Your son or daughter has talked about it forever – the day they finally get their driver’s license. But with that new independence comes some big expense. Make sure you are properly insured.
Of course there will be in increase when adding your newly licensed driver. The increase may depend on the gender of your new driver. For parents of drivers in their teens and early 20s – there is some hope. Insurance companies do typically offer a variety of discounts that can help reduce the bottom line.
- Study, Study, Study
If your teen driver is a good student you may qualify for discounts. Many insurance companies will offer discounts if your student has a 3.0 GPA or higher or ranked in in the top percentile of his or her class.
- Take A Safety Course
Your insurance carrier may offer discounts if your teen participates in a driver safety course. This may be a formal driver’s education course or it may be a course offered by your insurance carrier directly. Check out the link here, http://www.teensmartdriving.com/ or click on the photo above. “teenSMART drivers are safer, more skilled, incur fewer accidents and injuries, and file fewer insurance claims.”
- Invest in a safer car
A car with extra safety options and higher ratings may reduce your premiums. Additional safety options, such as daytime running lights, blind-spot detection system, and electronic stability control, can offer additional discounts. Once you’ve identified the safest vehicles and technology, confirm with us whether these will reduce your insurance costs and by how much.
- Buy an older car
A rule of thumb, an older car is usually a less expensive insurance option for your teen driver. Newer vehicles generally cost more to insure so there could be some savings if your son or daughter isn’t driving the family’s new luxury sedan. Do some research and check with us before you buy an older car.
- Do your homework
While your son or daughter is focused on studying for those good grades, you may need to do some homework as well. Give us a call and let us shop for you. You may be able to get a better rate by shopping for new auto/home or renters insurance. You may not necessarily get a less expensive rate for your teen driver, but you could knock down auto premiums by switching companies – allowing you to offset the additional costs. As an independent agency, let us compare costs for your family.
- Talk with us about your current coverage.
See if your current plan including coverage, works for your family. Do you have adequate deductibles, do you have AAA. Clients with AAA, should contact us. Many insurance carriers, provide additional endorsements for your auto and home policies if you are a AAA member.