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More Tips For Saving Money On Your Children’s Car Insurance

By Jason Markum

Boy are insurance premiums shooting through the roof! Seems like a month doesn’t go by when some insurance of mine hasn’t increased its premiums by just a little bit. Why, at the end of last year 2009 I even got a letter from my health insurance company telling me that times are tough and we all have to band together and pull each other through this recession. Apparently the way to do that is for me to start paying more for that particular health insurance!

But there’s one kind of insurance in particular that is historically more expensive then it maybe should be, and that is auto insurance for children. Now I can sort of see the case that the insurance companies make… that is, kids get in lots of car wrecks. They’re stupid, they do stupid things, they drive stupidly, they don’t pay attention very well, and they simply don’t have much driving experience which leads to more auto accidents. And when there’s more auto accidents, that means the insurance companies have to pay out more money… which is something that no insurance company likes to do. Hence higher rates for childrens car insurance.

This can be especially hard to handle if your family has several children all of whom need car insurance. But there is some silver lining to this problem. There are several ways that you can lower the cost of your premiums for insuring the children in your family.

The first and most basic tip is to make sure that your children have taken driver’s ed. While it is true that most states require the passing of driver’s ed in order to issue a valid drivers license, some states don’t. If you live in one of those states then make sure that your child has attended and in fact passed driver’s ed class anyway. If they do, you can expect a decrease in your insurance premium by sometimes as much is 10% or more. Of course you can must actually pass the class; it’s not good enough that they merely attended.

The next tip that most people have already heard of is called the “good student discount”. Basically this just means that if your child maintains at least a B average you get a discount. The higher your child’s grades are, the higher your discount will be… so keep that in mind, most people don’t realize that part. You’d be surprised but sometimes having a good student can lower your insurance premiums by as much as a fourth which is a lot of money if you actually think about it.

Another tip has to do with cars that your children own outright. If your kid owns their own car then insure them under your policy and not under their name. Almost every insurance company offers a multicar discount and this discount can range anywhere from 10% sometimes up to as much as 30% depending on the company. That will give you a significant discount month in and month out.

Finally, if your child lives over a hundred miles away for college and doesn’t have a car on campus then you can try for a college student discount which ranges usually from 10% up to 15% and sometimes even 20%. You may be curious why you would need car insurance at all for your children if they’re away at college and aren’t driving… well they always come home don’t they? Spring break, fall break, summer break, Christmas break, and on and on… and when they do what’s the first thing they ask for? The keys! So there you go.

There you are, several tried and true tips to lower your insurance premiums for children in your family.

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