Teenage Drivers
Insurance companies don't like teenage drivers because they tend to have a much higher accident record, so they charge a much higher rate if they'll insure a teen at all. Actually, it's not just teens, the higher rates apply to drivers under 25, and are higher again for boys than girls.
Here's a few suggestions to keep the costs down :
- It is usually cheaper to add young drivers to your insurance policy than for them to purchase their own. If they will have their own car, insure it with your company so that you can get a multi-policy discount.
- Pick a safe and inexpensive car. Cars with better safety records cost less to insure, as do cars that are less expensive to repair.
- Look for discounts. Many companies offer discounts for good grades, completing a drivers education course, and students that are away at school.
- Avoid accidents and tickets. Many companies will offer discounts over time based on driving records.
- Shop around for prices. Some companies are more teen-friendly than others.