If you’ve been shopping around for young driver’s car insurance, chances are you’ve had a heart attack or two from sticker shock. Adding your teen to your policy can significantly increase your monthly premium, sometimes even doubling it.
And if your child is under 18, there is no other option but to add him to your policy. But before you take away his driving privileges there are several things you can do to reduce your car premium, with your teen’s cooperation of course.
1. Clean Driving record
It’s absolutely imperative that your child maintains a clean driving record. This means no moving violations, speeding tickets or drinking and driving. Being convicted of an alcohol related driving incident can increase your premium anyways from 70% to 250%. That’s up to two and half times your current premium! Ensure he stays safe and doesn’t drink and drive.
2. Drivers Education Discounts
By completing a driver’s education course your child may be eligible for a discount on young driver’s car insurance. Online websites like driversed.com offer a convenient way to complete a driver’s education course without having to leave home and you may save up to 10% on their insurance premium. Be sure to check with your insurance company to see if they offer a discount for a particular course before you have your child take it.
3. Community Service
Insurance companies are looking for proof that your child is responsible and not a risk behind the wheel. One factor that some insurance companies look at is whether they have participated in any community service activity. Perhaps they have volunteered in a highway cleanup project or with a charitable organization like the United Way. If not, now might be a time for him to do so and get some extra credit that can lower your young driver’s insurance premium. As a bonus the activity will probably look good on his college application too.
4. Cheaper Car
The more expensive the car, the higher the young drivers insurance premium generally is. This is because a flashy red sports car is more likely to be involved in an accident and is more expensive to repair than a standard compact sedan like a Honda Civic or Toyota Corolla. Yes, it might not be your teen’s dream car but it’s a more practical option, especially if you’re footing the bill. Other popular and practical options include the Mitsubishi Lancer, Nissan Sentra and Ford Focus.
5. Safety Features
Many safety features qualify for additional discounts when it comes to car insurance premiums. Many of these are standard in most newer model cars like anti-lock brakes, automatic seatbelts and air bags. If your teen already has a car it might be worthwhile to check with your insurance company as to which features qualify for a discount and then install one or more of them. Not only will your child be safer but you’ll save money in the long run.
Young driver’s car insurance is not cheap. But by following some of these suggestions you’ll know you’re getting the best deal possible. Be sure to get quotes from multiple insurance companies to ensure you don’t pay more than you absolutely must.