{"id":271,"date":"2014-09-09T16:43:08","date_gmt":"2014-09-09T20:43:08","guid":{"rendered":"http:\/\/www.dmcccorp.org\/edu\/?p=271"},"modified":"2014-09-09T16:43:41","modified_gmt":"2014-09-09T20:43:41","slug":"have-a-teen-driver-learn-how-to-save-money-on-insurance-2","status":"publish","type":"post","link":"https:\/\/www.dmcccorp.org\/edu\/have-a-teen-driver-learn-how-to-save-money-on-insurance-2\/","title":{"rendered":"Have a Teen Driver? Learn How to Save Money on Insurance"},"content":{"rendered":"<p>Did you know that adding a teen to a car insurance policy could increase\u00a0premiums from 100 percent to 355 percent, even if the teen is just driving the\u00a0family minivan?<!--more--><\/p>\n<p>There are several different ways to get lower premiums for your teenagers. Many\u00a0insurance companies offer online tutorials that they can take and, if passed,\u00a0companies will provide substantial discounts. For example, State Farm has an\u00a0online tutorial called Steer Clear and if the new driver passes it, State Farm will\u00a0give up to a 15 percent discount to first time drivers. Many other insurance\u00a0companies have similar online programs that offer discounts for teens. Esurance,\u00a0an online car insurance company, gives discounts every six months for clean\u00a0driving records.<\/p>\n<p>According to Statefarm.com, here are a few insurance tips for teen divers and\u00a0their parents.<\/p>\n<ul>\n<li>Call around to different companies and compare prices with discounts that\u00a0best suit your needs.<\/li>\n<li>Be aware that your insurance rates typically increase when a new driver is\u00a0added to the policy. If you are not adding a new vehicle to the plan, it is\u00a0best to have the teen as a primary driver of one of the family cars.<\/li>\n<li>Take advantage of student discounts. In most states, students at\u00a0accredited high schools, colleges and universities can get discounts if they\u00a0have a grade point average of a B or higher.<\/li>\n<li>Talk to your teen about safe driving habits and how traffic violations can\u00a0increase their rates.If you are planning to buy a brand new car for your teen, you may want to check which vehicles get the best rates.<\/li>\n<\/ul>\n<p>Most Insurance Companies use three different ways to rate cars in terms\u00a0of damage, safety and liability.<\/p>\n<ol>\n<li>The Damage and Theft Index (DTI), rates vehicles on the cost of\u00a0payment for damage and theft.<\/li>\n<li>The Vehicle Safety Discount (VSD), awards discounts up to 40\u00a0percent for car models that generate lower payment for injury to\u00a0occupants in the vehicle.<\/li>\n<li>The Liability Rating Index (LRI), rates vehicles on the amount of\u00a0damage and injury it causes to the other vehicle and its occupants.<\/li>\n<li>Consider getting a Personal Liability Umbrella Policy (PLUP). If you or\u00a0your teenage driver accidentally injures someone or damages their\u00a0property, you could be sued. Even though your underlying policies may\u00a0provide substantial liability limits, it is not uncommon today for juries to\u00a0award damages that exceed those limits.<\/li>\n<\/ol>\n<p>There are many different areas insurance companies look into while quoting you\u00a0a premium for you and your teen. Companies will look at what kind of deductible\u00a0you want, the kind of car you drive, the areas you drive in, the amount of time\u00a0you are on the road, your age and gender, your driving record and even your\u00a0credit history. So if you live in a major metropolitan area with high auto theft\u00a0rates, chances are good that your rates will be much higher than those who live\u00a0in the suburbs with low auto theft rates.<\/p>\n<p>Here are other ways to save yourself and your teen some money when buying\u00a0car insurance.<\/p>\n<ul>\n<li>Most companies give an Anti-Theft Device Discount for cars that have car\u00a0alarms and other forms of security.<\/li>\n<li>If you have ever been convicted of a moving violation or have been an in\u00a0accident, take Driver Improvement Courses to improve your chances of\u00a0having a lower rate. Many of these courses can be taken on the Internet\u00a0now.<\/li>\n<li>Teens can get discounts if they complete a Drivers Education course\u00a0through their school or accredited agencies.<\/li>\n<li>Vehicles that have airbags, anti-lock brakes, head restraints and day-time\u00a0head lights can also get you a discount on car insurance.<\/li>\n<\/ul>\n<p>Everyone knows that car insurance can be really costly, but there are ways to\u00a0slash the price if you ask about them.<\/p>\n<p><em><em>DMCC is a 501 (c)3 nonprofit organization committed to educating consumers on financial issues and providing personal assistance to consumers who have become overextended with debt.\u00a0 Education is provided free of charge to consumers, as well as personal counseling to identify the best options for the repayment of their debt. To speak to a certified credit counselor, call toll-free 866-618-3328 or email<a href=\"mailto:contact@dmcconline.org\">contact@dmcconline.org<\/a>. <\/em><em>DMCC is located at 3310 N. Federal Highway, Lighthouse Point, FL 33064.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Did you know that adding a teen to a car insurance policy could increase\u00a0premiums from 100 percent to 355 percent, even if the teen is just driving the\u00a0family minivan?<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[],"class_list":["post-271","post","type-post","status-publish","format-standard","hentry","category-automobiles"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p5shu1-4n","_links":{"self":[{"href":"https:\/\/www.dmcccorp.org\/edu\/wp-json\/wp\/v2\/posts\/271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dmcccorp.org\/edu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dmcccorp.org\/edu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dmcccorp.org\/edu\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dmcccorp.org\/edu\/wp-json\/wp\/v2\/comments?post=271"}],"version-history":[{"count":2,"href":"https:\/\/www.dmcccorp.org\/edu\/wp-json\/wp\/v2\/posts\/271\/revisions"}],"predecessor-version":[{"id":273,"href":"https:\/\/www.dmcccorp.org\/edu\/wp-json\/wp\/v2\/posts\/271\/revisions\/273"}],"wp:attachment":[{"href":"https:\/\/www.dmcccorp.org\/edu\/wp-json\/wp\/v2\/media?parent=271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dmcccorp.org\/edu\/wp-json\/wp\/v2\/categories?post=271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dmcccorp.org\/edu\/wp-json\/wp\/v2\/tags?post=271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}