If you are seeking out auto insurance for a teenager or even AS a teenager then you already know that it can become prohibitively expensive. The big question that many people ask is whether or not they can mitigate that cost a bit and give themselves a break. The answer is yes, but first it is important to look at the actual rates. Adding a teen driver to a policy can add an extra $1200 per year depending on the state, the area, and the insurer.
So, with that being the case, it is crucial that you start looking for discounts wherever you can find them. Pearl Holding Group insurance will always recommend that you look in the most obvious places, and then start to look into the minor actions that can really help you to get some discounts. Don’t worry, the discounts are there, and while they can change drastically depending on the company, you could find yourself saving up to 25%, which is nothing to be dismissive over.
The Art of Saving Money on your Teen’s Car Insurance
There are a few ways that you, as a parent, can save some serious money on your teen’s car insurance. Let’s go ahead and take a look at some of the most popular:
Add the Teen to Your Own Policy
Every teen wants to be ‘out on their own’, so to speak, but when it comes to getting car insurance they are better off sticking with their parent’s policy. Pearl Holding Insurance will gladly tell you about the benefits of adding your teen as there are numerous discounts available and it makes the entire affair much more affordable. Eventually, your teen will need to strike out on their own and get their own insurance policy, but maybe not today.
Consider Upping the Grades
Everyone likes good grades, and a student can actually manage to obtain cheaper insurance if they DO have good grades. Most insurance companies will consider A’s, B’s, and C’s as good grades, so do keep that in mind. There is a strong chance that the company will not take the teen at their word, so make sure they keep a copy of their report card handy.
Driver’s Ed Saves Lives
Driver’s education courses are great for teenagers and those who take them are less likely to break the law while on the road. This means that they are less likely to have an accident, and less likely to even get a ticket. They will also be less likely to be involved in any accidents that could cause injury or death. The right education can take them a long way in life, but it can also help them to receive amazing discounts. It can be expensive to take the course but it is worthwhile in many different ways, as you have already guessed.
Make the Right Decision
Getting the right insurance for your teen can be difficult, and making sure that they have the best discounts can be even more of a task. If you live in a state like Michigan, for example, you will find that your insurance is very expensive, let alone a teenager’s. It is critical that you do everything you can to mitigate the cost. The three items that we mentioned above can be very harrowing for any teen to achieve but they are well worth the effort. Now would be a great time for your teen to consider one, or all three of them, giving your wallet a break and their education a boost.