Finding Affordable Teen Coverage

• 1). Sign your son up for a driver's education course. Many insurance companies offer discounts for the successful completion of these courses.
  
  
• 2). Scrap the new car idea. Giving your 16-year-old son a brand new car to drive will cause the premiums to skyrocket because the amount of loss possible is higher and because you may be required to purchase full coverage if the vehicle is being financed. Instead, purchase a used older model.
  
  
• 3). Contact multiple insurance companies for quotes. The costs of insuring a 16-year-old boy varies from provider to provider. Comparing costs can save money.
  
  
• 4). Request your son's transcripts or proof of grade point average from his school. Most insurance companies offer discounts for good students who are considered less risky to ensure. What is considered a "good student" varies from company to company, but the student usually needs a B average.
  
  
• 5). Increase deductibles on the policy. Because costs are based on risk, if you are willing to pay a higher deductible, then the insurance company takes on less of the risk in an accident. This lowers the premiums.