Adding a teenage driver to your auto insurance policy has dramatic affect on the premium. But there are things you should know that will help reduce those costs. Each insurance company is different, so be sure to consult your insurance agent for underwriting rules and discounts. The following tips are only general in nature.
- Good Student Discount – If your son or daughter is a full time student and has a 3.0 current, or cumulative, GPA and is under 25, they my qualify for this discount.
- Driver Training Discount – If your child has taken driver’s training, copy their certificate and forward it to your insurance company to receive this discount. Children will listen to professionals teach them better than they might listen to their mom and dad. And the added driving knowledge and experience from a training class could possibly save their life.
- Distant Student Discount – If you have a child going to collage over 100 miles from your home and they are not taking a vehicle, they may qualify for this discount. This way they will be covered driving your vehicle while they are back at home during the school breaks.
- Student away at collage – If your child is away at collage, as a full time student, with one of your vehicles, they and their vehicle can remain on your policy even if the collage is out of state. This isn’t a discount but could save you a lot of money compared to purchase a separate policy for them alone. This allows them to take advantage of the multi-car discount.
- No tickets or accidents – Except for the obvious pain that comes with a ticket or accident, all household drivers need to try to keep your records clean especially while there is a youthful driver in the house.
- Ask for an insurance review – Adding a youthful driver to your policy is an important time to review all your coverages and discounts. You might fine you could drop some coverages you don’t need and save money. You may also want to consider increasing your liability limits or adding an umbrella liability policy with the added risk of a youthful driver. This might add to your insurance costs but losing your house in a lawsuit because you were under insured on your liability limits would be more devastating.
- Insure through an Independent Insurance Agent– Independent Insurance Agents can quote your auto insurance with several insurance companies to find you the best rate now that you have a youthful driver. Elkstone Insurance Group, Inc. is an independent insurance agency and we could help find you the insurance company that fits you best. Paying auto insurance for your new youthful driver can sometimes be a shock if you are not prepared. Call Elkstone Insurance Group, Inc. to help alleviate the pain of high premiums on your youthful driver.