Save Money On Your Teenager’s Car Insurance

You passed! Good luck with spending half your wages on car insurance!” – unknown parent

Is it time to turn over the keys to the car to your new teenage driver?

Getting behind the wheel for the first time is an exciting experience for any teenager. (And a little bit scary for the parents.) However, the excitement of newfound freedom can come with a hefty price tag: car insurance.

Why is teenage car insurance expensive?

Teenage drivers often face high insurance premiums due to their lack of driving experience and a higher likelihood of accidents.

But fear not! With a little know-how and some smart strategies, you can navigate the maze of teenage car insurance and save some money in the process…

How to keep the premiums low…

1. Take Advantage of Discounts: Many insurance companies offer discounts for teenage drivers who meet certain guidelines. These can include…
   • good student discounts for maintaining a high GPA…having a B average or higher
   • completion of a defensive driving course
   • installing a tracking device in the car to monitor driving habits.
   • Make sure to ask about all available discounts when getting quotes, because they can add up to significant savings.
2. Consider a Higher Deductible: By choosing a higher deductible, you can lower your monthly premium.
   • Keep in mind that you’ll have to pay more out of pocket in the event of an accident. But, if you’re a responsible driver who rarely gets into accidents, this can be a smart way to save money over time.
3. Choose the Right Car: The type of car your teenager will be driving can have a big impact on your insurance premiums.
   • Generally, older cars with lower market values are cheaper to insure than newer, more expensive models.
   • Also, cars with good safety ratings and anti-theft features are often eligible for lower insurance rates.
   • Before purchasing a car, research its insurance costs to avoid any surprises.
4. Bundle Policies: If your family has multiple vehicles or other insurance policies, such as homeowners or renters insurance, consider bundling them with the same provider.
   • Many insurance companies offer discounts for bundling, which can result in significant savings on your overall insurance costs.
5. Drive Safely: This may seem obvious, but impress upon your teenager that maintaining a clean driving record is one of the most effective ways to keep your insurance premiums low.
   • Avoid speeding tickets, accidents, and other traffic violations, as these can cause your rates to skyrocket. Safe driving not only saves lives but also saves you money on insurance.
6. Limit Coverage When Possible: While it’s important to have adequate coverage to protect yourself, your teenager and your vehicle, you may be able to save money by opting for lower coverage limits or dropping certain types of coverage altogether.
   • Just make sure you understand the potential risks and consequences before making any changes to your policy.
7. Talk To Your Insurance Provider: The best rule of saving money on car insurance, is to talk with your trusted insurance provider. He or she can help you figure out what your best and most cost effective options are.

While the idea of teenage car insurance may seem overwhelming, it is possible to find affordable coverage with the right approach. By following the above suggestions, you can keep your premiums manageable without sacrificing protection, so you can relax a little when your teenager hits the road.

At Whitcomb Insurance, we care about your future, and we would be happy to sit down with you, answer any questions you might have, whether it’s about auto, homeowners, small business or life insurance. You can count on us to be totally honest and upfront with you!

Along with great insurance options, we also offer Financial Services. You can count on us to be totally honest and upfront with you!

You can Contact Us here, or give us a call at:

(425) 391-8731