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Auto Insurance for Teens

Auto insurance for teens can get expensive if you’re not careful of what you’re getting into. Teens are in the high risk category for auto insurance, simply because of their lack of experience with driving. In order to combat the high rates you could end up paying, consider some options to save money on auto insurance for teens.

Have a car that is low risk. There’s nothing like a 16 year old kid driving around in a Camaro to send the insurance companies reeling. Consider a four door car, and something that isn’t sporty or dangerous in any aspect. Check safety ratings to find cars that might save you some money. If you can afford to pay upwards of $100 per month for insurance, go ahead and drive any car you choose. Conversely, if the “cool” factor is less important than the price you pay, consider getting a car that is older and not quite as hip to save some money on auto insurance for teens.

Another way to save money is to ask about available discounts. Teens haven’t been driving long enough to get good driving discounts, but there are good student discounts, if the driver is full-time and maintains a “B” average or better. Also, they can be added to the parents’ policy, which will lower their rates via multiple vehicle discounts.

One trick to save on auto insurance rates for teens is very simple, and not illegal. If they don’t have their own car, add them as an insured driver to the parent’s car. The rate won’t be as high. If they do have their own car, keep the car in the parents’ name, and list them first as “named insured”. Then, list the teen as a preferred driver on the policy, and your rates will be a little lower than putting the car in their name and listing them first on the policy. It doesn’t matter whose name the policy is in, as long as everyone who drives the vehicle is listed on the policy as an insured driver.

Although auto insurance for teens is usually more expensive because of their inexperience, these are just a few ways that you can save money on your premiums. It doesn’t matter which company you work with, but usually companies like Progressive and Allstate will have cheaper policies than companies like Esurance and Safe Auto. Your best bet is to contact an independent agent and ask them to re-quote your insurance to find the best deal on auto insurance for teens.