Finding affordable auto insurance for young drivers can be a major challenge. Because the risk they pose is largely unknown, new drivers insurance policies for teenagers often have high premiums. There are ways to lower these high premiums, though, and one of our licensed agents can help you through the process.
Coverage Levels vs. Deductibles
One way to lower premiums is to reduce a policy’s coverage levels, but this is not usually a wise choice – especially when driving around Highland Park, TX. Being one of the wealthiest cities in the country, there are many expensive cars on the roads. Some cars residents drive can cost $100,000 or more. Even a slight scratch on an expensive car is expensive to repair, and you do not want to be caught without coverage.
Deductibles, on the other hand, can often be raised with minimal risk. Increasing your deducible from $500 to $1,000 only exposes you to an addition $500 risk, but it could lower your premiums significantly. For new drivers, the savings may more than make up the risk they are taking on. To discuss these tradeoffs in detail, contact one of our agents.
One of our independent agents can also help you find additional discounts that can be used to lower premiums. An insurer may offer discounts for:
- having an anti-theft system installed on the car
- storing the car in a garage, rather than on the streets in Highland Park
- good grade on a report card
These are just a few sample discounts. Talk with one of our agents today to see if there are others you qualify for.
Give us a call, so we can help you find affordable auto insurance rates for your new driver. New drivers insurance is not cheap, but we can help make sure it does not break your piggy bank.