The following is a post from Leona Jones. Consideration was received for the editing and publishing of this post.
When your teen learns to drive, it is usually a time of pride mixed with apprehension. You are proud of your child’s achievement, but at the same time, you are probably concerned about how buying additional car insurance for him or her will affect your family’s budget. While buying an auto insurance policy for younger drivers can put a dent in your finances, there are a few ways to save so that you can focus on your teen’s well-being behind the wheel, and not what it costs for him or her to be there.
Focus on Policy Details
Today’s top insurance companies compete fiercely in order to earn your business by offering special deals and driver discounts. While some of these discounts may ease the cost of auto insurance for your teen driver, it is wise to carefully read the details of each policy you consider. Understanding policy details and restrictions will prevent the shock of having to pay for something you thought your teen was covered for, especially in the case of theft, fire, or other severe damage. Meet with your local insurance representative to go over your policy before you make a purchase so you can thoroughly understand what it entails.
Seek Discounts but Avoid Cutting Corners
While you might be tempted by cut-rate insurance that gives your household budget some relief, it might come back to haunt you later. In many cases, dramatically low monthly payments often cost you in other places, such as when the policy comes with fine print restrictions on what your teen is covered for. Consider what you might have to pay out of pocket if your teen has an accident and what might happen if your bargain insurance cannot cover it, especially if your teen is at fault. To avoid this circumstance, seek out teen driving discounts from reputable companies and approach extreme bargains with caution.
Add Your Teen to an Existing Policy
One of the most effective ways to save money on auto insurance for your teen is to add him or her to your policy. This is typically less expensive than purchasing a separate policy, especially if your teen will be driving a car that is already insured. For example, if you will be lending your child the family sedan to visit friends, run errands, or to go to and from their part-time job, adding him or her to your policy can save you a few hundred dollars. If you live in the San Antonio area and want to find an auto insurance company that can add your teen to an existing policy, click here.
Look for Teen-Friendly Discounts
Some car insurance companies recognize accomplished teen drivers by offering discounts for those who have good grades or who volunteer to take a safe driving course. Teens who make the honor roll can earn discounts that can total 10% or more depending on which company carries their policy. In order to teach your teen driver responsibility and reward him or her at the same time, make their grades an integral part of driving privileges.
Remember that comparing policies, discounts, and restrictions can help you find the best deal when it comes to finding affordable auto insurance for your teen driver. It is wise to avoid jumping into any policy and to give yourself plenty of time to find one that will benefit both your budget and your child.