Do you have a
teenage driver (or one on the way)? Back to school time is a great
opportunity to think about car insurance savings!
Having a teenage
driver can be stressful. You worry, first and foremost, about
their safety and then about the costs. And there are a lot of costs! Things like purchasing an additional vehicle, getting
licensed, and paying a little more for insurance.
Fortunately, you
still have options.
First you want to
think about the vehicle your teen will be driving. Premiums are higher on vehicles with comprehensive and
collision coverage, which pays to fix your vehicle after an accident. When you have a car that has only liability insurance
(which pays only for damage your driver does to someone else’s
car), you pay a lot less.
If you are
purchasing a car for your teen and need to watch your budget, consider buying
an older reliable model for cash that will not require comprehensive and
collision coverage. We can help you weigh the cost and the
risk to see if it is a good option for you.
You also want to
take advantage of all available discounts. These vary by policy but typically
include a discount for driver's education and one for having good grades. With school about to start, it's a great time
to setup an incentive plan with your teenager to make sure they keep those
grades up and your premiums low!
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