If you have a teen driver in New Jersey, you are probably paying a pretty penny for auto insurance. According to a new report released by Insurance.com, New Jersey has the second highest rates in the nation for insuring a teen driver.
Parents are paying an average of $6,200 to provide auto insurance for their teen driver. Louisiana is the only state with a higher average at just below $8,000. It can cost more than $2,100 to add your teen driver to your existing policy’s annual premium in New Jersey, too.
Luckily, there are some things you can do to cut those costs.
• Ask your insurance company about a “good student” discount. If your teen is a good student, there is a chance at getting a price break on their insurance. You can enjoy as much as a 15 percent price break with some companies.
• Spend time in the passenger’s seat. The more practice your teen gets, the less likely they are to get into an accident.
• Get a safer car for them to drive. Smaller and older cars cost more to insure than larger newer cars. Visit your Philadelphia area GMC dealer to find a larger vehicle that will meet their needs and cost less to insure.
• Check different companies. Some insurance companies could differ by as much as $2,000. All it takes is some research and patience to find the lowest price.
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