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Pam's Insurance Site

When I bought my first house, I was already going into a lot of debt. I didn't have the money to seriously insure it, so I bought only the bare minimum without consulting an insurance professional. That was a big mistake on my part. It could have turned out alright. That is, if my house hadn't been in the path of a huge storm. Huge gale winds knocked a tree down straight through my roof. My house was practically destroyed, and my minimal policy didn't cover nearly enough. I spent years and years trying to get myself out of that financial mess. Since then, I have always been very cautious in learning about insurance and talking to the real professionals.

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Keeping Your Teen's Auto Insurance Rates Low

Obtaining a driver's license is often considered a milestone in a person's life. Since most people obtain their driver's license as a teenager, it's important that you know how to keep your teen's auto insurance rates low. Teen drivers can be considered high-risk, which results in higher auto insurance premiums.

Here are three tips that you can use to help reduce the costs associated with insuring your teen driver in the future.

1. Encourage your child to get good grades.

If you want to reduce the amount of money you are spending on your teen's auto insurance each month, then encouraging your child to perform well in school can be beneficial. Many auto insurance companies offer discounts for good students.

The theory is that is requires discipline and responsibility to obtain good grades in school, and these qualities are also required to be a good driver. If a teen can demonstrate his or her ability to perform well in the classroom, they will often be rewarded with more affordable auto insurance rates over time.

2. Enroll your teen in a defensive driving course.

Teen drivers don't have the experience required to be prepared to react to all situations they may face when behind the wheel of a car. This makes it more likely that a teen will be involved in an accident in the future. Auto insurance companies offset this increased risk by charging a higher monthly premium for policies that insure teen drivers.

By enrolling your teen in a defensive driving course, you help him or her gain valuable information that will lead to safer driving practices. Your auto insurance company may offer a discount when your teen completes a defensive driving course, so these instructional courses can be valuable in helping you keep insurance costs low.

3. Purchase a reliable used car for your teen.

The type of car that your teen drives regularly can affect the amount of money you will spend on his or her insurance premiums. In order to keep auto insurance costs low, invest in a reliable used car for your teen.

Check with your insurance agent to determine which makes and models are the most affordable to insure, then use this information to help inform your purchasing decision when it comes to supplying your teen with a car in the future.

Finding ways to reduce your teen's auto insurance rates will help you keep your total insurance expenditures low over time.