Young Driver Car Insurance
Car insurance premiums are all about risk. Since young drivers get into more accidents than do other age groups, they’re considered a higher risk. Thus, insurance companies charge higher insurance premiums to cover them, sometimes much higher. Though this is often the case, there are still ways to get affordable car insurance for young drivers.
Type of Vehicle
The bigger and more expensive a car, the more expensive it is to insure. This makes sense; more expensive cars have more expensive parts, so if a driver gets into an accident, the bill for repairs will be higher. Given that young drivers are already considered higher risk because of their age, they should drive sensible cars that have many safety features. The greater the number of safety features, and the more modest the car, the lower the insurance premiums.
Driving History
Young drivers should keep a clean driving record, free of speeding and parking tickets. This helps prove to insurance companies that the driver is responsible and therefore a good risk, which will result in lower premiums. If they do get a traffic ticket, they should do traffic school so the ticket won’t affect insurance rates.
Credit History
Insurance companies rely, in part, on a driver’s credit history when determining insurance rates. Young drivers often don’t have a credit history of their own, so they can’t show that they’ve been responsible and paid their bills on time. Good credit history often leads to lower insurance premiums, so it might be beneficial for young drivers to establish credit in their names.
Take Defensive Driving
Young drivers can also take a defensive driving course to show insurance companies that they know how to be safe drivers. These courses can be taken at high schools or local community colleges, depending on the state. They may save young drivers up to $250 a year on insurance premiums.
Get Discounts
There are car insurance discounts, even for young drivers. Many companies have a good student discount, which rewards young drivers who are on their school’s Dean’s List or Honor Roll. Discounts can be as much as 10% per month. Companies also offer a low-mileage discount; if a young driver doesn’t need to drive very far, it’s another way to reduce insurance premiums. Finally, if young drivers can remain on their parents’ car insurance policy as a secondary driver, they can usually get lower rates. This varies from company to company, so parents should check with their insurers.
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