Today’s teenagers have a lot on their minds. Next week’s mid-term, the big game, and the party scene are just some of the distractions facing our teens today. Car insurance is not a huge priority for many students. Since many teenagers are still covered under their parents’ policies, they do not have a real need to go out and look for a car insurance quote for themselves. On the other hand, there are many hard-working teens that have to pay for their own car insurance, and maybe prone to pay too much or get too little coverage. Here are some tips that can help the hard working teenage driver save on their car insurance.
Collision and Comprehensive Coverage for Teenagers
Most hardworking teens will usually drive an older used vehicle as money from the part-time job is not enough to cover the expenses of a brand new car. Because they are driving an older model vehicle (i.e eight to ten years old), depending on its condition and age, teenagers shouldn’t worry about getting full coverage, that is, collision and comprehensive coverage.
This is because if your car is ten years old and not in the best condition chances are it is worth less than $2000. Full coverage or physical damage coverage will require you to pay a deductible anywhere from $500 to $1000 or more in the event that you are held at-fault for an accident. You will be then paying half your vehicle’s value in a deductible to get it repaired, when you could have used that money to fix the car yourself -as older cars tend to be very cheap to repair. For this reason, teenagers with older vehicles may want to opt for only liability coverage.
Minimum Liability Coverage for Teenagers
Each state has its own minimum liability coverage requirement—anywhere from 50/100/25 to 10/20/20. These numbers translate to the following: x thousands of dollars per person, x thousands of dollars per accident, and x thousands of dollars for property damage to others. Keep in mind that states have mandatory minimums. In general, this is not enough coverage to ensure that all parties will be taken care of in the event of an accident. It is recommended teenage drivers get much more liability coverage than is the minimum for obvious reasons.
Cheap Car Insurance for Teen Drivers
The best way for teens to find the cheapest car insurance rate is to shop around (and we all know how much teens love to shop around). You can shop around at our site, by doing a quick and easy auto insurance quote here. Enter your zip code above to begin and you will be able to compare rates from multiple insurance companies all totally free. Now that’s some good shopping!