Why are teen rates usually so high?
Teens tend to have more accidents because they have less experience as drivers. So, even if you have a clean record, your rates reflect the overall teen track record. Here are some things you should know about your rate. Sure — it might not help much now, but it could help you get a lower rate in the future.
Things you can do now:
You could save money by staying on your parents' policy.
Your parents are eligible for a lot of price breaks that you probably can't get, like discounts for owning a home, having several vehicles, being married, etc.
You might be eligible for discounts from other companies.
Other insurance companies offer discounts to teens, for good grades or taking a driving class. Although that might not mean that their rates are lower than ours, you should shop around to see what discounts are available and if you qualify.
Things you can do later:
You can expect your rate to go down with time.
At age 19, if you have a Progressive rate, it could drop by as much as 35 percent. At age 21, it could drop an additional 25 percent. The main message: Keep shopping as you get older to see if you get a lower rate.
You can do things now that will help lower your rate later.
Age is only one factor we consider — a clean driving record, good credit history, and prior insurance could help you keep your rates lower in the future.