African American teenage girl with her first car

How to drive down the cost of insurance for your teen driver

By Buckaroo Staff

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Having a teen driver can be a scary thing for parents, but it doesn’t have to be a financial nightmare.

Believe it or not, it is possible keep insurance rates low while still making sure that your new driver receives good coverage.

Here are a few tips to keep in mind as you search for quality (and affordable) insurance for your kids:

Good grades can reduce rates

Nearly every insurance company equates good grades and consistent attendance with a higher level of responsibility in teens. If your child is a high achiever, make sure you mention this when requesting a quote for coverage.

Otherwise, talk with your teen as early as possible about how their school performance can affect your willingness to insure them to drive.

Drive the reliable choice

Teen drivers’ rates are based partially on the vehicle they drive. It’s no surprise that a 16-year old driving a new sports car is considered to be a higher risk!

An older model sedan or small SUV is a better choice not only for lower insurance rates, but for the overall safety of your teen driver.

Promote safe driving

Traffic tickets, accidents and parking tickets can all raise rates sky high. Some companies even offer incentives to young drivers such as safe driving “contracts” and pledges not to text while driving.

Find out if any special discounts are available for good driving behavior.

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