Car Insurance Rate

How To Reduce Your Teen’s Car Insurance Rate

It’s not new to many that teenagers can end up paying a lot for car insurance. Or, rather their parents may be paying a lot more to add them to the existing policy. This is simply based on the statistical evidence that teenagers file more claims than other age groups. While you can’t change your child’s age, there are some things you can implement to help reduce the car insurance rate they are charged. Let’s take a look at what these options are so you can take note and starting implementing them to save yourself a bundle.

Picking The Right Car To Insure 

You can work on lowering the collision and theft part of your teenager’s car insurance policy by opting for the right kind of vehicle. You want one that is considered extremely safe, not regularly stolen, and not overly expensive to repair. By finding a vehicle that fits these standards, you can set your teenager up for a lower rate from the start.

Finding a vehicle that fits in all these categories isn’t too difficult. You should start by checking the Top Safety Picks, which are released by the Insurance Institute For Highway Safety. Next, you’ll want to head on over to the National Insurance Crime Bureau’s website to take a look at the most commonly stolen cars. Once you have your list narrowed down, it’s a good idea to call your Youi Cars Insurance adjuster. They will be able to run the prices of the different vehicles to find you the cheapest one.

You Need To Choose Driver Assignment Wisely 

Having a combined car insurance policy for the people in your home can offer many discounts. It’s important to realize that the insurance company is going to want to match each eligible driver on the policy with a specific vehicle. This is called driver assignment and they will base the price of the insurance for the vehicle on the driver that is using it the most. You want to ensure you match your teen driver to the vehicle that costs the least amount of money to insure.

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You can find a breakdown of your car insurance rates by the type of car on your monthly paper or electronic statement. Simply identify which vehicle is the cheapest to insure. When your adjustor asks you which vehicle your teenager will be driving, tell them the vehicle that costs the least amount of money to insure.

Look For Student Discounts At Your Provider

Many car insurance companies are now offering student discounts as part of their incentives. These are price breaks for students who consistently show high grades on their report cards. Most require at least a great of an A or B to qualify for the discount and proof of your teenager’s grades will be assessed often. Most providers will require a new assessment every time the policy renews. This is one way where you can encourage your teenager to help reduce the cost of their insurance.

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