Discounts for Teen Insurance
Turning 16 years old and finally receiving a driver’s license is a memorable moment in everyone’s life. The ability to drive gives teens a sense of freedom and independence — but it comes at a price. Since teens have had very little driving practice, they are generally more expensive to insure than adults. For a young person in high school, the cost of a vehicle, gas and car insurance can be difficult to pay with the relatively low wages of an after-school job. Fortunately, most auto insurance companies offer various discounts on teen auto insurance. Here are just a few of the discounts for which your teen may be eligible.
Good grades: The most common teen insurance discount is awarded for good grades. Most companies offer some version of this discount, which reduces a teen’s monthly premium based on grade point average. This discount offers two beneficial incentives: to do well in school and to save money on insurance.
Safe driving: As your teen continues to drive, he or she may be eligible for a safe driving discount. This is another common discount that can be offered to any driver who stays accident-free for a given length of time. It may take a few years to become eligible for a safe driving insurance discount, but the money saved will be worth the wait.
Driver safety programs: A driver safety course can help your teen better understand the rules of the road and proper driving etiquette. Since these classes can help reduce accidents, many insurance companies offer discounts to drivers who complete a driving safety course.
Multi-car policy: Insuring more than one car on an auto insurance policy is another way to become eligible for an insurance discount. The same bundling principle is true for multiple drivers: It is usually cheaper to add your teen to your existing insurance policy than for that teen to buy an individual policy.
When requesting an auto insurance quote, make sure to ask about the company’s teen insurance discount policy. It’s easy to forget that these discounts are available as you’re looking for online auto insurance quotes. If you or your teen is eligible for a discount, speak with your insurance agent to find out more.