Best Insurance Group, LLC Blog
For most teenagers, owning a driver's license is their ticket to adulthood. If you are a parent planning to add your teenage driver to your car insurance, prepare yourself for increased premium rates. A 2020 study by coverage revealed, adding teens to your insurance increases it by 130%, Like for a 16-year-old teen.
Insurance companies consider teen drivers as among the "riskiest" groups to ensure. The Centers for Disease Control and Prevention research shows: drivers aged 15 to 19 years old are four times higher to crash than their older ones.
These figures are enough to discourage you from adding your teenager to your car insurance as a parent. Don't fret because here are some ways you can get some savings on your car insurance. If you are planning to add a teen driver to your premium.
Good Grade Discount
If your teenager has a good grade point average in school, they may qualify for a good grade discount. Your teen driver should maintain at least a B grade point average to be eligible. Bring your child's report card when you apply for a driver's license. You can get up to a 25% discount a year if the teen driver maintains their good grades.
Defensive Driving Course
Enroll them in a driver's education program. Yan saves you up to 15% on your annual premium. Insurance companies offer discounts for teens who take and complete defensive driving courses. You can get more deals by ensuring that your teen will maintain a clean driving record.
Find The Right Car
He or she drives a separate car, buy them an older model that is affordable so you can forgo the collision and comprehensive coverage. Don't buy them a sports car as it could add to your insurance rate. Ensure that the vehicle has the standard features such as airbags or has safety features like anti-lock brakes and anti-theft devices.
Buy A Separate Policy
Sometimes buying them separate car insurance may be more cost-effective for your teen. Insurance companies usually assume they will be driving the family car from time to time. The firm may charge a high insurance coverage for all vehicles. But adding your teen's vehicle may make you qualify for a multi-vehicle discount.
Adding a teen driver will surely increase your car insurance rate. Considering these tips will help decrease the cost by a few hundred dollars.
At Best Insurance Group, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (970) 674-5000 or get a free quote by CLICKING HERE.