There are many costs involved when your teenager is hoping to receive their license or already has; classes, their wish to own their own car, the cost of gas, and of course the dreaded increase in your insurance.
With statistics constantly confirming that the younger a driver is the more likely they are to be involved in an accident it is no wonder insurance is so high for teenagers.
If insurers are risking higher rates of destruction and death they will not do so on their own, the parent must take on some of the load.
However, there is hope, there are many ways to lessen the stress that comes with insuring your teenager.
It is actually easier than you think to find cheap auto insurance for students.
Most importantly, make sure that your children are well educated both in school and in traffic.
It is no big secret that auto insurance companies give discounts to students who maintain a B average GPA.
This is not because of the common misinterpretation that grades are directly correlated with how well a student drives.
In the long term, students are viewed as more responsible and therefore they are seen as better future risks.
Another common and easy way to lower the prices you have to pay by up to 15% is making sure your child has taken driver's ed.
The thing that actually helps reduce accidents by going to driver's ed is going through a much longer and slower process, which is why insurers are willing to knock down their prices a bit.
Try raising your deductibles.
It is always a smart thing to try and use your insurance to coverage big accidents rather than simply focus on the small ones you can simply cover on your own.
Not only that, raising your deductibles can greatly reduce your premiums.
A lot of people are trying this out now when their children gain their license and it is a smart and efficient way in saving.
Just remember not to buy a new car, this is applicable to both yourself and your student.
Most parents will buy their child a new car due to safety features and if not they will buy themselves a new car and pass on their older model to their child.
This is never a smart idea.
New cars are always more expensive to insure so save yourself the trouble in the end and play it smart.
Finally, make sure to have strict driving rules with your children.
Preventing accidents begins with preventing situations from ensuing that may be riskier and more expensive should something happen.
Try emphasizing the importance of supervised driving, restrict nighttime driving, limit both passengers and other distractions, and finally be firm and consistent with these rules and whatever others you set up.
Inexpensive auto insurance is easier to find than people make it out to be at times, so just stick to a few rules and do some extra work and you will not have to worry about the additional costs that come with insuring a student driver