You’ve heard it before. Teenage drivers are considered a bigger insurance risk than older, more experienced drivers. Their rates are normally higher, but there are steps you – and they – can take to keep the premium as low as possible.
1. Keep your teenagers on the family policy so you can benefit from multi-car and multi-policy discounts.
2. Increase your deductibles. Your premium will drop significantly if you choose a higher deductible, which is the amount you pay out of pocket before insurance takes over.
3. Adjust your coverage. If your teen is driving an old car, comprehensive and collision coverage may not be necessary.
4. Look for teen-driver discounts, which are offered for driver safety education courses, good grades, and low annual mileage.
5. Choose their car wisely. The more safety features the car has, the more discounts you will receive. Don’t buy your children expensive, sporty vehicles, which cost more to insure.
6. Urge your teens to drive safely, gain experience gradually, and maintain a clean driving record.
7. Sign a driving contract. Some companies offer discounts for teens who sign a contract promising to wear a seatbelt, never text and drive, and call for a ride if they’re impaired.
8. Encourage them to leave the car behind when they go to college. If your teen lives at a college more than 100 miles away and only drives your car occasionally, you may qualify for a discount.
9. Shop around. Prices for the same coverage can vary greatly. You can save money by using a licensed independent insurance agent who represents several different companies.
Ryan Insurance & Financial Services is one of the leading independent insurance agencies in Volusia County. We offer competitive prices, complete coverage, and quality customer service. Call us today at 386-738-2000 for a free consultation and quote.