Saving Money On Young Driver Car Insurance
Statistically, young drivers are a lot more likely to be involved in car accidents – this can significantly increase the cost of auto insurance for teen drivers. When it comes to getting car insurance, new drivers don’t necessarily need their own insurance policy. It’s very common for the parents of these youngsters to add them to their insurance coverage as it works out a lot cheaper.
When parents add a young driver to their insurance policy, the premiums will increase, but not by a huge amount. The price that it increases by will still be a lot lower than a young driver getting an individual insurance policy. Here are some ways both the drivers, and their parents, can help reduce the cost of insurance.
How to reduce auto insurance
When it comes to insuring a young driver, many people automatically think of how costly it can be. There are many ways that young drivers and their parents can keep their insurance premiums down and affordable.
Young Drivers and Car Insurance
● Safe driver training course – Taking a safe driver course and successfully passing it is an excellent way to reduce your auto insurance. By passing the course, you are seen as a more reliable driver and less of a liability.
● Good grades – There are many auto insurance companies now that have a perk called good student discounts. If you are getting good grades in your education (a B average or higher), depending on your insurance company, you could get some well-earned discount.
● Higher deductible – Paying a higher deductible will help to lower your auto insurance premium. If you are on your parent’s insurance, you will need to get them to agree to increase the deductible.
● Driver’s Ed – Some states require young drivers to have driver’s ed but if your state does not, it’s worth enrolling in. If you can complete the driver’s ed course, depending on the insurance company you are with; you may be able to get some discount on your auto insurance.
● Avoid fancy vehicles – It’s every young driver’s dream to be able to pick out a brand new fancy car. If you are lucky enough to be able to do this, don’t. As a young driver, you’re much better off going for an older model. New models can be extortionate for young drivers to insure, so until you have a few more years of experience on your license, resist temptation and go for a car that costs less to insure.
● Increasing your deductible – By increasing your deductibles, your auto insurance rates will automatically lower.
● Multiple vehicle discounts – With most insurance companies, if you add another car to an insurance policy, you can receive some discount.
● Encourage a sensible vehicle – A luxury car will be expensive for your teen to insure. Encourage them to invest in a car that is an older model and one that also includes safety features, as this will cost a lot less to insure.
● Collision and comprehensive cover – If your teenager is driving a car that isn’t of much value, collision and comprehensive cover may be some insurance options that you don’t need. If your teen is driving a newer car that is not easily replaceable, then definitely consider having collision and comprehensive cover.
from Ed Cuellar Insurance Agency http://edcuellar.com/2016/09/18/young-driver-car-insurance/