If you’ve ever had the unpleasant experience of adding a teen driver to your insurance policy you’re well aware of the sticker shock. One study found that adding a teen driver increases premiums by an average of more than $1,500 a year.
There are ways to pinch some pennies and save money on teen car insurance, so don’t freak out if you have a teen on the cusp of their sweet 16. Car insurance companies do offer a few discounts for teen drivers that you should definitely take advantage of.
Almost every car insurance provider will offer a good grades discount for teen drivers. This discount can save you up to 25% on your bill. Insurers offer a good grades discount because studies have found that teen drivers with good grades are 33% less likely to get in a wreck during their first year of driving.
Oklahoma is one of the few states in the country that does not require drivers to go through driver’s ed to get a license. However, just because it’s not a requirement doesn’t mean you shouldn’t enroll your teen driver. Insurers offer a 10% discount for drivers who have a certificate from an approved driver’s ed program.
Sign a Contract
A few insurers will offer discounts for teen drivers who sign a contract promising never to text and drive, always obey the speed limit, wear their seatbelt, and never drink and drive. Discount rates are around 5%, but this will depend on the insurer.
Just like with older drivers, the more expensive your teen’s car is, the more expensive it will be to insure. You don’t have to give your teen a total junker, but a moderately priced used car will save you money.
Check with a few companies and see who offers the most discounts you can qualify for. This can take a while, so instead of doing the shopping yourself give us a call. As a Tulsa car insurance company, we shop more than 30 different companies for you and find the best policy that fits your needs.