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Auto Insurance Tips for Young Drivers
According to statistics, young drivers under 25, especially males, belong to a high risk group, i.e. those who tend to make insurance claims more often than any other group of drivers. Young drivers have less experience and therefore are much more likely to have accidents than older drivers. As a rule, it takes at least three years of driving experience to be quoted a lower rate.
For many newly-qualified drivers under 25-years-old insuring their car makes the most expensive part of driving. It is natural that young drivers are looking for ways to lower their Auto Insurance rates. There are certain steps they can undertake to get the best deal.
Besides some obvious recommendations, like keeping one's vehicle record clean and practicing safe and careful driving, there are other important things that a young driver can do in order not to fall under the above mentioned statistics data and try and get the cheapest possible Car Insurance rates.
It pays to get as many insurance quotes as possible from a number of insurance companies. For example, you can compare Auto Insurance quotes from at least five reputable quote sites. You will see that one and the same coverage may considerably vary in price from company to company. Your own research and comparison will guarantee you get a cheaper rate.
Note that some cars are cheaper to insure. As a young driver, you will pay less for your Car Insurance in case you opt for a car with a lower engine capacity, for example. Typically, the more expensive a car is and the more expensive it is to maintain and repair it, the higher the Car Insurance rates will be. It would be wise to get insurance quotes online for different cars to see which choice will help keep your premiums low. In other words, purchasing a small car will definitely be a smarter choice than sports car for young drivers.
A safer car is great not only for safety reasons. Safety features and anti-theft devices are likely to get you lower rates. Insurers are likely to offer discounts in case there are some features of a vehicle which make it safer, less likely to be stolen and thus reduce the chance of an insurance claim. A good quality alarm with an immobilizer, parking in a secure garage or off road and other safety features and measures do not only protect your car, reduce the risk of theft, accidental damage or break ins, but also have a positive impact on your insurance bills.
A Defensive Driving Course can be useful in earning you a reduction of your premium as well. Some Car Insurance companies will offer you a lower premium if they regard you as a safer driver.
It is a good idea to roll in some training programs setup by driving instruction organizations within a year of passing the driving test. Such programs are aimed at the new, young drivers. Practicing driving in different weather conditions, at night, etc will help you make a safer driver, which in its turn, will enable insurance companies to regard you as lower risk and offer you discounts. Auto Safety Classes will also help prevent accidents and make cheaper Auto Insurance rates a reality for you.
Insurance companies usually charge more if the car you are insuring has some modifications on it. Modifications that increase the value, performance and attractiveness of your vehicle to thieves will inevitably make your insurance premium higher. In case your car has already been altered from the factory specification, shop around as insurers tend to judge modifications differently. Spoilers, trim kits and turbo kits tend to give a negative image of your driving style and attitude to safety to your insurer, which will surely reflect on your bills.
If a young driver needs to insure his/her car and they still live with their parents, it may be a good idea to stick with their parents' Car Insurance Policy and get cheaper premiums. Also, parents can put your car on their policy and receive a discount for multiple cars on one Car Insurance policy. For instance, if you have four drivers in the family, it can be a good option to combine all autos into one policy and take advantage of the multi-car discount. Young drivers can opt to be a Named Driver on their parent's insurance. As soon as you turn 25 you can get your own policy at a reasonable premium.
In case you are an older driver but have received your license just recently, you may opt for getting your full driving experience since the age of 16 automatically. This will normally give you a more attractive rate.
You can reduce your rate by increasing your deductible. Also, choosing to pay your premiums annually, you can avoid expensive rates due to transaction charges. Some insurance companies provide extras such as paying premiums in installments.
Building up a no-claims bonus is another way to reduce your Car Insurance premiums though it takes longer. As a young driver you can prove that you are less risky and you are likely to get quite sizeable percentage discounts.
If you reduce your annual mileage, you may also be entitled to a discount. The logic is simple: the more time you spend driving your car, the more chances you have to be involved in some kind of road accident, consequently, the higher risk you present to an Auto Insurance provider.
It always pays to be a good student. If you study well, it will attract cheaper Car Insurance rates. Auto insurers consider students with decent grades to be more responsible and less reckless on the road as well. In other words, a good report card from college can compensate a student's lack of a driving history.
Some young drivers choose third-party, fire and theft cover because it is cheaper. However, it is essential to fully understand the type of coverage you need for your situation. For more expensive cars comprehensive insurance will certainly work out cheaper. In general, Comprehensive Car Insurance is usually worth the extra cost as this type of cover offers a number of advantages.
It may be tempting to underestimate your mileage or somehow mislead your insurer in order to get a lower quote. It is a very slippery slope, as in case you have cheated or provided false details, your insurance claim is most likely to be rejected. It means that after an accident you will have to pay for the whole situation on your own.