Safe Driving Discounts Are Available for Teens, and Everyone Else

Insurers charge higher rates for teen drivers than for any other group. Luckily, most insurance companies also offer a variety of discounts that reward teens and parents for safe driving. Taking just a few proactive measures to help your teen be a safe driver can help lower your insurance costs. And even if you don’t have a teen driver in your household, you can still take advantage of safe driver discounts.

Here are some of the most common ways to help your teen take advantage of discounts on car insurance:

  • Driver monitoring devices. Many insurance companies offer electronic devices to help monitor teen drivers. These devices measure the number of miles the car has been driven, how fast it has gone, the number of hours on the road and even how often the brakes are applied hard. Teens who meet certain benchmarks (via the data collected by the device) are rewarded with car insurance discounts. Some companies even provide a discount just for using the monitoring device, and then increase the savings if certain goals are reached.
  • Older vs. newer vehicles. Driving an older car can help you save money on your insurance premiums, but newer vehicles often have safety features that make you eligible for discounts.
  • Safe driving courses. Many insurance companies offer safe driving programs for young and inexperienced drivers. Simply taking the course can make you eligible for an insurance discount. In addition, many insurers offer defensive driving courses for adults.
  • Traffic school. Your car insurance rates will probably go up if you get a ticket, but you can take some action to limit the effect. Most insurance companies will restore your rates if you take a DMV-licensed or court approved traffic school.

There are several additional ways you can save money on your car insurance when you add a teen driver or even if you don’t.

  • Multi-car discount. These discounts are available when you insure more than one vehicle with the same insurance company.
  • Good student discount: To be eligible for a good student discount, the student typically must be a full-time student and achieve a “B” average or higher in all of his or her subjects.
  • Low mileage discount: This discount is given to people who drive only a minimum number of miles per year.
  • Away from home discount: Some insurers offer discounts for students who are temporarily removed from your car insurance policy while they are away at a school that is more than 100 miles away from your home.

Do you have a teen driver in your household? Have you discussed with your teen the importance of safe driving? Are you eligible for any discounts?

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