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Three Main Ways to Cut Auto Insurance Costs for Male Teenaged Drivers

One of the most exciting times in a young man's life is when he first learns to drive and gets his first car. Unfortunately, this is also the time that you will need to purchase insurance for your teenaged driver. Teenaged, male drivers are the most expensive group to insure, due to the fact that statistically, they are the group involved in the most accidents. Not only do you have to worry about your child driving, you also have to work this new insurance payment into your budget. Luckily, there are a few things you can do to get cheaper auto insurance quotes for your young driver.
There are two reasons that you need to buy auto insurance for your teenaged driver: it's required by law, and it's the responsible thing to do as a driver on the road. Car insurance helps protect your child, the car, and others on the road in the case of an accident. If your teenager causes an accident, car insurance will help pay for the damages done to the other driver's car, as well as medical expenses. If your young driver is involved in an accident with someone else, insurance will help bridge the gap for any expenses the other driver's insurance does not cover.
As you can see, car insurance is very important. Unfortunately it is something you will need to pay for as long as you own a vehicle. This price can add up, so it is important to get the lowest price you can on the best insurance coverage you can find. Here are some tips:
  • Liability Coverage: If you are really on a tight budget, you can consider only purchasing liability coverage. This is the minimum required by law (although if you are financing a vehicle you might need other coverage). Liability coverage will help pay for another driver's losses if your teenager causes an accident, but will not pay for your child's own expenses. How much liability coverage required by law will depend on what state you live in, but most insurance companies will not let you purchase a policy without this minimum.
  • Consider raising your deductibles: If you purchase comprehensive or collision insurance, you can raise your deductible in order to get a lower premium. A deductible is the amount of money you are responsible for paying before your insurance company pays anything. Therefore the higher your deductible, the less the insurance company is responsible for. Saving them money allows them to give you a lower premium.
  • Comparison shop for policies: Like with almost any other purchase, you need to shop around for the best deal when it comes to auto insurance quotes. Although most companies look at the same factors when it comes to determining your quote, not all companies weigh these factors in the same manner. This means there can be hundreds of dollars differences across companies and between individuals. Obtaining multiple quotes is the best way to make sure you are paying a good price for your auto insurance.