Adding a teenage driver to your car insurance policy can increase your rates by more than 40%. There are some simple ways to lower that figure.
According to our Money Watch Q & A guest, Mark Jacobs with Farmers Insurance, you can take advantage of the good student discount, which requires a 3.0 grade point average or better. Bundling insurance policies with the same agent is also an option. Your credit score can play a role in your rates as well.
Also, consider the type of vehicle you are insuring. Sports cars or SUVs, which are more prone to rollovers, typically cost more to insure. Experts suggest buying a car with as many safety features as possible if you want the best rates.
To learn more, contact Mark Jacobs at his office after our Money Watch Q & A lines close.
Mark JacobsFarmers Insurance & Financial Services Agent 300 Los Altos Pkwy, Ste #101 Sparks, Nevada 89436Office: 775-354-1234 Fax: 775-354-1357Cell: 775-848-7775
Saturday, May 25 2013 2:16 AM EDT2013-05-25 06:16:04 GMT
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