Cutting The Cost of Teen Driving

The cost for the Teen Driving is perhaps not as difficult as you think. Find out if your teenage driver to qualify for this discount policy.

(NAPSI)-high unemployment, plus the concern over rising gas prices and inflation, parents are looking for ways to reduce costs associated with getting teen drivers on the road cut.

A recent Nationwide Mutual Insurance Company survey shows that households with teenage drivers to shell out an average of almost $ 3,100 per year for their teens to drive. Although other factors are involved, the cost of having a teen driver is a big one.

On average, parents of teens pay or pay nearly two-thirds or more of all costs associated with their child driving, ranging from car insurance to gasoline. Furthermore, 40 percent of parents pay for all costs associated with their child driving, while 33 percent will share the costs with their teen. Only one in six parents of teens say that their teen will pay for all driving expenses.

To help offset the cost, here are a few tips to reduce the cost of car insurance to manage:

Good Student Discounts:

Many airlines offer discounts for young drivers who excel in school. This good student discounts to that responsibility in the classroom often leads to the responsibility behind the wheel. Nationwide Insurance, for example, offers a 25 percent reduction in premiums for drivers under 21 years who like a B average or better.

Education pays:

Some insurers offer a discount to families that their teenage driver to participate in a certification program to register.

Family plan:

Check to see if your insurer offers a family, which provides discounts earned by the adults in a household to their teen driver (s). Discounts extended to teenagers as part of the family planning MULTICAR, multi-policy and financial responsibility. This reduction can help save up to 25 percent on auto insurance premiums.

Multi-Line Discounts:

Combining policy-like home, car and life-with a company is a great way to save money on the total cost of insurance.

Deductible Options:

With a higher deductible on a car, combined with programs such as Vanishing deductible and Accident Forgiveness, can keep out-of-pocket costs stable. For example, who can afford to pay $ 500 when an accident occurs may want to select as their allowable deductions to lower insurance premiums.

Other Discounts:

Having your payments electronically can save you up to $ 48 per year.