Buying best car insurance for teenagers

Buying best car insurance for teenagers

Car insurance is high for teen drivers.  Car insurance companies charge more than the double the amount for  teen drivers. It  is difficult to find a cheap  car insurance policy for teenagers. 

We recommend you to explain the rules and responsibilities of driving to teens and also about the safety measures of driving because safe driving and clean driving records help to reduce the premiums of car insurance for a teenager.

It also guides the teen drivers that driving can be dangerous when you are unable to concentrate. MyMoneyMyquotes team provides some tips to find the cheapest car insurance for teenagers.

Adding a teen driver in an insurance policy: 

Your  car insurance rates go up by a few thousand dollars by adding a teen into your car insurance policy. Because companies found teens riskier than young or old drivers, they charge higher car insurance premiums.

Car insurance for teenagers is more expensive when they buy their insurance policy. 

According to some insurance companies before including a teen into an insurance policy you should keep the following things in  mind:

Finances

Before adding a teen into your car insurance policy you should know that you and your teen will be able to pay the premiums of car insurance, who will make payments for the car, and a car which is best for you according to your budget.

 Readiness:

You must know that your teen has knowledge of the rules or guidelines of safe driving. Your teen has no record of violations for the past 5-6 months. Before permitting driving a car it is a good idea to sign a parent-teen driving agreement which states that teens are ready for driving responsibly .

 Involvement:

You should involve your teen in the process of purchasing a car as it helps a teen to understand the cost of the  car and other responsibilities of driving a car and the cost of insurance..  

When you should add a teen driver in the car insurance policy?

Different companies follow different guidelines for car insurance policies with teens. Some companies say that if a teen has completed a driving course then you can add your teen in an insurance policy. On the other hand, some believe that you should add your teen to an insurance policy when your teen gets a driving license. Before applying insurance policies you should need to check the rules for adding a teen in a car insurance policy by different insurance companies.

You should contact your insurance agent for guidance regarding adding a teen to your insurance policy. An insurance agent can provide you the cost of insurance, and the process of including a teen into a car insurance policy.

We recommend that you should compare insurance quotes from different companies to find the cheapest car insurance for teenagers by using tools like MyMoneyMyQuotes.com. Various companies provide the insurance discounts for teenagers. Some insurance agents provide discounts to teen drivers such as discounts for those who have completed the defensive driving course and for those who stay away from their home for while pursuing studies. 

Some insurers provide multi-policy discounts to parents if their teen is the owner of any car. These  offers encourage parents to add teen drivers in their insurance policies.

There are various discounts provided to the couples with teens on car insurance policy by insurance companies such as Geico which provides  lower insurance rates for teen drivers through their parent’s insurance policy under the Family Pricing Program.

We suggest you compare auto insurance rates from  different car insurers to select the best car insurance policies for teens.

Car insurance cost for teenagers:

Adding a teen in your car insurance policy increases your car insurance premiums to a greater extent. Insurance companies found teenagers riskier than another age group of drivers. 

According to the data gathered by the Centre for Diesel control, the major reason for the death of teenagers is motor vehicle accidents. According to this data:

  1. In 2016, nearly 2500 teens died in the USA due to car accidents.
  2. Around 3,00,000 teens get injured due to motor vehicle accidents.

In the USA 7-8 teenagers of age between 16-19 die every day and approximately 100 get injured because of motor vehicle accidents.

Most of the accidents of teen drivers happened because of distraction. There are distractions like using phones, chatting, loud music while driving which leads to an accident.

Squeezing out an auto insurance savings:

You can cut down the car insurance cost in different ways. You can also add your teens to your insurance policy to get some discounts from insurers.

You can get a discount on the insurance policy if your teen is a high school or college student with B grades or more. For this, you need to show a transcript of  grades to get a discount. 

These discounts are also applicable to homeschooled teens with good grades. You can get this discount on different policies such as personal injury protection, liability coverage, collision coverage, comprehensive coverage, property damage liability, medical payments, bodily injury liability.

Different companies offer different types of discounts based on different conditions such as mileage driven by the  teen’s car. To reduce the financial damage you should be allowed a teen driver to the least expensive cars in the family.

Before purchasing a car you should contact your car insurance agents to get information about the car insurance rates based on the kind of car. Because some types of cars are riskier such as sports cars, so insurers charge higher rates of premiums for car insurance. You can also reduce car insurance costs by increasing the deductibles. Some insurers offer ‘safe driver’ programs to their customers. For participating in these programs, then there is a requirement to sign the parent-teen agreement which means that your teen is ready to drive a car alone responsibly. 

Some insurers provide Drive wise app facility which helps to cashback on the purchase of insurance policy. These apps also provide feedback to the drivers regarding the speed of the vehicle and the regulations of driving. This helps to cut down the cost of car insurance.

You must review the auto insurance quotes because discounts change with time. Purchase a higher amount of liability coverage because minimum liability coverage is not sufficient to cover your teen. 

When the cost of damages may exceed the minimum if the teen is at fault, then you are responsible to pay for the damages and you may be sued for the amount which is not covered under your policy. Liability coverage helps you to save a lot.

Adding a teen in a car insurance policy may increase insurance premiums but you save on your car insurance by comparing quotes from different insurance companies using tools provided by MyMoneyMyQuotes.com

Finding a good price for an auto insurance quote can be quite overwhelming and confusing for many. Understanding your car insurance coverages and finding a cheap car insurance quote can be a very time consuming and complex process. At MyMoneyMyQuotes.com, consumers can shop and compare auto insurance quotes online for free and find the best and cheap rates for their coverage needs for an auto insurance policy. 

MyMoneyMyQuotes.com helps our consumers make a more informed and sound decision by providing important information and guiding them through sharing key points as it relates to auto insurance quotes and policies.

MyMoneyMyQuotes

MyMoneyMyQuotes

One thought on “Buying best car insurance for teenagers

Leave a Reply

Your email address will not be published. Required fields are marked *