ifydcat Finding cheap car insurance for young drivers might seem impossible. Young drivers under 25 are charged higher rates by auto insurers, compared to older drivers, because of the higher statistical risk. However, there are some steps you can take to help lower the costs.
It is an unfortunate fact, but according to statistics young drivers are a much greater risk on the road then older, more experienced drivers. Experience is a great teacher in helping drivers avoid collisions. Insurers know this and that’s why the shock when you see a quote for insurance for a teen or young driver. Not all is lost though.
One of the things that many people don’t realize is that auto insurance rates vary from company to company. Certain companies may even specialize in offering competitive insurance to high risk consumers. Thus, one of the easiest steps you can take to lower your insurance costs is by getting comparison quotes. Quote shopping can lower your costs by hundreds.
The Insurance Information Institute recommends that you get at least three quotes from different providers. Te get the most accurate comparison so you can see how each company differs in rate, use the same amount of coverages, deductibles and mileage when you request your quote. These factors can affect your rate, so it’s good to keep them consistent.
One of the easiest ways to get quotes for young driver insurance is by visiting a comparison Web site. Comparison sites are great because you can simply fill out one form to get several quotes from different companies.
There are other ways to help lower the costs, and young drivers can take some responsibility for this. It goes without saying that you should maintain a squeeky clean driving record. Speeding tickets or at-fault accidents can get costly fast. Along those lines, taking a driver training or defensive driving class may qualify you for a discount from your insurer.
Another discount that’s almost always available is known as Good Student Discount. Getting good grades in school can get you some good savings on your premium.
Some people may raise their deductibles on collision and comprehensive to lower their premium. If you do this, you want to make sure you have the money to come up with the deductible in the event of a loss.
One thing financial experts recommend you don’t do is lower your limits of liability on car insurance for young drivers. In fact, they often recommend raising those limits. This is because of the greater liability risk that results if a young driver is at-fault in a collision. Yes, this may increase your premium, but the extra protection can be well worth it.
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