Why is auto insurance so high for teens? It comes as a shock to most parents when they are trying to get an auto insurance policy for their teenagers. The simple reason is that almost all insurance companies view teens as more accident-prone drivers with no driving record or credit history. They are afraid that the damage claims will be higher and are trying to cover this with the high premium rate.
Don’t lose heart. I’ll show you some of the proven methods that will significantly lower the cost of your child’s premium. The following 3 tips are very effective in significantly increasing the amount of your policy.
1) Give your kids good driving lessons.
Most insurance companies are willing to lower the policy amount if you can show them that your teen knows the proper driving behavior on the road and has received driving lessons. This will ensure that insurance companies move your teen’s application from a high-risk category to a moderate-risk category, resulting in a good deal on the policy amount.
2) Buy an insurance friendly car.
Do you know what a safe vehicle is? In the same way that you have a driving record, most car models have a history. Some of them are favorites among car thieves. All insurance companies know the history of each and every car model and this will definitely have an impact on your teen’s policy amount. So make sure you do proper research on model history before buying your car.
3) Get Quotes From Multiple Insurance Companies
Never finalize your teen’s policy without getting quotes from multiple insurance companies. Each and every insurance company will evaluate the insurance application and arrive at the premium amount based on their internal rating factors. Although there are many things in common between them, the scores for each factor will vary and you may be pleasantly surprised to get a cheaper policy for your child.