Hands up – surrender your wallet! It’s a day when parents experience both relief and worriment. Once a teenager gets behind the wheel and obtains a driver’s license, mom and dad are freed from the relentless chauffeuring schedule. That freedom, however, is negated by the heavy cost to insure a teenage driver.
Car insurance for teenagers will take a heavy bite out of your budget, potentially adding upwards of$1,000 per year to your premiums. Since premiums are based on the risk of an accident, car insurance for teenagers is astronomically priced.
The tips in this article will help you bring Nashville car insurance rates for your teenagers back to earth.
- Purchase a “safe car.” Encouraging your teenager to drive a “safe” car will lower your Nashville auto insurance rates and give you peace of mind. Safety ratings can be reviewed at the Insurance Institute for Highway Safety. It’s better to purchase a conventional vehicle for young, inexperienced drivers rather than more expensive, high-performance cars.
- Encourage studying and good grades. You already encourage your teenager to do well in school, but did you know that good attendance and grades contribute to favorable car insurance rates for teenagers? While discounts vary from one insurance provider to the next, your student may be eligible for a good student discount.
- Drive safe. Want a guaranteed way to raise your insurance rates? Get in an accident. Conversely, being a safe, attentive driver will reward you with long-term discounts and competitive rates. Remember, even minor fender benders can result in severe hikes, so encourage your teenage driver to drive smart, not fast.
- Consider raising your deductible. The more that you have to pay out of pocket while filing a claim, the less your premium will be. If you decide to take this calculated risk, be sure that you have emergency funds set aside and that your teen driver is committed to safety on the road.
- Work with a Nashville car insurance agent that you trust. Meeting with an auto insurance agent in Nashville will ensure that you receive the protection that you need and deserve.
Royce Williams is experienced in helping families achieve the most favorable car insurance rates for teenage drivers.
Contact Royce Williams today to learn more.
