Car insurance for young drivers at an affordable premium is a challenge!
Life is a series of passages generally marked by age. Typically you enter high school and have greater freedom at 14, you can get a license at 16 in most states and you can vote at 18. But you’ll have to wait until 25 before your age doesn’t penalize you in the auto insurance marketplace. So, how can you save money? Here are some tips on how you can save on young driver car insurance.
Let’s begin with driver training. Many states require a driver’s training course to receive a license. This is by no means universal and some will still allow a licensed driver over the age of 21 to instruct a driver after they obtain a learner’s permit. With some insurance companies, a driver’s training course and its completion with a passing grade can help reduce insurance costs. Taking a defensive driving course after completing a regular driver’s course can also help reduce costs.
A growing number of insurance companies will offer discounts to drivers who operate vehicles that have monitoring devices that assess their driving ability and adherence to speed and traffic laws.
Your first car can save money if it’s not a high-powered sports model and rather than having it titled in your name you get it titled in your parent or guardian’s name. In that way, you can be added to your parent’s policy as the principal driver. Generally, this is less expensive than seeking an individual policy for yourself if you are less than 25. A plain-Jane sedan will cost less than a sporty convertible too!
Are you a good student? Teenager auto insurance discounts are available to full-time students in both high school and onward ending at age 25. High school and college students who are enrolled full time and maintain a minimum of a B average can save from 10-35% on premiums.
For those who are on parent or guardian’s policies, there are +multi car discounts available. These discounts generally apply to vehicles kept at the same place but most companies will make an exception for a college student whose vehicle is in the same state. Though not strictly available car insurance for high risk drivers, that young person’s parent/guardian may consider bundling their home and auto policies together from the same company, a practice that can save a minimum of 10%.
Finally and most importantly is making comparative shopping for insurance coverage a task that is done at least on an annual basis. An internet site like ConsumerCoverage can provide free comparative insurance quotes that can provide premium information in a way that allows direct comparisons to see who provides the most coverage for the lowest premium. From the convenience of home, office, or your phone you can obtain information about discounts and the variety of ways in which you can save money when purchasing coverage for young drivers.
At consumer coverage a trusted internet source for all forms of personal insurance you can research insurance for health, including individual, family, and Medicare Advantage plans. Homeowners/Renters insurance to protect not only your home but all the valuables in it. Whole and universal life insurance plans or term life plans that protect the family during the wage earners working years and final expense plan to provide for funeral costs. Finally, vehicle insurance plans are available for all the vehicles and drivers in the household.
