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4 Tips for Navigating New Teen Driver Sticker Shock

Your little one isn’t so little anymore.

Dealing with a new teen driver brings a lot of concern to any household.

Will they drive safely? What about other drivers?

Not to mention: your skyrocketing insurance premiums.

Adding a newly licensed driver to your plan isn’t easy, but Higgins Insurance is here to help. We know that you want to keep your son or daughter safe while giving them the freedom they deserve.

Before you know it, they’ll be out of the house (and we’ll be there for you when that happens, too).

4 Tips for Sticking to Your Budget with a New Teen Driver in the Home

Car insurance isn’t cheap and it isn’t something people enjoy opening their wallet for – but it’s a fact of life.

Did you know that full coverage for a newly licensed driver ranges between 2,000 and 4,000 depending on the car’s value and location?

Yes, that’s a lot – not many people could afford that added expense.

Not to mention, this rate usually lasts up to 9 years while the driver builds up conviction and accident-free driving.

And if they get into an accident or receive a ticket? That could increase your insurance premiums anywhere from 25 to 75 percent. Yikes.

You can’t change the fact that your teen needs car insurance, but you can do everything possible to make sure you find the lowest possible rate.

Higgins Insurance understands that you’re stressed – your little one is becoming an adult – that’s why we’re available 24/7 to answer any questions you have.

When you call Higgins Insurance, you get a warm and friendly voice on the other end of the phone – no matter what.

1.  Call Your Insurance Broker Before Making a Purchase

If you want to find the best rate possible, it’s very important to call around before making a purchase.
Don’t just go with the first quote you receive online through a website.

If you’ve been with your current insurance broker for a long time, they may be able to provide a reduced rate for your new teen driver.

Some insurance companies also offer discounts to teen drives who enroll in extra driver education courses or get good grades in school.

2.  Safety is Paramount

Believe it or not, safer options are also often much cheaper.

Skip the flashy cars with all the bells and whistles – go for something laid back and sturdy.

This doesn’t necessarily mean you have to buy your teen something completely hideous that they’ll hate – but do check safety ratings.

Find something modest that’s not only safe but inexpensive to fix should something break from wear and tear.

More good news: older and safer cars also come with a lower price tag in the insurance department.

3.  Look into High Tech Options

You now have more options than ever for making sure your new teen driver stays safe.

Lots of insurance companies offer special devices that monitor your teen’s driving habits. The apps sometimes provide advice to improve their driving ability.

Chances are, these insurance companies will also lower your rate if your teen turns out to be a conservative driver.

4.  Think Long-term

Keep in mind that in addition to insurance, you’ll need to pay for repairs.

Even if your teen is an excellent driver, things break and cars require maintenance.

Buy something you know you can afford to keep-up – don’t bank on your teen working a job to pay for all the costs.

Higgins Insurance is Here to Help You Navigate the Changes

Higgins Insurance knows that it isn’t always easy navigating choices and coverage plans. As the fastest growing independent insurance broker across the Maritime Provinces, we’re here to help.

We have 20 years of experience and research under our belt and we want to make your life just a little easier. As a family owned and operated company, we strive to treat our clients like family.

At Higgins Insurance, we know that each family is unique, that’s why we tailor plans to fit exactly what you need and nothing you don’t. If your home has a new teen driver or you’re interested in changing your coverage, contact Higgins Insurance today to request a quote.

If you have the Higgins Insurance app, you can change your plan from your phone at any time. Don’t worry, you can still call 24/7 at 866-273-2911.

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