Helping Cut The Costs Of Car Insurance For Your Teen

Recommendations To Help With Your Budget

You have to keep your eye on the big things when a teenager starts to drive, like making sure they drive safely. But parents and teens also have to watch the little things to save money on auto insurance premiums.

GEICO has some recommendations that could help the family budget.

Discounts for driver training programs: A number of auto insurance companies in several states provide discounts for students who complete a driver training program. Discounts will vary, so it's important to do some comparison shopping.

Good student discounts: Good grades could add up to sizeable savings. Full-time students with a B average or with dean's list or similar honors could qualify for as much as a 15 percent discount. Discounts will vary by state and by insurer. Traffic offenses will nullify a student discount; that's another reason to drive safely.

Teens should start slow: New drivers should approach driving the same as they would any new activity, gradually and deliberately. Limited use of the family vehicle is the best way to gain experience and control costs. New drivers should not have unlimited access to vehicles until they have become more experienced behind the wheel.

Consider the type of car: Young drivers are inexperienced and should never be allowed to drive high-performance cars. Keep in mind, too, that insurance costs are lower on more conventional vehicles.

Get a quote before you buy: Insurance costs vary by age and type of vehicle. It's always good advice to call for a quote or get a quote online before you buy any vehicle.

Review your deductible: This applies to all drivers, not just young teen drivers. Increasing deductibles, which results in sharing a greater portion of any comprehensive or collision loss, can reduce auto insurance premiums. Again, check with insurers to find out exactly how much is saved by increasing the deductible from, say, $200 to $500 or even $1,000.

Drop some coverage: Consider dropping collision and comprehensive coverage for an older car, because they only cover the current value of the car.

Safety, safety, safety: The best way to cut teen auto insurance costs is to teach young drivers to drive safely and become experienced gradually. Because young drivers are the least experienced, more fatal accidents occur in this driving group. Premiums reflect this overall driving behavior.

GEICO Family Pricing program: Your son or daughter can move from your GEICO policy to his or her own GEICO policy while continuing to receive the same great car insurance rates you're currently receiving. To apply for a quote with the GEICO Family Pricing program, get a free online car insurance quote online, call 1-800-555-2760, or visit a local agent. Learn more about this valuable program with information for parents and children, including important details and restrictions.