There may be no more exciting rite of passage than the day you receive your driver’s license. Sure, being able to legally vote or drink in a bar in this country are both fantastic rights, and true benchmarks on the path to adulthood. But as with every generation since the first cars rolled off of the assembly line, the driver’s license is the key to real freedom. You can now get yourself from point A to point B without a ride from your parents, which will certainly help your dating life. But while driving is an incredible experience, affording the exorbitant rates insurance companies charge teen drivers leaves quite a lot to be desired. Teenagers are considered ‘high risk’ drivers, as they do get into more car accidents than any other demographic. But that doesn’t mean you have to settle for ridiculous monthly payments. Here are a few ways to help lock down cheaper rates on car insurance for teenagers.
First off, look for discounts by linking up with your parents’ insurance provider. Most of the time your parents can add you as an additional driver on their policy. And though their rates will go up it won’t be nearly as expensive as if you got your own policy. You can pay the difference, and everyone will be happy. Also, if your parents have been with the same insurance company for a while there may be other benefits. See if the company offers discounts for handling multiple types of insurance, or if there are discounts for getting good grades in school. Any of those benefits can bring that insurance policy back down to earth.
There are a couple of actions you can take that have nothing at all to do with your insurance provider. First of all, consider how the car you are driving could be affecting your insurance. If your car is an expensive finely-tuned sports vehicle best enjoyed at high speeds, that will add to the perceived risk of insuring you. If the make and model of your car is frequently stolen in your area, that can also impact your insurance rates. Consider driving a less expensive, safer vehicle to secure a better price. Also, each insurance company rates cars differently depending on how many claims they’ve had concerning those vehicles during the past several years. Call your insurance provider and ask them about those ratings, and you’ll know if there’s anything you can do about it.
Now that you’ve got a clear picture of what’s possible with your current provider, it is time to shop around. Your best bet is to start with the online insurance aggregators. You’ll find several sites, and they all work with the largest companies that are often in the best position to give you a good price. Make sure you get quotes from several different insurance providers so you can pick and choose between them. Ask each one to give you prices based on full coverage as well as collision only. If you drive an older, high-mileage vehicle you might be able to get away with insurance that protects the people involved but doesn’t necessarily pay you back for damages to your vehicle. Although this option is a risk, it will leave you with lower monthly payments.
Finally, check out the discount sites. Some, such as http://www.comprehensiveinsurancequotes.com collect quotes from smaller, regional insurance agents. Others offer some sort of payment plan, or off brand insurance that could work in a pinch. Just make sure that whatever insurance company you choose from these lists is recognized by the Better Business Bureau. Saving a bit of money on your car insurance won’t do you any good if the insurance doesn’t cover you when you need it the most.