Shopping for the Best Deals on Teen Auto Insurance
Let’s face it, if you are a teenager, finding affordable auto insurance can be difficult. Teenagers are very likely to get into car accidents, thus increasing the rates for teenagers significantly. However, there are ways to lower the cost of auto insurance for teenagers that you may not know about.
[ READ MORE: How to Choose a Vehicle Right for You ]
Get Good Grades in School
Many teenagers don’t realize just how important getting good grades in school is. Even if your teen isn’t planning on attending college, many insurance providers give discounts for students maintaining at least a B average.
Consider Getting Added to Parents’ Plan
Adding a teenager as part of an umbrella or family plan can save teenagers lots of money on car insurance. Many providers won’t raise the premium until the teenager gets their license.
If you decide to go this route, make sure that you notify the insurance provider of the addition. Masking the addition can impact coverage for everyone on the plan. Some providers will charge you for the extra time with additional fees while others will refuse to provide coverage if there is a dispute. Not only that, but until the teen is paying for coverage, they are also driving illegally. If they are caught without insurance, they may end up with fines, license suspension, and jail time among other consequences. Overall, don’t try to hide the teen if you choose to add them to the parents’ plan.
Insurance providers typically charge a higher premium to cover vehicles that are common targets for theft and vandalism. This includes luxury, performance, and new vehicles.
However, many new vehicles provide more advanced safety features, such as an anti-theft system and airbags, that can also lower the premium. Since not every old car can provide that level of safety, it may be better to get a vehicle that is newer and loaded with more safety measures. Of course, this creates a weird grey area that makes choosing the correct route difficult. To better understand your potential rates with various types of cars, talk with your insurance agent.