Young Drivers Car Insurance

Nearly every parent starts to worry when their child comes of age! And young students driving their own cars are a potential nightmare for everyone: parents as well as other drivers! That’s the reason why almost every parent insists that their young student drivers get a good insurance cover on their family car to protect themselves from any damage in case of accidents. But the fact is that car insurance for young drivers is very much different from that of adults and here’s how it goes!

Why Insurance Companies Demand Higher Premiums for Teenagers?

Here are some reasons why insurance companies demand higher premiums for teenagers:

Inexperience

Statistically, younger drivers have lesser experience dealing with driving and are more likely to cause accidents which mean more claims on the insurance company! And more claims mean a higher insurance premium!

Age

Age is another factor. Drivers below the age of 25 will have to pay more simply because they are too young to have any experience with the rigors of driving

Younger Males

Similarly young male men have to pay more on their insurance premiums over women as they are considered a higher risk for accidents

Marital Status

A married person will have to pay less than an single person with the same driving record.

Driving Violations

If you have several accidents or traffic violations on your record, then that means that you will have to pay higher premiums for a car insurance policy. A few insurance companies will hike premiums for more than five years after your violations. But as your record improves, your car insurance premium will decrease.

Credit Rating

If your credit rating as a young student was not that good or is bad at present then get ready for some higher insurance premiums. Monitor your credit ratings to see how you can improve them to get a better deal on your car insurance.

Education

This is pretty weird but statistically a student who is studying for higher education is likely to have a lower insurance premium! A higher education can save on your premiums.

Theft Protection Devices

If you don’t have theft protection, then here’s one good reason to get it. A good theft protection device can cut your young student insurance by a considerable amount!

Make Sure that Car Insurance for Young Drivers is As Less As Possible

Shop Around

It’s very essential that you ask around and compare quotes as they differ at different companies. There are several sites where different companies are placed online and offer their quotes on the spot for a particular situation. Insurance companies can also offer premiums based on your driving history. As different companies have different criteria for the amount of premiums you have to pay; make sure you find out which one is the best for you before you sign up.

A No-Claims Bonus

It can be expensive but you should get insurance as soon as possible as it looks good on future applications. As soon as you have applied you should also start building up your “no claims” bonus which can get you up a discount of up to 70%. There is a chance that you can add yourself to someone else’s insurance policy too but that means you cannot build up your own “no claims” bonus as this comes to the person who you have signed up with. The earlier you start with this benefit the better.

The Pass Plus Test

Other than getting your individual insurance as soon as possible; there is the Pass Plus testing you should take to get your premiums to a minimum. It is extra effort and expense but its worth it in the long run. Several car insurers check whether you have taken the test and then offer a good discount if you’ve passed the test. But you have to find out whether your company is offering it. And do get fire and theft insurance too at the same time!

Auto Safety Features

Several states also offer discounts if you have good anti- theft protection on your car. There are different discounts offered on two and four wheel anti-lock break vehicles so you will have to ask and find out. Automatic seatbelts and airbags are also considered for discounts on your insurance premiums. There is also a special defensive driver class discount that is available for drivers who have taken the class. But the class is considered for a discount only if you have taken the class voluntarily and not as a result of a violation or infraction of driving rules.

Staying With The Same Company

It’s a good idea to stick with the same insurance company for a long time. The reason being that several insurance companies offer substantial discounts on the premiums for customers who have been with them for a long time and do not have any accidents reported.  You also get a discount if you have prior limits on your previous policy.  You are also considered a good risk because of this previous limit.

Flashy Cars

As a young driver you cannot really afford flashy cars but the more expensive the car the more you premium will be. The simple reason that a flashy red car will cost more and any accident will make it more expensive to repair. And it’s also a fact that these expensive cars are preferred by thieves. They are also carried by the police on a list of most stolen.

There are several ways that you can save on your car insurance for young drivers. It’s a good idea to keep a close eye on the discounts that companies offer specifically for young drivers. But at the same time please do drive safely as everything depends on that.