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Are you the parent of a teenager that is looking for ways to obtain low car insurance rate for your young driver? If so, you will be happy to know that there are several steps you can take to help you get low car insurance rates that your family may actually be able to afford.
It’s About the Car
One of the factors that has a major impact on whether you get high or low car insurance rates is the type of car you purchase. You can usually save money if you purchase an older car rather than a newer model. This is partially because newer cars cost more to replace, but is also because they tend to go faster than older models.
You can also keep your costs lower by avoiding making special modifications to the car. Adding customized murals, chrome grills and rims, spinner rims, suped up stereo systems, pipes, hydraulics and ground effects will all increase your rates.
Carry Only What You Need
Another way to get low car insurance rates is to only carry the amount of coverage that you actually need. If you have an older car or one that simply isn’t worth a great deal of money, you can feel comfortable with dropping the collision coverage on your car. To determine whether or not it is worthwhile to carry collision coverage, multiply your insurance rate by ten. If your teen’s car is worth less than this figure, collision coverage probably is not worth having in place.
You can also change your insurance policy by making the deductible higher. Simply increasing your deductible can knock 15 to 30% off your premium rate.
Look Into Discounts
You may also be able to get low car insurance rates by taking advantage of discounts. If you have your teen take a defense driving course, he or she may be able to reduce the rates by as much as 10%. Many companies also give discounts to people that carry house insurance and/or life insurance with them as well, so find out if your company provides package discounts.
If your teen won’t be driving the car very far, you may also qualify for a low mileage discount. In addition, adding your teens car to your policy may qualify you for a multi-car discount, so be sure to talk to your agent about getting one of these discounts put into place if you qualify.