Have you got a teenager who has just started driving? Get prepared for an increase in your car insurance rate. The car insurance premium for young drivers is high as they are considered a risky group to insure. A study from the Centers for Disease Control and Prevention (CDC) suggests that teenagers are more likely to be involved in a car crash than experienced drivers.
Getting car insurance for your teen can be very expensive. The best way to avoid paying a hefty premium is by adding your teen to your policy, rather than getting them their own policy. The average annual rate for teen car insurance is over $2000. Adding your teen to your policy is likely to double your car insurance premium, but it will be way cheaper than getting your teen their own coverage!
Here are some helpful ways to lower the car insurance premium for teenage drivers:
1. Shop Around to Compare Quotes
To make sure you are getting the best premium, it is always a good idea to compare quotes from several insurance companies before settling for one! Comparing quotes is an excellent way to make sure you are getting the best possible deal on your car insurance. Just a little extra research could save you hundreds or even thousands of dollars.
2. Motivate Your Teenager to Get Good Grades
Did you know that your child’s high school or college grade could help save on car insurance? That is right. Most insurance companies offer great student discounts to teenagers who have a good grade point average (GPA), which means a B average or higher. It also works out to be an excellent incentive for your teen to focus well on their schoolwork!
3. Buy a Safer Car to Lower Your Car Insurance Rate
Invest in a car that has higher safety ratings to lower your insurance premium. Go for vehicles with additional safety features such as electronic stability control, blind-spot detection system, etc. Insurance companies will check variables like how capable your car is to avoid accidents and how well it performs in accidents.
4. Take a Driver Safety Lesson
Your insurance company may give you a good discount on your insurance premium if your teen takes an advanced driver’s education safety course.
5. Reduce the Premium with Multi-Policy Discounts
Several insurance companies offer an excellent multi-policy discount if you club your home, car, and life insurance policies together under the same carrier. By getting all your separate insurance covers from the same provider, you may make a significant saving on your annual car insurance rate.
6. Install an Electronic Monitoring Device
You can avail discounts up to 15 percent on your premium by installing a device that keeps a watch on your teen’s driving skills! The tool collects information like how many hours he drives, how often he applies the brakes, the speed at which he operates, and more. This data might help to lower your car insurance rate.
Are you looking for the best car insurance for your teenager? Contact the experts at Phocus Insurance in Phoenix, Arizona, to learn more about the perfect policy that fits all your needs and budget.
