At Ease
Buying auto insurance at ANY age can seem like a daunting task
, even more so as a teenager. But, as they say, knowledge is power. When you know better, you do better. So here are the essential facts you need to know about buying auto insurance as a teenager.Why are auto insurance rates more expensive for teenagers?
Yes, insurance for teenage drivers can be a little more expensive than regular insurance, but there are reasons for that. The main reason is that most teenagers are less experienced drivers and so there is always a greater possibility of them meeting with an accident. Insurance companies view teenage drivers as higher risk drivers and so their rates for insuring them are also comparatively higher.
What kind of auto insurance coverages makes most sense for teenagers?
Although expensive, it"s advisable for teenagers to opt for comprehensive coverage on their automobiles. This kind of coverage pays for damage caused to your vehicle from causes other than accidents. This includes damage caused by flood, wind, hail, storm, fire and theft. However, comprehensive coverage might not be a feasible option if you"re driving an older car. In this case it would be best to drop comprehensive and collision coverage altogether and stick to basic liability coverage instead. Evaluate all your options and settle on one which works best for you.
In what ways can a teenager save on auto insurance?
While auto insurance might cost significantly more for young, teenage drivers, there are ways in which you could lower your premium a considerable amount. Here are some of the ways in which you could save on auto insurance:
Enroll in Drivers Ed or defensive driving classes
Insurance companies feel more confident giving the best premium rates to safe, cautious drivers. By enrolling in defensive driving classes, not only do you learn about the risks associated with driving, but you also learn how to anticipate them and make sound, well-informed decisions. The benefits of taking a defensive driving class might vary by State of even the insurance provider, but most often taking a defensive driving course could result in discounted premiums, assurance that insurance rates will not increase or even a reduction of points on your license following a ticket.
Discounts for good grades
Getting good grades could get you some discounts! Increasingly, insurance providers have started to offer discounts to student teenage drivers with good grades, so it"s probably a good idea to get cracking on those grades and have them pay off in more ways than one!
Low-mileage driver discounts
If you are a new driver, who is just starting out, and are planning on driving less than 10,000 miles a year, you might be eligible for a discount on low-mileage. Quite obviously, fewer miles on the road means lesser chances of being involved in accidents which in turn means lesser risk for the insurance company to cover you.
Get onto your parent"s policy
As a licensed teenage driver, it would be a good idea to get onto your parent"s policy, if you"re looking to save some money. Most companies might not charge an additional premium on the policy and if they do, it might not be very high.
Also, it is a known fact that credit score impacts insurance rates. So, if you are a new driver under the age of 18 and have no established credit history, you might be able to get a better rate if you"re added to your parent"s existing policy and listed as the primary driver.
Safety devices installed
When you"re starting out as a new driver, you should know that you and your car"s safety are of utmost importance. Installing safety devices such as alarms, air bags, etc can go a long way in bringing down your insurance rates. The insurance companies are likely to provide more discounts to such precautious and safe car owners.
When getting an auto insurance quote from an insurance provider, ask about the different kinds of discounts they offer to teenage drivers and what you can do to avail these discounts. And always remember the more inexpensive and safe the car of the teen driver, the lesser the premium you will have to pay.
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