Insuring a teenage driver isn’t a simple task. Teens both face and create unique risks when they drive. Therefore, their auto insurance will likely come with higher costs. Don’t worry, even if you have a teen driver, you can still find ways to keep your insurance prices manageable.
Why Teens Face High Insurance Prices
Auto insurers determine their policy rates based on risks posed by customers. Risks come in various forms, but age and experience often factor among them. Teenagers may not have the experience behind the wheel to make them the safest drivers. Therefore, an auto insurer may consider them more of a cost risk. This might lead an insurer to raise the price of a policy if it has a teenager on it.
How to Save on Auto Insurance
When you have to insure your teen driver, you will likely need to examine your auto insurance options. You might find yourself increasing coverage to better address the risks of your teen. Coupled with the increase in risks, your insurance rates may seem likely to increase.
Nonetheless, you can take proactive steps to help keep your auto insurance costs low. Even with a teen driver, you can find ways to save.
· Combine Policies: Often, parents add teens and their vehicles to their existing insurance. Multi-car or multi-driver policies often save costs compared to having separate policies for teens and their parents. Insurers may also award discounts when people enroll in multi-car policies.
· Consider Discounts: Insurance discounts can save drivers considerable funds on their policies. Insurers may even be able to offer discounts to teen drivers. For example, accident-free and full-time student discounts may provide teens incentives to stay safe on the road and make good grades.
· Enroll in Safety Courses: Insurers may award discounts for teens who pass safe driving courses. These courses can teach young drivers defensive driving techniques to reduce their risks.
Talk to your insurer about other ways to reduce your coverage costs for your teen. They can often help you set policy limits that are effective, but affordable.
Call The Nancy K Agency at 512-871-0864 today. We can help you get a fast, free quote on an affordable auto insurance policy.