Youth and inexperience can be costly when it comes to car insurance. Because new drivers have less experience and tend to be involved in more accidents compared to other age groups, insurance providers consider them riskier to insure. Thus, if parents add teens to their policies, they’re likely to see a rise in their monthly bills. Fortunately, there are ways to lower these rates and make coverage more affordable.

How Can Teen Drivers Save Money on Car Insurance? 

1. Seek Out Discounts

Many carriers provide discounts tailored for teen and younger drivers. These include successfully passing an approved driver education course and maintaining a clean driving record. Some providers will even reward teen drivers for getting good grades, as it has been shown that students who maintain at least a B average are less likely to get into accidents. 

2. Buy a Safe Vehicle

The type of vehicle driven also influences insurance rates. Fast, high-performance cars will typically cost more to insure because they’re more likely to be involved in accidents. Vehicles with strong safety records and features such as automatic braking, lane departure warning systems, and blind spot detectors often help reduce car insurance payments. If you’re shopping for a vehicle for your teen driver, check out the Insurance Institute for Highway Safety, which provides safety ratings on a host of vehicles.

3. Consider Raising Your Deductible

Increasing your deductible will lower your premiums. Although it means you’ll pay more out-of-pocket after an accident, the move could keep monthly premiums budget-friendly. Consider raising your deductible to the highest amount you can still afford.

4. Partner With One Carrier

Most insurance companies provide discounted rates if you bundle multiple policies. For instance, if you currently have homeowners and life insurance with one carrier, ask about incentives for adding car insurance. There may also be loyalty discounts if you keep all of your coverage policies with the carrier for the long term.  

By following these tips and finding a reliable carrier, you can lower your car insurance premiums when your teen starts to drive. Dewey Beckner, a personal financial representative with Allstate Insurance Companies, has more than 20 years of experience serving home and business owners throughout High Point, NC. He’ll take the time to listen to your unique needs and help you find discounts that will lower your monthly payments. Call (336) 884-5636 or visit the website today to request a free, no-obligation insurance quote.