Your teen has started driving. As they learn the rules of the road, it’s important that they’re well protected with the right insurance coverage. However, since teens have less experience on the road, investing in auto insurance can be pricey. Find out what you need to know about how to save money on your teen’s auto insurance.
Single Policy vs. Multi-Vehicle.
When it comes to saving money on your teen’s auto insurance, it’s important to decide what type of policy they need. A single policy gives coverage for your teen and only your teen, whereas a multi-vehicle policy allows you to add your child onto your current auto insurance policy. Each option has its pros and cons. Weigh the costs and benefits so that you can choose the right policy for your needs and budget.
Good Student Discount.
There are various discounts that you can take advantage of when it comes to your car insurance. Often good student discounts are offered for teen drivers. It’s a great way to encourage your teen to get good grades, and save money on your car insurance. Talk with your insurance agent about any applicable discounts so that you can get the best coverage for the best value.
Consider A Higher Deductible.
When it comes to your insurance, your deductibles, or the amount you pay before your coverage kicks in, effects your monthly premiums. Choosing a policy with higher deductibles can lower your monthly insurance costs. However, keep in mind that if you were to increase the deductible amount, you will have to pay more out of pocket in the event of an accident.
Ensure that you save money on your teen’s auto insurance with these tips. Contact Mike Leonard Insurance Agency in North Texas. We’ll work to get you the right coverage from one of our carriers Kemper, MetLife, Travelers, The Hartford, Safeco Insurance, Progressive, and American Strategic Insurance so you can rest easy with excellent protection.