Cheap car insurance for teens seems like an impossible dream. With teenage drivers twice as likely to be involved in an auto accident than a driver over the age of 25, there's no wonder auto insurance is sky high. But don't give up. Read these five tips to learn how to cut your insurance costs while insuring your teenager.

Cheap Car Insurance Tips

Tip #1 -- Add your teen to your existing car insurance policy

Instead of taking out a separate policy for your teen, add her to your policy. Doing this might raise your premium but it is cheaper than getting a separate policy. On the bright side, you might get a discount for adding another car to your policy and the discount could equal the raise in your premium -- so it equals out.

Tip #2 -- Good grades

Many car insurance companies offer a "good grade" discount. Studies show that students that consistently make good grades tend to be more responsible even when it comes to driving. So if your teen gets good grades, it's not only a plus at school but for your checkbook too!

Your policyholder may also give you a discount if your teen has taken and passed a driver's education class at school.

Tip #3 -- Drive an older car

Now, this isn't going to be too popular with your teenager, but if you want to save money, this is one way to do it. Buying your teen a new car or a sporty car spells death to your insurance bill. Insurance companies always charge more for flashy cars especially when there is a teenage driver behind the wheel.

Tip #4 -- Choose a higher deductible

Auto insurance that has a higher deductible usually has a lower premium. So if you are prepared to cover minor bumps and bangs, this is a way to lower your cost.

Tip #5 -- Safety features

While you don't want to get your teen a flashy car that will raise your rates, it pays to have them drive a car that has extra safety features like air bags. Safety features reduce the rate of injury and the auto insurance companies take this into consideration.

Use these 5 tips when doing your insurance comparisons. Be sure and ask your insurance agent what discounts he can give you based on these tips and you'll find that cheap car insurance for teens isn't just a dream after all.