By Contributing Reader Jcy
Car insurance is perhaps the most expensive aspect of owning a car, more so when you add a teenager to the family. Because of their perceived lack of experience, insurance companies tend to charge teenage drivers more in insurance costs than older drivers. But there are ways to bring down the cost of auto insurance in New Hampshire for your teen.
The following are just some suggestions;
1. Get the Good Student Discount
Insurance companies equate a good student with a good driver. So, if your teenager is an above average student, you may be eligible for the good student discount. Most insurance companies will consider a B-average good. When purchasing auto insurance for your teen, keep their report card handy and see if you qualify for the good student discount.
2. Is Your Teen a Secondary or Occasional Driver?
You may also be able to reduce the cost if auto insurance if you share a car with your teenager or make note of the fact that they are in school in another state. Some insurance carriers will allow you to list your teenager as an occasional driver which can reduce the premiums you have to pay.
3. Choose the Right Vehicle for your Teenager
If sharing a car with your teenager is not a viable option, then you should be smart about the type of car you purchase for your teen. Find a car that is affordable and reliable. The last thing you want is for your child to be stranded on the side of the road in an old truck. But you also don’t want to get a loan for a fancy sports car.
The rule of thumb is to purchase a car about 6 to 10 years old but still in good condition. Check the airbags and other safety features to ensure they work or consider having a safety inspection done on the vehicle. A car with all the safety accessories may attract cheaper liability insurance.
4. Get PLPD Coverage Only
If you chose the car correctly, you may be in a position to insure the car with personal liability and property damage (PLPD) only. With PLPD coverage, you cannot get a loan on the vehicle, but you can replace the car if something happens to it. You will also save a lot of money on physical damage which can be very expensive for an inexperienced driver.