Ways to Save On Your Teen’s Car Insurance
If you have a teen in your Missouri home, you’ve probably been thinking about just how much it’s going to cost to insure them once they begin driving. Just the thought of your teen behind the wheel of a car may be frightening enough, never mind the possibility of higher premiums. There are some things you can do to help you save money on your teen’s car insurance premiums.
Car Choice Affects Premium
Your teen may want a speedy little roadster, but your premiums will be a lot lower if you put them in a car that is larger, slower and safer overall. Cars that cost less to replace if they are damaged are likely to cost less to insure, so keep this in mind when choosing a car for your teen. If you already have a spare car, be sure that it is the least expensive to insure before handing over the keys to your child.
Encourage Responsible Driving
Another reason you don’t want to give in to your teen’s request for a speedy car is the fact that new, inexperienced drivers are among the least safe drivers, especially if they are behind the wheel of a powerful, speedy vehicle. If speeding tickets and traffic violations aren’t enough to scare parents into giving their teens a serious talk about driver safety, statistics regarding fatalities among teen drivers should. Motor vehicle crashes are the leading cause of death among teens.
Set driving limits and enforce them. Limit the amount of time your teen spends driving at night, with other teens in the vehicle and the distance that they are allowed to drive, at least until you are fairly sure that they are safely following the rules of the road. Offer to drive them to or collect them from parties. Just because your teen has their license, it doesn’t mean you can’t still do the driving. A good driving record will have payoffs in the form of lower premiums down the road.
Ask About Discounts
Many insurers offer discounts to teen drivers for keeping their grades high. This could be a great way to encourage your teen to do well in school, especially if they are paying some of their premiums.
Other insurers offer a discount for anyone who takes a driver training course, some of which are offered in high schools across the country. These courses teach teens how to drive safely and how to react to other drivers, an important skill that could help them avoid accidents in the future.
Your own insurer will likely offer you a discount for combining policies that you have, such as your auto insurance and home insurance. Be sure to get new auto and home insurance quotes that include multiple policy discounts. This can help you reduce your overall premiums, taking some of the sting out of adding on a teen driver.
Using Technology to Save Money
Today’s parents have a whole new arsenal of technological tools to keep teen drivers safe and to reduce their annual insurance premiums at the same time. Some insurers offer discounts when a technology, such as a GPS-based monitoring systems, is installed in the vehicle to monitor speed, location and driving behaviors. Some technologies allow parents to set the maximum speed for a vehicle, while others display a verbal warning to teens who are driving recklessly. While the availability of these technologies varies, as does the cost, they are becoming much more common.
Even automobile manufacturers are seeking out ways to make driving safer, not just for teens, but for all drivers. Ford’s MyKey system allows parents to program the maximum audio volume, driving speed and use settings to promote seat belt use.
Parents have more opportunities than ever to save on car insurance for their teens. Speak to your Lake of the Ozarks area insurance representative to see which methods can work best for you and your family.
