4 ways to save once your teen is a licensed driver
If you have a son or daughter who’s taking driver’s ed classes in school or over the summer, chances are you might be purchasing another car since there’s going to be another driver in the family.
With the purchase of a new or used car comes the burden of adding another car to your current insurance policy. Even if you aren’t adding a new car, your teen is most likely going to be driving your car so you need to make sure they’re added to your existing policy (gulp) so they’re protected, too. But, we promise it’s not as expensive as it may sound! And in fact, to save money on their insurance, most families add their teen to their existing policy instead of giving them their own.
Adding a teen to your policy may seem like a heavy price tag, but there are actually several ways you can save money when you have multiple cars to insure. Here are a few of them:
Good Student discount
It’s simple: Higher grades, lower premiums. When your teen’s grade point average goes up, your insurance costs can go down through Elephant’s good student discount. Students who are taking a full course load may be eligible for a sizable discountdepending on your type of policy. Plus it isn’t just high schoolers who can take advantage of this discount. If your child is in college – and is under the age of 26 – they too can take advantage of these savings with a 3.0 GPA or better.
Safe driving habits
Are you a safe driver? When you drive safely, you should be rewarded for keeping the roads safe! The longer you and your family go accident-free, the less you should have to pay in premiums. At Elephant, safe drivers tend to pay less when they file fewer claims.
Speaking of safety, if you or your teen’s car has safety features like a backup camera, Bluetooth technology, or crash avoidance features, you’re in luck! We believe drivers who make safe choices like driving safe cars should be rewarded. That’s why we give a discount to our drivers with cars that have advanced safety features.
More cars? More savings. For many families, multiple cars are needed to keep a household running smoothly. However, many people get anxious thinking about having to cover more than one car on their insurance. So will your premiums skyrocket with the addition of a teenage driver? With the Multi-Car discount from Elephant, you can save up to 20% on your existing policy. And a bonus perk, all cars can live seamlessly on one policy so you don’t have to worry about keeping up with different policies.
One of Elephant’s most unique features is its Diminishing Deductible program. It works by rewarding you and your family for responsible driving. For instance, let’s say you start with a $500 deductible. For every year you go accident-free, that deductible drops by $100. That means that in five years’ time, you most likely won’t have to pay anything out of pocket should you need to file a claim.
Adding a teen driver onto your policy might seem nerve-wracking (and let’s be honest, expensive), but Elephant makes it easy with discounts to help your new teen driver stay protected without breaking the bank.