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March 23, 2015

Ways to Save Money on Teen Auto Insurance

Ways to Save When Adding a Teen to Auto Insurance

One thing you can count on 100% is that when you add a teen driver to you auto insurance policy, your premium will go up!  With that in mind, here are a few tips to keep that additional premium from breaking the bank:  

1) Choose Your Teenagers Car Wisely
Most teenagers dream of having a sweet sixteen birthday with a NEW convertible or sports car waiting for them in their driveway. Resist the urge to fulfill their dreams and save that extra money for their college.  The most economic choice for a teenage driver when it comes to insurance premiums is an older four door sedan. The “cooler” the car, the more expensive the insurance premium will be, by having the teenagers primary vehicle be a Ford Fusion or Honda Accord type car you will save hundreds.

2) Take Advantage of Discounts 
By utilizing every discount available for your teenage driver you will help bring the premium down. The most common teen driver auto insurance discounts are; A good GPA discount (usually at least a “B” average on report cards), low travel miles (the insurer takes into account teen drivers don’t drive very far), and if the teen driver has participated in a driver safety course and passed.

3) Keep All Household Policies Together
Most companies give a multi car discount for auto insurance and an additional discount if you have your home insurance with the same company.  By adding your teen driver to this policy you will be able to offset some of that additional premium with the above listed discounts.  Although, It is always good to comparison shop, in some cases it may be cheaper to set up an individual policy for the teen and list him as an excluded driver on the parents policy. Typically, this only makes sense when the parents drive a vehicle with a high insurance premium, like a convertible Camaro. 

4) Maintain a Good Record
Be sure to let your teen driver know how important it is to keep a clean driving record, and how much it impacts insurance premiums.  This is a good lesson for the teen to understand not just to help keep the family premium down but to keep their premiums down when they move out and have their own policies.  Make sure they have a solid understanding that DWIs / DUIs, reckless drviing, etc. are 100% preventable and can have devastating outcomes.

These Tips Can Add Up to More $$ Staying in Your Pocket

By researching your auto insurance options, the type of car your teenager drives and, taking advantage of insurance discounts you should be able to keep the additional premium manageable.

Give Wessell Insurance Services a call to get a quote for your teenage driver today 1-866-663-7561. 

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