About To Have A Teenage Driver? 4 Ways To Keep Your Insurance Rates Affordable
You pride yourself on being a good driver. You do everything you can to keep your auto insurance premiums at an affordable rate. However, now you have a teenage driver and you're worried that your premiums will go through the roof when you add them to your policy. The good news is that your premiums don't have to skyrocket just because you're insuring a teenage driver. Here are four steps you can take to keep your premiums at an affordable level.
Increase Your Deductible
If you have a low deductible on your insurance policy, you may be paying more for your insurance. Now that you'll be adding a teenage driver, you may want to consider increasing that deductible.
The money that you save by increasing the deductible may be enough to offset the increase in your policy for adding a teenage driver. If you're concerned about paying the high deductible should an accident occur, you can start savings account. Leave just enough in the account to cover the deductible, should the need arise.
Reduce Coverage on Older Cars
If you're paying for comprehensive/collision coverage on an older model car, you may be wasting money. This is particularly true if the car has a low market value. You can reduce your monthly premiums by removing the comprehensive/collision coverage on your older car.
Encourage Good Grades
Once you've made all the necessary changes to your policy, there are some things that your kids can do to help reduce the premiums even farther. This is where good grades come in. Now that your teenager is going to be driving, it's time to start rewarding good grades. Many insurance companies provide discounts for teenage drivers that maintain good grades in school.
Enroll Your Teenager in a Defensive Driving Course
Before your teenage driver starts driving your car on a permanent basis, you should enroll them in a defensive driving course. These courses provide behind-the-wheel training in how to avoid accidents, as well as how to drive in inclement weather. Most insurance companies provide discounts for the successful completion of defensive driving courses.
You want your teenager to drive. You also want to save money on your auto insurance. Luckily, you can do both. The information provided here will help you insure your teenage driver for less. For more helpful tips on how to reduce your insurance rates, be sure to speak to your insurance agent. To learn more, contact an auto insurance company like LA Insurance.
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