Don’t Overspend on Your Teen’s Auto Insurance

Avoid these costly mistakes when insuring your teen driver.

If your teen is ready to set out on the open road, then it’s time to secure them the auto insurance coverage that they need.  Unfortunately, because teens are less experienced drivers and have a bad reputation for being reckless, auto insurers tend to charge more for their coverage.  However, many parents make other mistakes that can drive up the cost of their teen’s insurance even more.  If you do not want to overspend on your teen’s car coverage, then make sure you avoid making these mistakes.

  • Getting a Separate Policy

When securing insurance for your teen driver, you have the option to secure them their own policy or add them to your existing auto policy.  While getting them a separate policy will ensure that the premiums on your existing policy will not increase, insurance policies for young drivers carry high premiums because insurers consider teens more likely to get into an accident.  While your rates will increase when you add your teen to your policy, this move will actually end up saving you money in the long run.  Generally, the premium increase you experience will be less than the cost of securing a totally separate policy for your teen.  Additionally, adding your teen to your policy will allow you to access multi-vehicle discounts.  So, if you want to save on your teen driver’s coverage, your best option is to add them to your existing auto policy.

  • Failing to Use Discounts

Many parents do not realize that their teens can access special insurance discounts.  For instance, many insurers offer discounts for getting good grades, driving a car with driver and passenger airbags, driving a car with automatic seatbelts, driving safely for a specific period of time, and taking a driver’s education class.  When securing car coverage for your teen, speak to your insurance provider to learn about all the discounts you could qualify for and make sure that you take advantage of them.

These are some of the mistakes that you should avoid when insuring your teen driver.  Do you need help securing the right auto insurance to meet your needs and your budget?  If so, then contact the experts at Stromsoe Insurance Agency in Murrieta, California.  We are ready to assist you with all your car coverage needs today.