Do You Need Auto Coverage Now?
Getting rate breaks on your car insurance can be tough
, and confusing. Every car commercial says that every company saves you money compared to every other company, and you're thinking, they can't all be right.Well actually, they can.Due to the statistics relating to teen drivers, adding your son or daughter to the list of drivers on your car will send your insurance rates up, sometimes significantly. But there are ways to lessen this effect.
Invest in supplemental classes through commercial schools. This will not only mean additional practice, but the training is usually one on one, allowing the instructor to focus on your teen for the duration of the session. You can ask the instructor to focus on problem areas that might have cropped up during your son or daughter's coursework with the school system. Many insurance companies will take this extra coursework and practice time into consideration when setting insurance rates.
Many insurance companies give discounts for teens with good grades. Just another reason for your kids to hit the books.Consider having your teen contribute a portion of the increase they have caused to the family budget. Now that they can drive, let them get a job and help pay for the privilege.
Buy a cheaper car. You save money on your car payments and you save money on your collision rates. Sure, that big SUV would look great in your driveway, but the money you save will look great in your bank account after some time too.
by: Jerome Dely