How To Lower Your Teen's Auto Insurance Costs


It's that time: time to put your teen driver on your auto insurance. This thought can make many parents cringe: a teenager can make an auto insurance policy skyrocket, and that's even if they are a good driver. Still, there are some ways that you can get your teen driver a more affordable policy, often while teaching them the importance of responsibility.

Enroll Them in a Course

A teen driving course is the perfect way to get your teen road ready while also getting discounted rates. In fact, even adults can usually get discounted rates by going through a safe driving course. Enrolling them in a course is also vital for getting their hours up; in many states, teens need a certain amount of registered hours before they can take the test. 

Make Them Get Good Grades

Many companies have discounts for students with good grades -- even college students. Of course, you naturally want your child to get good grades anyway, but you can always link the car's usage to the grades themselves; if their grades go below a certain level, no more car. Most good grade programs require a B average.

Get Them a Safe, Cheap Car

Sometimes the most affordable car to insure isn't always the obvious choice. The car needs to be both cheap and safe. Safer, newer models of a car may actually be more affordable to insure (even if they're more expensive) than cheaper, potentially unsafe models. This is because the auto industry has made great strides in standard safety features in the last decade. When looking for a car, always run the insurance quotes before you buy. 

Reduce Their Mileage

Auto insurance is often calculated by mileage. By making sure they only drive from school to home (or from work to home), you don't just drastically reduce insurance -- you also lower the possibility of them getting into an accident. Teen drivers are still very easily distracted and they're often doing other things, such as holding animated conversations, while they're driving. It can be a good idea to restrict driving for at least a few years while they get used to it.

While you're teaching your teen driver to be responsible, why not teach them about the value of money, too? Regardless of how much your teen's auto insurance costs, it can be a good idea to make them pay you back for it. This will get them used to paying monthly bills and the consequences of being late on them. Contact H and M Insurance for more information.


26 March 2015

Learning the Importance of Renter's Insurance

Having lost everything in a fire while living in my very first apartment, I learned the hard way just how important renter's insurance was. I did not have any renter's insurance and had no idea that it was something that I needed to have. I had counted on the owner's insurance to cover the cost of replacing my belongings if something like that would happen. Boy, was I wrong. The apartment I moved into next was owned by a much more helpful man. He actually helped me find the insurance company to open a renter's policy with. Now, I have the insurance I need and feel confident that if a disaster like that should strike again, I will have the coverage I need to replace my things.