Shopping for your kid’s first car insurance can be nerve-wracking, as is their transition into the freedom that comes with driving. When you choose your teen’s auto insurance from Coastal Wealth Insurance LLC, here are a few tips to consider before signing on the dotted line.
1. Add Them To Your Car Insurance
If you choose a separate auto insurance policy for your teen in Fort Lauderdale, FL, it’s guaranteed that the coverage will cost you an arm and a leg.
A teenage driver is considered a major risk for car insurance providers everywhere, and they have to instate their own form of insurance to counteract that risk. this comes in the form of high premiums and limited coverage.
A sound option is to add your teen driver to your own auto coverage. Your solid reputation as a driver coupled with your willingness to assume responsibility for your child’s driving is insurance enough to lower the rates a bit.
2. Get Your Teen A Used Car
Of course, every teen driver wants to drive a flashy, brand-new car. However, make the wise choice to hand them down a spare car from within the family, or buy them a safe, reliable used vehicle.
Brand new cars depreciate quickly. In fact, they depreciate to half of their retail worth as soon as they are driven off of the dealership lot. this is common knowledge that auto insurers are well aware of, and they rate new cars accordingly.
Purchasing a used car means that it won’t depreciate as quickly. also, if your child does have an accident, the car insurance provider has less to reimburse than if the accident happened in a brand new car. This causes the rates to be lower all around.
3. Send Your Teen To Driving School
It’s great when you bond with your child over a family driving lesson. You can still keep teaching your child how to drive. However, for better auto insurance coverage at a more reasonable rate, consider enrolling him or her in an accredited driving school.
This is more of a formality than anything else; if your child completes driving school, he or she will have the paperwork to prove their competency. Your insurance provider will consider this proof of competent driving as a decreased risk. Therefore, even if it’s a teen driver who is to be covered, he or she is knowledgeable about driving responsibilities on paper. This allows the provider to lower your overall premium rate.
Are You Ready To Buy Coverage For Your New Teen Driver?
It’s hard to let your teen go out on the road alone. However, if your teen has adequate insurance coverage, he or she will be taken care of as a driver no matter the circumstances. Contact one of our understanding agents at Coastal Wealth Insurance LLC today to discuss coverage for your teen. Visit us in our Fort Lauderdale, FL to get a quote and find the policy that works for your family.