Do you have a teenage driver (or one soon to be)? Back-to-school time is a great opportunity to think about car insurance savings!
Fortunately, you still have options.
First, you want to think about the vehicle your teen will be driving. Premiums are higher on vehicles with comprehensive and collision coverage, which pays to fix your vehicle after an accident. When you have a car that has only liability insurance (which pays only for damage your driver does to someone else’s car), you pay a lot less.
Don't Buy New. If you are purchasing a car for your teen and need to watch your budget, consider buying an older reliable model for cash that will not require comprehensive and collision coverage. We can help you weigh the cost and the risk to see if it is a good option for you.
Look for Discounts. You also want to take advantage of all available discounts. These vary by policy but typically include a discount for driver's education and one for having good grades. With school starting soon, it's a great time to setup an incentive plan with your teenager to make sure they keep those grades up and your premiums low!
Put Them on Your Policy. Putting them on your insurance policy will raise your rates, but will keep it lower than if they have their own policy. If you're paying their insurance, this will save money. If, on the other hand, you're having them pay for their own insurance, then have them pay you the difference between what you were paying before and what you now have to pay. This keeps your rates the same and teaches your teen some responsibility, too. They'll drive more carefully when it will cost them, too.
Still have questions? Call SAV-ON Insurance at 888-867-2866 to review your current policy and look for ways to help you manage the cost of having a teenage driver.