Adding a teen driver to your car insurance policy can make your rates go up quickly; since new drivers can pose a risk to the insurance carrier, they may charge a high premium to reflect this. But there are several ways that you can lighten the load and keep your rates under control.
Start Them Out Small
The first thing to consider is starting your new driver out slowly with their new car responsibilities. Start out by placing them on your own car insurance plan and see how they do. You may be reluctant to let your student drive your own car, but it's a great way to supervise them and make sure they're a safe driver before investing in a vehicle.
When it's time to get them a car of their own, opt for a used car; these often have lower insurance rates, and they also won't depreciate as quickly if there are minor collision dings. Once your driver has proved that they can handle the responsibilities of the road, then you may opt for a long-term car and insurance plan to match.
Look Into Training
Another thing to look into is driver training programs. Not only will you help to keep your teen safe on the road, but you can also take advantage of good driver programs. Look for car insurance companies that give a small discount for teens who have gone through a hands-on driver's training program.
Earn Some A's
Some companies also offer lower rates to students with great report cards. If your teen is on the cusp of having all A's and B's, then you might want to incentivize them to work on their report card before getting insured. For instance, you could offer to split the difference with them on the money you'll save from the good student discount.
Shun the Extras
And finally, you can save money on your new driver's insurance by cutting out some of the extras that you might have in your own plan. Minor collision repair is a big one to consider cutting, so comb through the plan to look for any cosmetic benefits that you can cut.
Having a teen driver to insure doesn't need to equal a major jump in your insurance rates. If you are able to apply these tips and find a car insurance carrier that's flexible in accommodating new drivers, you might find a great deal on teen car insurance. Contact a company like Horizon Insurance Brokers Limited to get started.Share