Last week we covered the “The 5 Most Inexpensive Cars to Insure”. So this week we thought we would keep the momentum going with six ways you can save money on your teen’s driving insurance.
For many parents having a teen learning to drive will not only take a toll on their nerves but it can take a toll on their wallet. Adding a teen to your insurance policy can cost you hundreds of dollars each month, even if your teen has a clean driving record.
So, the question stands: How can you keep your insurance rates down once your teen starts driving?
- You can delay driving. While your teen may not love this and it may not be as convenient for you, you could save some green if your teen waits to take their drivers test until they are 17 or 18. (However, they can certainly get their permit and practice drive with an adult in order to be “tuned” up to drive alone once they get their license.)
- Good grade =’s better discounts. A lot of insurance companies offer a pretty good discount in exchange for your teen’s good grades. Not only does this save you money, but it keeps your teen motivated to stay on track in school. (link to the discount driving series)
- Discounts for driver’s ed. We can help you with this one! Teens who take a driver’s education course will likely qualify for additional insurance discounts. Click here to learn more about our Parent-Taught Driver’s Education Curriculum. (Link to PTDE)
- Technology. Some insurance companies give you a discount for using an app or a device you place in the car that measures, speed, breaking and other variables while driving.
- Make your teen pay for it. If your teen wants to take on the responsibility of driving a car, they can also contribute to the cost of it! Not only does this help you save some money, but it shows your teen that in order to own a vehicle they need to be responsible for all aspects of it, including insurance payments.