COMPARISON website Compare The Market gives advice to dealers on the best practices to bear in mind when their offspring are trying to purchase car insurance.

Shopping around for car insurance is one of those tasks that, while being far from anyone’s favorite activity, is one that can save you substantial amounts of money.

Searching for car insurance for young drivers is particularly important, though, because teen drivers may see the most differentiation between the rates that car insurance companies offer. The quotes for some companies may be based strictly on the driver’s age, while another company takes into account discounts for such things as good grades, school attendance, and a host of other things.

Teens should do the shop…

HAVING your teen driver shop for their own car insurance is a valuable life lesson that teens will have to learn as they leave the safety of school and enter into the real world. By doing their own shopping, they will learn that not everything is as simple as it appears on paper. Different coverage levels, for instance, will carry a vastly different price from insurance company to insurance company. In addition, having your teen driver shop for their own car insurance will begin to teach them how to negotiate for the best deal possible on their insurance, even if they end up with a policy connected to their parents’ policies.

…but shop around

THE best place to begin shopping for car insurance for young drivers is with your household’s current insurance company. In many cases, you will find that adding an additional line of coverage to your policy will result in lower premiums across the board, and your teen driver will benefit from that multi-policy discount, as well.

That doesn’t necessarily mean that they’ll automatically get a better rate, though. Don’t forget to check other insurance companies for their premiums, as well. Failing to be aware of the rates offered by other companies could lead to your significantly overpaying for your insurance, not to mention your car insurance for young drivers.

Compare apples to apples

Rather than just trusting what your insurance agent has to say, have your teen driver obtain a minimum of three different quotes, or more if possible. Be sure to compare ‘apples to apples’ when this shopping is taking place, though. This means that you’re going to want to compare equal coverage as often as possible. For instance, avoid getting a quote for insurance from one company that includes roadside assistance and comparing it to a quote that doesn’t include roadside assistance.

Review Review Review

Once you’ve got the best rate possible on car insurance for young drivers, it’s important for the teen driver to maintain the best rate possible. They should be made to understand that a wide variety of things, such as accidents and tickets can raise their insurance rates, impacting their monthly budget or even their ability to purchase certain vehicles. This means having your teen review their policy yearly to make sure that they’re still getting the best deal possible.

The Budget

Learning to budget their money is perhaps the most challenging aspect a teenager will face financially. By showing them how to shop for the best deal on car insurance before making a purchase, you’ll teach them that in every budget there exists a bit of ‘wiggle room,’ if you only know where to look for it.

To find more advice, click here