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At our Columbus Ohio Independent Insurance Agency we get parents who want to know how to keep their new teen drivers insurance premiums low?  Here are the top three ways. 

1. Shop, Shop, Shop.  If you shop your insurance you will be able to find rates from multiple insurance companies.  This will give you an idea of what a good rate is, and what a good rate is not.  I know most people live a busy lifestyle, and don't have time to shop their auto insurance with multiple companies.  It does take time and energy to shop with multiple insurance companies, I know.  Well, there is a solution to that. Find a local independent insurance agency.  They will do the shopping for you.  Most independent agents have appointments with multiple insurance companies and they can get rates from multiple insurance companies for you. Instead of calling up multiple insurance agents and giving out your personal information to more than one insurance agent, just call up an independent agent and you will only have to give out your personal information once. 

2. Keep your credit clean and in good standing.  Now a days credit is one of the biggest factors in your insurance premiums.  Most insurance companies use a insurance credit score for the head of household. The customer can choose the head of household, it can be the husband or wife. Let me give you an example.  If you know that in your household the husband had a bankruptcy and the wife has a 750 FICA score, then tell the agent that and he can use the wife as the head of household. This way you get the better rates due to better credit.  So if the head of household has good credit then the teen driver will benefit from that good insurance credit score. To keep a good insurance credit score make sure you pay all your bills on time, make sure 100% of your accounts are in good financial standings, and keep the balance on your credit cards low. Preferably keep the balance to 25% of the limit of the credit card.  Example: on a $1000 credit card don't carry over a $250 balance at any time. These are the biggest factors in your insurance credit score. 

3. Your new teen driver is going to get into an accident.  Its just the odds.  No way around it.  So what to do if your a parent?  Start by getting your teen driver a cheaper car. Preferably get a car that you can pay cash for. This way your new teen driver can learn to drive.  Also I know you love your new little teen driver, but they do not need a supped up 375HP muscle machine. Your new teen driver will have that car wrapped around a telephone pole before they hit 17. Once again its just the odds.  So what to do?  Get that car you paid cash for, and get just liability coverage on the car.  The two biggest expenses in teen rates are the Comprehensive and Collision coverage. By not having Comprehensive and Collision coverage you can cut your premium nearly in half.  Why are they so expensive?  Once again they will get into an accident, yes it's just the odds.  So try to stay away from a car that you will have to carry full coverage on until your new teen driver proves to you that they can drive.

One more thing.  Make sure you ask about discounts for you new teen driver.  Good student and teen driving courses are just some to inquire about. Your independent agent will be able to tell you what discount every company offers.

Columbus Insurance Market is now offering quotes on teen drivers.

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