Many parents and students will find car insurance is expensive for young drivers. Why is this? If you have tried to find inexpensive car insurance for a youthful driver, you have likely found this is a difficult task!
Do you know why car insurance is expensive for younger drivers?
Insurance companies have research and data to help them determine different rates for different groups of drivers. Research shows that due to a lack of experience behind the wheel, young drivers get into more accidents than the average adult, which puts young drivers into a higher risk category. This is the primary reason why young drivers pay a much higher premium for their insurance. You may think you are a safe driver, and you probably are! But statistics show that there is a good chance you will be involved in an accident.
There are a number of ways to reduce auto insurance premiums for young drivers.
1: Be a defensive driver. A huge percentage of new drivers are involved in car accidents the year they receive their licenses, which is why some insurance companies are hesitant on whether they should insure them or not. Consider improving your driving skills and take a defensive driving course. These classes can be taken in a classroom setting or online. Some insurance companies will lower your premium up to 10% with proof of completion of the course.
2: Add credits for security features on your car. Make sure your agent or insurance company is applying discounts for all safety devices. Some examples include anti-theft devices like car alarms or safety features like airbags and anti-lock brakes.
3: Don’t drive without insurance. There are plenty of reasons why new drivers need auto insurance. If you think you will save money by driving without insurance, you are wrong. If you are involved in a car accident and you don’t have insurance coverage, the consequences could be much bigger than you realize. You could be in trouble with the law as well as facing hefty repair and medical bills. However, if you do have insurance coverage, your insurance company will pay for all of the damages that were caused by the car accident.
Essentially, if you are one of many new drivers that want peace of mind, then make sure to purchase comprehensive auto insurance coverage. The above are a few steps you can take to lower your premium, but until you have more driving experience and become older, you are likely to face quite high rates for your insurance.
Some other strategies to protect young drivers:
- Complete a driver training class
- Look for student and good grade discounts
- Avoid texting and driving
- Find discounts based on safer car models rather than having the same rate as the most expensive models
- Increase physical damage deductibles, or, with older vehicles, eliminate this coverage
Most importantly, don’t get a cheaper price at the expense of good coverage.
These are just a few ways to keep the price of your car insurance down. If this seems like a lot to remember… it is. That is why we recommend you work with our insurance experts here at Effective Coverage to find you the best policy at the best price.
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