Being a new driver can get expensive in a hurry. Driving lessons, fees to get your license, gas, oil, car payment and then the one you like least of all, insurance. Did you know that many insurance companies offer good grade insurance discounts? Saving money might keep you awake in Algebra class!
It Ain’t Easy Being Teen
Teen drivers don’t have it easy when it comes to car insurance. Anyone under the age of 25 is much more likely to pay a substantially higher premium than the rest of the drivers on the road. That can make signing up for an insurance policy pretty depressing.
There’s a reason for the higher charges, though. Teen drivers and young adults are more likely to get into accidents. They don’t have as much experience and are more likely to behave recklessly while out on the road. Even though not all teen drivers behave recklessly, the bad ones ruin it for everyone.
If high premiums have got you or your teen down, don’t fear; there might be a secret weapon at your disposal to drop those rates significantly, school grades! That’s right. Many insurance companies offer significant discounts to teens that maintain top grades. So study up and maintain that high GPA to cut your costs.
Ask for Student Discounts
Before you even sign up for insurance at a company, find out if they offer any student discounts. You want to take advantage of every single one of the discounts that are available; otherwise, the premiums will be obscene. Find out what the stipulations are for the discount so you know what level of grades you’ll need. For instance, many policies will offer up to 10% off for students that have at least a B grade point average. Find out what discounts you have available right away so that you can slash that hefty premium.
Try Taking a Driver Safety Course
While good grades are a quick and easy way to lower your costs, they aren’t the only way that you can save money. Driver safety courses can also offer a potential discount to young drivers. Going through one of these courses doesn’t take much time, and insurance companies again might offer as much as a 10% discount to the young adults that take the time to go through the courses. Just make sure that you find out which schools are approved so that you don’t go through all the training and end up not qualifying for the discount.
Taking Driver’s Ed might cost you a bit up front in added costs, but a year of that discounted premium will likely more than cover the expense of the course, and you’ll enjoy high-quality training that helps you become a better driver at the same time. Always question your insurance provider about all the discounts that are available to you. Otherwise, you could just be leaving free money out on the table.
Try to Get on a Parent’s Policy
In most instances, it’s a much better idea to get on your parent’s policy than it is to go on insurance on your own. You’ll likely receive a hefty discount by being added on under your parent, and they might even get discounts on their policies as well for adding another person.
There are many ways for young drivers to save money on their insurance premiums, but the only way that you’ll know about them is if you ask. Make sure that you find out this information, or you could be wasting money every month that you pay that overpriced policy.