Car insurance for teenagers tends to be excessively high. Auto insurance companies see young drivers as more risky, and therefore have to charge them much more expensive insurance premiums. For a driver that has no driving experience, there’s very little that can be done to show the insurance a lower image of your risk. The only thing that first time auto insurers can do is something called “piggybacking.”
To piggyback, you are going to add your name and vehicle onto someone else’s auto insurance policy, as opposed to starting your own policy. You can generally only piggyback on spouse or parents’ car insurance. The savings over getting your own insurance is phenomenal. Some drivers pay up 50% less of what it would have cost them to get in their own name.
The longer your parents have been upstanding policy owners, the greater the savings you’ll get. Over the course of twelve months, the amount of money you will have saved will be in the hundreds of dollars.
The only negative is convincing your parents to add you onto their policy. My suggestion is to tell them that you will pay for the month in advance. Maybe pay two months in advance. Trust me, the money you’ll keep in your pocket will definitely make it worth the trouble.
The first step in getting cheaper car insurance for teenagers should start with the piggyback method. Convincing your parents to add you onto their auto insurance policy will result in a fantastic rate for you. The savings over getting the policy yourself will be significant.