Many parents dread the day their children turn 16, because it means they are legally able to drive without the supervision of a licensed driver. Aside from the safety concerns of having your constantly-texting teen behind the wheel, your child’s newfound driving freedom means that he will probably want his own car as well. Even if your child drives your family car, you may be surprised at the cost of insuring your teen driver
Insurance policies tend to be higher for teens, because they are inexperienced drivers. But you can take a few steps to make the cost of insuring your teen driver more affordable.
1. Combine policies
Your best option for making your teen’s insurance affordable is to bundle your teen’s policy with your own to qualify for discounts and other budget-friendly opportunities from your insurance company. In addition to adding your teen onto your insurance, consider combining your insurance policies to make your payments simpler and your rates lower. For example, it doesn’t make sense to have auto insurance with Company A, life insurance with Company B and homeowners insurance with Company C. Combining all of these with just one company often leads to better deals and lower bills, since companies want to reward customers for their loyalty.
2. Choose your teen’s car wisely
That flashy red convertible your teen’s been eyeing may win her popularity points with the cool kids at school, but your insurance company may not be as impressed. Fast cars with limited safety features pose more of a risk than their safer more conservative counterparts. You don’t have to put your teen through the embarrassment of driving a minivan to school, but it does help to look for a low-risk vehicle that’s both safe and dependable. Look specifically for a high safety rating when you’re shopping for a car, and be sure to check for various safety features such as air bags, automatic seat belts and anti-lock brakes.
3. Take advantage of safe driver discounts
Without a driving record, it can be difficult for your teen to prove he is a safe driver. Building a clean record over time will certainly be rewarded in the long run, but for now, there are still a few things your teen can do to help you save on your insurance costs. One of the best things your teen can do is take a defensive driving course to develop driving skills and learn important techniques for staying safe on the road. Your teen can earn certifications from these kinds of classes, which will prove to the insurance company that he is proactively working toward being a safe driver. Not only will you enjoy lower rates, but your teen will be safer on the road, as well.
Driving can be a dangerous activity at any age, but it’s even more of a hazard for those who are new to it. Focusing on safety first and foremost is one of the best ways you can lower your insurance bills, because at the end of the day, insurance companies are there to protect drivers on the road. By taking advantage of the rate-reducing opportunities above, your teen’s newfound mobility can put a bit less of a strain on your bank account.
