Whenever you’re looking for a BMW vehicle for sale, you should head over to our Peabody, MA BMW dealership to check out the latest BMW models in our new car inventory. While you may expect your car insurance premium to change when you add a new vehicle to your auto insurance policy, many parents are surprised by how much their premium will increase when they add a teen driver.
In 2013, adding just one teenager to a policy increased the cost of coverage by an average of 85 percent. In 2017, doing the same thing increased annual auto insurance premiums by an average of 78 percent. While that’s a considerable reduction in just four years, adding a teen driver to an auto insurance policy can still cost hundreds of dollars annually.
Although it can be costly to add a teen driver to a policy, there are some things you and your child can do to keep your premium as low as possible. To start, you can ask your insurance carrier if any discounts are available. Some insurers will offer a discount if a teen driver is a good student. If your insurance company offers such a discount, encourage and support your child to work hard and earn good grades.
If your insurance company offers a discount for kids who’ve completed a driver’s education class, enroll your teenager in the class and let your insurer know once your child has completed the course. You might be eligible for a discount if you add a telematics device to your car to monitor your child’s driving as well.
Do you have a teen driver in your family? If so, head over to BMW of Peabody on Andover Street so we can talk to you about insurance tips and options. Once you have all the info, browse our inventory to find a great BMW model for your teen driver!