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It sounded like such a good idea when you paid for the driving lessons, but now that your child has a driver’s license, you are faced with an eye-watering increase to your Dallas auto insurance premium. Your child, of course, has no driving record, and that makes them a risk to insurance providers. However, there are a few ways to counteract the increase in your annual auto insurance premium when it finally arrives.

Adjust Your Coverage

If you can adjust your deductible to at least $1,000, that should give you a significant reduction in your annual premium. If you can also start an emergency fund with the money you save, you will have the cash to pay the increased deductible if your child does have an accident. If you own older cars that are worth barely more than the deductible, consider dropping collision and comprehensive coverage altogether. The truth is that your insurance costs could be more than your car is worth. You can check on your car’s value by looking it up on the Kelley Blue Book website. 

Buy a Safer Car

Insurance companies regard cars with smaller, less powerful engines as safer, and that could mean they cost less to insure. A car with lots of safety and warning features will also be looked upon favorably by insurance providers. You can find safety information for most cars sold in America on the Insurance Institute for Highway Safety website.

Look for Insurers That Offer Discounts for Teenagers

If your teenager is going to college at least 100 miles away and won’t be using the car for several months at a time, some insurers will consider providing a discount. It may also be possible to take advantage of discounts if your teenager is willing to take some form of defensive driving course, and in some cases, this can be done online. Also, consider using one insurer for all your personal insurance needs, as many providers will offer significant discounts for doing so. 

Encourage Your Child to Do Well at School

A lot of insurers will offer significant discounts for young drivers with at least a ‘B’ average in school or college. If you can promise the use of a car, it is amazing how teenagers can suddenly up their game at school.

If all else fails, some states are now offering teenagers the chance to learn under the Graduated Driver Licensing Scheme. This restricts what young people can do in cars for a predetermined period, and that can sometimes be recognized by insurance providers. 

If your child has just passed a driving test, call La Familia Insurance at 888-751-7511, and one of our insurance agents will discuss how you can minimize the impact on your auto insurance premiums.

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