Having insurance for teens is an important step if you think that your teenager might have the potential to make a major claim on your policy. Taking steps to ensure that your teen is adequately insured can put some extra money back in your pocket and give you some peace of mind. Here are eight important tips to know about teen car insurance.
First, never be tempted to purchase the car with the lowest amount of coverage, regardless of whether the insurance company offers discounts. Instead, shop around for the best possible rates. It will be cheaper to buy two or three cars with the same level of coverage and extras. You can also go with a company that offers discounts for having multiple policies with them. In most states, the minimum coverage for a vehicle is three hundred thousand dollars.
Another thing that you can do to save money is to compare policies and their cost with the age of your teen's driving record. Insurance companies tend to charge less if a teen has good grades and is involved in fewer accidents. If you choose a teen whose record is more expensive, you may need to pay more for the policy, or the insurance company may add in additional fees.
Many insurance companies offer discounts for driving safety devices such as anti-lock brakes, child seat protection devices, and even for having more than one car under the same policy. You can also take advantage of programs that pay for certain drivers, such as teens who have not driven for five years or those who have an excellent driving record. While there are many discounts out there, it is important that you comparison shop to get the best possible price.
Once you've settled on a policy, you can talk to various insurance companies and ask questions to determine which one offers the best rates and the best amount of coverage. When you get the quote in writing, do not sign it. Send it back to the insurance company with any corrections you want. This way, they will give you the opportunity to see what they have added on to your policy and what it includes.
One final tip: Shop around to find the best deal when it comes to insuring your teen's car. Remember, the insurance rate that you will end up paying for depends greatly on how much insurance coverage your teen has. and where you live. The higher the cost of the coverage, the higher the rates will be.
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