Buying car insurance as an adult is challenging enough. But when the time comes to get coverage for a teen driver, the process can get even more difficult. As a parent, you always want your teenager to have the best car insurance option as possible, especially as a new driver.
To find the best car insurance for teens, these six tips will help. You will end up with protection you feel comfortable with without spending an enormous amount of money.
1. Get Your Teenager Involved in the Process
This is a great learning opportunity for your teen. Whether you pay the premiums or they do, if they plan to be a responsible driver, they should understand what car insurance is all about. Unfortunately, most teenagers on the road today have no clue what kind of policy they have, let alone how much it costs.
Educating your teen is one of the best things you can do for them. So, when the time comes to start getting quotes, regardless if that involves using an online tool, visiting an insurance company’s website, or calling a provider, turn this task over to your teenager. You can sit beside them to provide guidance, helping them ask the right questions and supply the necessary information.
2. Enroll Them in Driver’s Ed
Whilst you might feel like rolling your eyes on this one, knowing that your teen will push back, there are two reasons to do this. First, driver’s education gives your child one more layer of protection. With this, a qualified instructor teaches young drivers how to respond in different situations. Second, most insurance companies offer a discount on coverage for teens who complete this type of course.
3. Look for Discounts
Speaking of discounts, this is an excellent way to save money on car insurance for a teenager. Along with paying a lower premium if they complete driver’s education, there are many other ways to save money. For example, if your teen drives a vehicle with safety and anti-theft devices, you spend less. As you look at different insurance providers, pay close attention to the types of discounts available. Each one of those adds up quickly.
Something else worth noting is that although your teen will drive, some insurers apply discounts toward the policy for the adult’s benefit. As you move forward and talk to different agents, spend the necessary time to uncover all possible ways to save.
4. Add Your Teenager to Your Policy
This is another great way to spend less on quality car insurance for a teenage driver. Trying to secure an individual policy for your child will cost a lot. So, when getting quotes, consider having them named as part of your car insurance coverage. In addition, consider putting the policy on a car that is in your name or your significant other’s name as opposed to theirs. They might not like that, but it will further reduce what you pay in premiums.
5. Postpone Your Teen Getting a License
This is another topic you can anticipate some pushback on. However, at age 16, you will pay the highest car insurance premium, whereas, each year they get older, the premiums go down. If your teen is not mature or responsible enough to drive, this will save you money and give you greater peace of mind as well.
6. Get Them an Inexpensive Car
If you asked 100 teenagers what kind of car they want to drive at 16, you can bet they would all say a Porsche, Lamborghini, Lexus, or some other high-end model. Here’s an important fact: The more expensive the vehicle is, the higher the car insurance premiums. That applies whether your teen owns the vehicle or you do. Besides, at that age, most kids do not have the money to handle an expensive car.
It’s a more comprehensive policy
The six tips mentioned will help you get an excellent policy for your teenage driver without costing you a fortune. However, there are a few other ways you can save yourself a bit of dosh. For example, you might think about increasing the amount of liability coverage. Keep in mind, a comprehensive policy includes this but boosting the coverage would make it easier to pay for any physical or property damage caused by your teen in an accident.
One last thing, getting an umbrella policy for your teen driver would give you even more peace of mind, at least from a financial perspective. This type of policy covers costs not included in your liability limits. Ultimately, it picks up the slack where a standard policy leaves off.
