How Much Will It Cost to Add My Teen Driver?
This is a common question posed to Insurance Companies, and many times, comes with tough answers for parents.
The cost of adding a Teen Driver to your Insurance Policy in Philadelphia and the surrounding suburbs can be shocking. Below are a few factors that will play a role in your insurance pricing.
Did your child take a certified Driver Training School?
Does your child qualify for a Good Student Discount?
Does your child live at home, or are they away at college, without the vehicle?
How old is the vehicle that your child will be driving?
What is the value of the vehicle that your child will be driving?
What can I do to reduce costs when adding my Teen Driver?
Consider the age and value of the vehicles that you are insuring. Your insurance will be priced better, if your son or daughter is using an older vehicle,that does not require physical damage coverage.
If your child will be using a vehicle that requires physical damage coverage, consider increases the deductibles. You might be surprised with the savings when increasing your deductible from $500 to $1000.
Make sure your child completes a safe driving classroom and road course. Remember, keeping your child safe is most important, and receiving lower insurance rates, is just an added bonus.
Don’t accept pricing from just one Insurance Company, seek out pricing from more than one Insurance Company
The largest premium increase takes place, when a parent adds their 16 or 17 year old driver. You can count on an increase of 50% or more, when your Teenager is licensed.
Does your Insurance Agent have access to pricing from more than one company? If you call an 800# for your Auto Insurance, you are only provided with one pricing option.
If you call an Insurance Agent for your Auto Insurance, ask if they represent more than one company. If the answer is no, it is time to shop your Insurance.
I don’t have time to shop my Insurance, and shopping for Auto Insurance is not fun
Two great points, and that is why contacting an Independent Agency is your best option, when your teenage driver gets licensed.
An Independent Agency partners with multiple Insurance Companies to find their clients the best coverage and pricing. An Independent Agency or “Broker” is free to choose the best Insurance Company for their client’s insurance needs. An Independent Agency or “Broker” does not work for the Insurance Company, they work for you, the Client.
If you think it’s time to review your Auto Insurance Needs, contact a friendly Agent at McCollum Insurance. We have two locations to serve the needs of our growing Agency.
We are located on Main Street in Manayunk. This location allows us to serve the needs of our clients in Roxborough, Manayunk, East Falls, Chestnut Hill, Center City Philadelphia, and our clients in the suburbs of Montgomery County.
We have a 2nd location on Providence Rd in Newtown Square. This location allows us to serve the needs of our clients in Havertown, Drexel Hill, Broomall, Newtown Square, Glen Mills, and our clients in the suburbs of Chester County.