Getting a driver's license is a milestone in the life of most teens, but as a parent you may cringe when thinking about adding your teenage to your insurance policy. Teens are typically considered a high risk to insure, so whether you're allowing your teenager to drive one of the family cars or he or she will have his or her own car on your policy, you can expect rates to go up. Luckily, there are several things you can do to keep premiums from being sky high. Use the following tips to save money on your auto insurance when your add your teenage driver to the policy:
Have Your Child Take a Drivers Education Class
Extensive driving training is a great way to help ensure your teen is ready to hit the road and operate a vehicle on his or her own. As a parent you should spend ample time helping your child learn how to drive safely, but it is also important to have you teen enroll in a drivers education course. These courses are often offered as an elective in high school, or you can opt to have your teenager take a course through a private company.
In addition to educating your child about important driving rules and laws, many insurance companies will provide a discount for teens who successfully complete a drivers education course. You may have to provide a copy of a report card or a certificate of completion in order for your child to qualify for the discount.
Make Good Grades a Priority
Most parents want their teens to get good grades in high school — education is important, and success in high school can help a teen get into a good college. But good grades can also equal a nice discount on auto insurance premiums with a teen driver on the policy.
Many insurance companies view good grades as a sign that a teen is responsible and may take more care when driving which lowers the risk of insuring him or her. Contact your insurance company to inquire about this discount and find out what their minimum grade point average is to qualify.
Have Your Teen Drive a Sensible Car
Auto insurance premiums are often calculated based on the value of a car, the safety features that it has, and the perceived level of risk of the covered drivers. When it comes time for your teen to get a car, it is in your best interest to steer him or her towards a quality used car that is several years old, has as many air bags as possible, and an alarm system. In addition to knowing that your teen is driving in a safe vehicle, you can also feel good about the fact that you're saving money on your auto insurance.
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