Saturday, August 30, 2014

Teens' Parents, Go Through These Car Insurance Basics and Saving Tips

Car insurance quotes are rising every day for many people, and can be a frustrating bill to pay each month when there are not necessarily any benefits to see. However, thousands of people are involved in car accidents every year, and you run the risk of getting into an accident each time you drive your car. Teenaged drivers are especially at risk for accidents, and it is imperative that your teenager driver carries adequate insurance coverage in order to be protected.
Since teenaged drivers are statistically the most likely group to be involved in an accident, they are, unfortunately, the most expensive group to insure. Many people dread the day they will have to add their teenager to their policy for this reason. Fortunately, there are a few things you can do in order to lower the cost so your young driver can be protected without breaking the bank.
Make Sure All Discounts Are Accounted to your Car Insurance Quotes
One of the easiest ways to save money each month is by finding car insurance discounts. If you search for car insurance quotes online, most companies will automatically factor in any discounts you are eligible for. However, if you know what discounts are available beforehand, you can see if there are any areas you can work on in order to make yourself qualify. Additionally, some insurance companies do not advertise all (or even any) of their discounts online, so it is always a good idea to give the company a call after you get a quote to make sure all discounts are accounted for. Some examples of teen specific discounts include good driver discounts, good student discounts, low mileage discounts, and living away from home (for school) discounts. Sometimes students can even get a discount for being a part of certain organizations such as fraternities. As a family, having all of your cars insured at one company can get you a "multi-car" discount, as well as combining other types of insurance for a "multi-policy" discount (health, life, renters, etc).
Type of Vehicle
In the same way that teenagers are statistically the most likely to get into an accident, certain cars are also statistically higher risk. You should take this fact into account when purchasing a vehicle for your young driver. The make, model, age, and features of the car will make a difference in the final insurance premium. Sports cars and cars that are often stolen are going to be the most expensive to insure. Typically older/used cars will have lower premiums, but having up to date safety and security equipment can also save you money. Your best bet is to get a quote for the car you wish to buy before you buy it so you can make sure it is a reasonable price to insure.
Finally, taking a driver's education class is a great way to help your teenager be a safer driver and save money on your insurance policy. These classes often earn you a discount that could be as high as 15%. Not all classes count, and not all insurance companies accept them, so it is best to check with your insurance company before enrolling - although they are still a good idea for young drivers regardless of insurance savings.