How do I reduce car insurance for new drivers?

My son is about to start driving, and adding him to my insurance policy is turning out to be very expensive. How can I reduce costs?

Answer
Ah yes, the age-old dilemma of insuring a young driver! We hear you—it can be a pricey investment to have a child start driving. Lucky for you, there are ways you can find cheap car insurance while making sure you have all the coverage your son could need.
  • Pick higher deductibles. Having a comprehensive and collision deductible of at least $1,000 will lower your monthly insurance payments, though it does mean paying more out of pocket in the event of an accident.
  • Decline comprehensive and collision coverage. Older cars don’t necessarily need full coverage insurance, especially if they aren’t worth much more than your deductible. You may end up losing a lot of money to insurance that you’ll never get back from the company if the car is totaled.
  • Pick a safe car. Investing in a safe car for young drivers can lead to lower insurance rates and peace of mind for your family.
  • See if your children qualify for good student discounts. Many insurance providers offer these discounts on premiums to students who have a GPA of 3.0 or higher. Of course, you’ll need to verify these grades by submitting a transcript every few months.
  • Tell your insurance company if your young drivers go off to college. If your child goes to school over 100 miles from your home, you can get a significant discount on your premium while still having coverage when they come home for vacations.
  • Shop around. Comparing the costs and quotes from multiple insurance companies can help you find the best savings. Jerry can help you get insurance quotes from multiple companies in seconds! That way all you need to do is pick the plan that works best for you and your family.
Best of luck, and may all your rates be low!
Matthew Macgugan
Answered on Oct 25, 2021
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