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Ways To Cut Insurance Costs For Teen Drivers

by host on Tuesday, October 18, 2016 7:47 PM

With driving becoming a rage among teenagers today, the number of accidents is also on a rise. That is why, having an insurance is must. It helps to save money on the repair costs and provide protection to the expensive vehicle.


The insurance companies charge a higher premium for teenagers as their chance of getting involved in accidents are much higher. However, having through knowledge about certain parameters can be quite helpful in reducing the insurance premium.


Listed below are some factors which can help to cut down on the insurance cost:


Encourage Children To Get Good Grades


High grades not only help to improve academic performance but also avail huge discounts from various insurers. Most of the insurance agencies offer a ‘Good Student’ discount to teenagers. The child needs to secure at least a B average or better to qualify.


Make Use Of Multi-Policy Discounts


Rather than going for a single policy, it’s better to opt for multiple insurance such as home, life, auto etc. from the same insurance agency. This will give an added advantage of availing more discounts overall. You can always opt for umbrella policy which can help to provide added protection. This is a good option of saving money on the huge insurance costs.


Do Some Shopping


Purchasing insurance is not an easy decision. Before settling on one insurance agency, it’s better to do a little homework and make a list of all the agencies offering insurance. This can help to refine your search. You can compare the costs and zero-in on the cheapest one. You can even read reviews or seek recommendation from your friends to choose the best insurance company.


Invest In A Safe Car


Teen drivers should be given a car that has a wide range of features such as airbags, anti-lock brakes, blind-spot detection system, electronic stability control etc. This can not only provide safety to them but also lower insurance premium. Also cars having anti-theft and engine cut-off systems are less likely to be hit or stolen than those that lack such features.


You can get an additional discount on your vehicle if it is driven less. This is because the likelihood of accidents decreases in this case.  


Raise The Deductibles


Deductible is the amount of money that needs to be paid in the advent of any loss. Choosing a higher deductible can help to reduce the insurance premium. This will prevent filing of the small claims.


Take Up A Safety Course


Teenagers who are enrolled in a driving course may get eligible for lower car insurance premium. Since a responsible and attentive driver have less chances of causing an accident, it minimizes the chances of filing a claim. On the other hand, violation of driving traffic rules can increase the insurance premium. So encourage our kid to take up a safety course and reduce your insurance premium.


Choose The Right Car


It is important to choose the right type of car for your teen. The vehicle’s make and model, engine capacity etc. are some of the crucial factors that determines the insurance cost. Also getting insurance for an old vehicle can be beneficial for your teen. Since cost of repairing can be much more than the actual cost, insurance companies usually charge a lower premium for such vehicles. Another reason for getting an old car is that the teens are likely to get involved in accidents.


For parents who are worried regarding their teens’ driving habits and are looking for tips to lower their insurance costs can consider the above mentioned ways. It can surely help to choose the best insurance policy within your budget. Make sure you read the policy carefully before signing the final agreement.


We, at Smith-Reagan Insurance Agency, offer comprehensive insurance to the people of McAllen, TX. The agents help to lower your insurance cost by offering various discounts. For more information, you can call us at (956) 399 – 1353.


The auto insurance policies provided at Smith-Reagan Insurance Agency are specifically tailored for each client in San Benito and McAllen, TX

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