Car insurance rate

Cheaper car insurance rates: If you have a young driver then you certainly know how much that has done to raise your rates astronomically. I’ll just share three simple tips to help you shave off up to 50% while keeping your teen safe…

1. You’ll get cheaper rates if you make your payments by Electronic Funds Transfer (EFT). it authorizes your bank to credit your insurance provider with your premiums automatically until you stipulate to the contrary. This saves costs by removing the need for payment notices or checks. This is why this results in cheaper premium.

2. It’s a known fact that young drivers attract high rates. More so, the younger an under-25 driver, the more they’d have to pay. That is why teenagers pay a lot more than 22-year olds. You’ll do well to NOT place your teenage driver on your policy. It will have an adverse effect on your rate.

Your teen driver should have his/her own policy. This will be made possible if you sign an exclusion form. It’s a fair price for them to pay to enjoy the adult privilege of driving. This act will save you more than money as your teen driver will happily listen when suggestions are made on things that will bring down the high rates they pay.

The full implication of this is that your teen will be a lot safer as they’d do their best to avoid inflating their rates.

3. Simple as it is, get and compare quotes from five or more reputable sites. You’ll be surprised at how much less you could really pay if you find the right insurer. All it will take is just about five minutes per site and you could be saving from a few hundred bucks to over a thousand depending on your profile and needs.

By: Chimezirim Chinecherem Odimba

Tags: Adverse Effect, Car Insurance Rates, Cheaper Car Insurance, Checks, Contrary, Credit Insurance, Electronic Funds, Five Minutes, Implication, Insurance Provider, Insurer, Known Fact, Premiums, Privilege, Quotes, Teen Driver, Teen Drivers, Teenage Driver, Teenagers, Young Drivers