Best Car Insurance Companies Lake Oswego
If you live in or near Lake Oswego, OR, finding the best car insurance companies starts with a call to Schmidt Insurance Group. We help our clients find the right amount of coverage to fit their needs and their budgets. Accidents happen, and when they do, you’ll be glad you’re protected!
Avoid These Mistakes When Covering a Teenager
If your teen is old enough to drive, and you’re freaked out by them getting behind the wheel, it’s important to ensure their safety on the road with the right car insurance coverage.
At Schmidt Insurance Group, we provide you with the best coverage possible at a reasonable price, no matter your age. Here are a few potentially costly mistakes you should try to avoid.
- Getting Them a Separate Policy
When considering car insurance for your teen driver, there are usually two options – getting them their own auto policy or adding them to your existing policy. While adding your teen to your policy will definitely cause your premium to increase, it may save you money in the long run. The cost of the premium increase will typically be less than the cost of getting a totally separate policy for your teen. You’ll also be able to take advantage of multi-vehicle discounts that may be available,
- Failing to Use Available Discounts
As you evaluate car insurance coverage for your teen, ask our team at Schmidt Insurance Group about discounts you may qualify for and take advantage of them. The most popular discounts for teen drivers often include getting good grades as full-time students; attending school more than 100 miles away from home (and the car), making them an “occasional” driver; and taking driver education or driver safety courses.
Some insurers also let you assign specific cars to specific drivers. For example, let’s say you have three cars in the family – a 2019 Nissan GT-R (one of the most expensive cars in the country to insure), a 2019 Ford Edge SUV, and a 2012 Honda Accord. Your premiums could skyrocket if your insurance carrier assumes that your teen is driving your Nissan GT-R instead of the Honda!
- Getting Low Liability Limits
There is a reason teen drivers are expensive to insure. They are more likely to cause accidents than any other group of drivers. One of the biggest mistakes you can make is to choose low liability limits. The state of Oregon requires drivers to have a minimum of $25,000 in liability coverage per person and $50,000 per incident. In many cases, this is not enough protection.
Lawsuits are prevalent these days, and the payouts are only getting higher. If your teen driver causes a bad accident and is sued, his or her liability insurance would pay first, but only up to the limits stated in the policy. This means that if he or she is covered for $25,000 worth of liability and causes $300,000 worth of damage, you or your teen would be on the hook for $275,000. In many cases, you can double or triple the liability coverage without it costing an arm and a leg.
If you are looking for the best car insurance companies in Lake Oswego, get the help you need from the experts at Schmidt Insurance Group. Call us today at (503) 206-0881 for more information, or stop in for a visit.
