Teenage drivers are generally the most dangerous on the road, causing more than their share of auto accidents, mostly due to their inexperience behind the wheel. Because youth is so closely related to auto accidents, adding a teen driver to your auto insurance policy will usually increase your premiums by 80% or more, which can be difficult for many families. Fortunately, age isn’t the only factor insurers consider, so there are ways to lower the cost of insuring a teen driver.
4 Steps to Lower Your Teen Driver’s Auto Insurance Premiums
1. Increase Your Deductibles
The higher your deductible, the more affordable your monthly premiums will be, so increase yours to at least $1,000. However, be sure you have enough on hand to cover the deductible or pay for any fender benders your teen driver might cause.
2. Get Them Their Own Vehicle
If you drive a more expensive, late-model car, it might be cheaper to buy your teenager their own vehicle instead of adding them to your existing insurance. With an older, less expensive vehicle, you might not even need comprehensive or collision coverage, further reducing your rates.
3. Consider Bundling Policies
Most insurance companies offer substantial discounts to customers who purchase multiple policies, potentially saving you hundreds of dollars per year. However, you usually have to ask, so request an auto insurance quote from the carrier who provides your homeowners coverage.
4. Use an Insurance Agent
Comparing policies from several different carriers is key to getting the coverage you need at the best possible price. An experienced agent who understands the industry can find every discount your teen driver qualifies for, get quotes from several different carriers, and help you make the best choice for your teen and wallet.
Since 1960, the independent agents at Kramer-Myers & Werring-Dickerson Insurance have helped parents throughout Batavia, OH, get the best auto insurance available for their teen drivers. With their extensive background and a broad selection of policies, you can rely on them to keep your family and your assets safe. To speak with an agent and request a free auto insurance quote, visit their website or call (513) 732-1461 today.