Because they lack experience and higher decision-making abilities, teen drivers are much more likely to be involved in an accident, resulting in expensive claims against their insurer’s company. Insurers attempt to mitigate this risk by charging teen drivers more, but this doesn’t mean auto insurance is automatically out of reach. In fact, there are a variety of tactics parents can use to lower the cost of protecting their young drivers.

How to Lower Coverage Premiums for Teens

1. Add Them to an Existing Policy

Maintaining separate insurance policies for you and your children is almost always more expensive than having all drivers in your household covered together. In most cases, you can save a significant amount of money every month by adding your kids to your existing plan.

2. Consider Changing Carriers

If adding your children to your current auto insurance policy is cost-prohibitive; consider switching to another carrier with more affordable prices. An independent agent can compare rates from a variety of insurers to ensure you get the best deal possible.

3. Ask for Discounts

Many insurance companies offer discounts for homeownership, good grades, and teens who have completed safe driving courses. Your agent will help identify all the deals for which you qualify, including those designed to lower the cost of covering your children.

4. Buy Another Vehicle

The type of vehicle your teen drives has a significant impact on their premiums, so you may want to consider buying a low-value car or truck and listing your child as the driver. In some cases, the savings can quickly offset the price of purchasing a dedicated automobile.

The auto insurance specialists at Dunlap Agency have been helping Fairbanks, AK, drivers get the coverage they need since 1986, establishing a reputation for unmatched expertise and friendly client service. With their extensive network of insurers and in-depth knowledge of the industry, they’ll help select a policy perfectly suited to your needs. Visit their website for more information about their services, follow their Facebook for updates, and call (907) 456-5202 to request a quote today.