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Finding Affordable Car Insurance For Teens

Many teenagers are excited when they turn 16 and its time to get their license, but nothing crushes that excitement quite like a big fat car insurance premium every month. Here are some important tips to help find affordable car insurance for teens.

Get on mom and dad’s policy
Insurance companies divide people into groups and assess risk based on the group’s risk. As I’m sure you guessed, teenagers are by far the riskiest group and with a lack of experience behind the wheel, common sense says they’re correct. By adding teenagers to their parent’s car insurance policy, parents are financially accountable for the way the teenager drives, and their teen driver will have more affordable car insurance premiums because of it. On the downside however, if their teen driver causes an accident, everyone’s premiums will skyrocket.

Drive An Old, Reliable Car
When they get their license most teens picture cruising around town in a fancy high performance car, but the reality is teens who have an expensive and fast car will pay a very high premium compared to an older, safer, more reliable car. Expensive cars cost more to fix and have a higher likelihood of being broken into or even stolen. If you’re thinking of a hot, fancy car for your teen, consider a less expensive, safer model to make your car insurance more affordable.

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Take A Safe Driving Course

Many insurance companies offer a discount of 10 percent or more if your teen completes a safe driving course. With a lack of experience on the road, and a lack of understand on how to handle a high pressure situations, a $35-50 investment in a safe driving course will help your teen stay safe, and that means more than anything you will save getting a more affordable car insurance premium.

Get Good Grades!
Like giving a discount to one occupation over another, this is another way car insurance companies provide discounts for “more responsible” demographics. By maintaining a B average or higher, teens can save 25 percent or more on car insurance.

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