Limiting The Cost Of Your Auto Insurance Policy When Adding A New Driver
Insuring all the drivers in your family gets expensive when the kids reach driving age. If adding an experienced driver drives up car insurance quotes, imagine the cost of auto insurance for a teen driver! And if you are getting a separate car for your teen driver, auto insurance quotes can be even more. Not to worry, though – there are some strategies you can use to minimize the cost impact of adding a new driver to your policy. It will take a little time and attention to get all the information you need, but it will be well worth it when you see how much you can save on your auto insurance quote.
Before adding your new driver, set out an action plan to help you analyze your auto insurance needs, research alternatives and find the best coverage combination and auto insurance quotes for your new driver. Start the auto insurance quote process as soon as your child gets a learner’s permit so that you can take your time making some difficult decisions. For instance, on the car you buy for your teen, could you replace it with your own money if it was totaled in an accident? If the car is worth only a few thousand dollars, set the money aside in your savings account. You could save hundreds on your car insurance quotes, plus earn interest on the money while you hold it in your savings account.
In most states, you can list your teen as a secondary driver on your auto insurance policy to save money. However, some states require the insurance be priced based on the highest rated driver who operates the car, whether that is occasional use or not. Find out ahead of time how your company rates auto insurance quotes based on drivers and make smart decisions accordingly. In many cases, you can get a cheaper auto insurance quote by excluding your child as a driver on your car and then buying your child a cheap car for which he or she can be a primary driver. If you do this, be very careful never to let your child drive your car. Otherwise, you may end up with an uninsured accident on your hands, after going through all that trouble to find good car insurance quotes.
Once you decide what type of coverage you will purchase, it’s time to get an auto insurance quote. Get car insurance quotes from several insurance companies. Be sure to include a company that specializes in high-risk drivers when you get auto insurance quotes because companies can sometimes offer you a separate policy for your teen that is cheaper than insuring on your own policy.
