Getting The Best Teen Car Insurance Rates, 3 Tips To Help Save Money
Adding a teen driver to your auto policy can be a painful experience. One, you don’t want to let them drive your brand new car and two, your rate is about to double or triple. Yes, I did say triple. Especially with a new car. The newer your cars are the higher the rate increase.
Here are some tips to help you avoid this financial headache.
Do your kids have to have a brand new car?
This one surprises me all the time. Parents complain about how much insurance costs for a teen driver and then I ask them what kind of car they are looking at and it’s a brand new 2006 or maybe even a 2007 model. You say it’s loaded with all these new safety controls and has 12 airbags. Those safety features will protect you but they also cost a lot to fix and replace so that’s why the insurance is high. Cars are easy to replace, people are not.
There are many reliable late model cars out there that are just as safe as the brand new models and will cost less to insure. If your teen wants a newer model to look cool, tell them to start working for it.
Another benefit to...