In my opinion, finding cheap car insurance for young drivers is something that you really need to think about. If you are a parent of a teenager, you already know how expensive they are! I raised three teenagers, and I’m lucky to still have a penny in my pocket. Everything about them just costs a lot of money, and auto insurance is definitely no exception.
Let’s say that you were going to buy a car. Would you just walk into the first dealership that you see and write a check for whatever they tell you the price is? No, you wouldn’t! We need to think of teenager insurance in the same manner. We need to figure out what we really need, how we can save some money, shop for the best price that we can find, and then make the decision that meets our needs in the least expensive fashion possible. Finding auto insurance for students that won’t break the bank does take a little work.
All young drivers need to take a driving school course. Some states even mandate it. Even f your state doesn’t, make your teen take a driver’s education class. First of all, it will make the road safer for them and the rest of us. Secondly, it will likely save you a lot of money on their auto insurance. Practically all vehicle insurance companies will offer a great discount if your teenager has passed a driver’s ed class. The savings can actually be pretty significant.
How are your young driver’s grades? Did you know that many companies offer a discount if they have good grades? It’s true! Most will offer a significant savings if your child’s grade point average is a 3.0 or better.
What type of auto insurance is your child going to get? If you want it to be cheap (or at least cheaper), you need to focus on liability only. Liability will cover the cost of any damages that he/she does to someone else, but will not cover the damages done to his/her car. In other words, if your teen is at fault in a wreck, you’re paying the cost of repairing the car. While this doesn’t sound fun, sticking to liability only will save you a ton (at least in the short term).
What kind of vehicle will your child be driving? Sure, it’s fun to ride around in a hot rod, but that may cost you when it comes to paying for their insurance. Most insurance companies will charge a lot more for a fast/sports car. They may even charge extra if it is a bright color (such as red). If your goal is cheap auto insurance for your teen, stick to a slower car that isn’t a bright/flashy color.
Lastly, the most important factor in getting cheap car insurance for young drivers is to SHOP AROUND! I can’t stress this point enough. You should be contacting at least three different companies for a quote. It’s so easy to get a quote online nowadays that there’s just no excuse for not doing so. I would personally make it a goal to get a quote from at least ten great car insurance companies. The rates from one to another can really vary considerably.