When our kids reach a certain point in their lives, we all know it’s time for “the talk”: that uncomfortable dialog in
which we explain the basics of life. And, though we don’t exactly look forward to this discussion, we know it’s for our children’s best–and we’d much rather they heard it from us than the troublemaker down the street.

But do we take our own advice? No, I’m not talking about the birds and the bees. I’m actually talking about car insurance.

What? you’re saying just about now. Let me explain.

We give our kids advice, teach them about life, groom them to be responsible adults and teach them to make wise decisions. But we often learn our own lessons the hard way–like discovering what a recent article on Bankrate.com calls “the auto insurance facts of life.”

OK, so it’s a cheesy analogy…but go with me on this one, would ya?

If you drive a car, you need auto insurance…it’s really as simple as that. So, in the spirit of passing along tidbits of wisdom as we do for our kids, I’d like to offer up a few tips for making the most of your auto insurance policy, courtesy of Bankrate.com:

• Spend your money wisely. This may seem like common sense, but many people don’t know what–or how much–to insure against. Talking to an insurance professional you trust is the only sure way to find a policy that works for you.
• Keep a strong credit rating.Many insurance companies use your scores to determine whether or not they’ll insure you–and how much they’ll charge if they do.
• Take advantage of every discount.If you haven’t had a ticket for three years or more, you’ve earned yourself a discount. You can also save money on your premiums by storing your car in a garage, rather than parking it on the street; driving less than a set number of miles annually; installing safety or anti-theft devices, and other conditions which make you and your car less of a risk to your insurer.
• If your teen goes away to college, take him or her off your auto policy.This can save you some serious money; according to the Insurance Information Institute, teen drivers add from 50 to 500 percent to your premiums.

[For more tips on getting the most from your auto insurance, see the Bankrate article here.]

OK, that’s enough parental wisdom for one day. Enjoy the weekend…and drive safely!