No one looks forward to their teen being able to drive but we have to face the fact that it is going to happen someday, and when it does, they need to not only be ready for the responsibility, but the cost as well. Even the state minimum auto insurance can be extremely expensive for teenager due to their accident rates being extremely high, which is exemplified by the fact that automobile crashes are the leading cause of death for young Americans. For this reason, you will see that insurers charge higher rates for teenagers than any other group, so taking advantage of teen discounts is critical. So, what kind of discounts are there, and how do you lower the cost of Florida auto insurance for a teenager?
#1: Study Hard and Use Good Grades to your Advantage
Part of getting a lower rate is proving that you can handle the responsibility of an automobile, which is certainly something that you can do through academics. Students who consistently keep good grades can significantly lower their car insurance costs whether they are in high school or college. In order to qualify they will need to be enrolled in one of the following:
- Full-Time High School
- Full-Time College
- Academic Home Study Program
In addition to being enrolled, the student must meet at least one of the following requirements:
- B+ or Higher Average for All Subjects Per Semester
- Dean’s List
- Honor Roll
- Upper 20% Ranking on one Standardized Test
#2: Save Driving Courses Can Cut Down on Costs
If a teen has been enrolled in and has completed a safe driving course, there is a good chance that they will be eligible for a much lower rate. Safe driving courses are often offered by insurance companies, but you can also find third party companies that will be more than happy to educate teens on the dangers of the road. Before attending one of these courses, the teen should check to make sure that it is accredited and approved by the insurance company. Once finished, they can present their certificate of completion for a significantly reduced insurance rate.
#3: Distant Discounts for Teens
A teen isn’t always necessarily a child; once they graduate from high school any number of things can take place, but generally they will be moving away from home, perhaps attending college. You should check with the insurance carrier to see what discounts could be obtained for children who have moved away and are studying for their future. The expense of school and other items will make a price drop in insurance coverage preferable, so don’t put this one off.
#4: Consider an Older Car
Most teens would love to drive a flashy sports car, but you know as well as we do that it can significantly drive up the cost of insurance. If they wreck it, they could cause a massive insurance claim, and that would not be profitable for the insurance company. An older car can definitely save a few bucks, but you should also consider that newer cars have their own cost savings mechanism built in. For example, they can have newer safety features and more advanced systems that will keep the vehicle on the road.
#5: Use Technology to Lower Rates
Here in the 21st century we have a wide range of devices that can be used to ensure the safety of teen drivers, for example, devices that can keep an eye on their driving habits. Drivers who are able to meet certain standards, or benchmarks, could be eligible to save a certain percentage on their premiums, giving them a significant advantage on price.
These five methods are simple, but they can go a long way toward helping a teen save a significant amount of money. Ask us for more information and to get your teen on the road legally.