Cheap car insurance for young drivers

Cheap car insurance for young drivers

For parents, insuring young drivers can boost monthly car insurance premiums. The folks at US News ran the numbers. Adding a teen driver to a policy can increase the premium by 111%. When a parent buys a car for their teen and adds it to a policy, premiums can increase by 156%.

There is a fundamental reason why young drivers are more expensive to insure: they are statistically more likely to be involved in an accident. Here are some telling statistics:

  • According to the Centers for Disease Control and Prevention: Car crashes were the leading cause of death for teens
  • The Highway Safety Insurance Institute reports that teenage drivers aged 16 to 19 are three times more likely to be involved in a fatal crash than a driver over 20.
  • Young drivers are more likely to be distracted by cell phones, GPS, or talking with friends, affecting 58% of crashes involving teens. Reported by AAA Road Safety Foundation

Young drivers who make their car insurance payments, know how expensive it is to be an inexperienced driver. Wouldn’t it be great if someone made some cheap car insurance for young drivers? has tips for reducing the cost of car insurance while maintaining the coverage limits that young drivers need.

Why do young drivers need cheaper car insurance?

We understand why it is so expensive to insure young drivers. The odds of a young driver being involved in an incident requiring compensation from the car insurance company are higher than older, older drivers.

The problem is that for young drivers who insure themselves, it is a difficult cost to bear. Most young drivers work part-time in jobs that pay minimum wage or near it, which means that much, if not all, of their income, goes to expenses like insurance payments and gas. For these drivers, cheap car insurance is essential to their financial well-being.

As the economy recovers, there aren’t many parents willing to shoulder the high cost of car insurance payments for their young drivers. Parents paying their child’s insurance premium often feel the pressure, especially if they have more than one young driver on their car insurance policy at a time. For them, cheap car insurance for young drivers would save them a lot of worry and money. It is therefore surprising that so many parents simply add their young drivers to their existing car insurance policy without doing anything to reduce the cost.

How can I get cheaper car insurance for young drivers?

There are several steps you can take to get cheap car insurance for young drivers. What’s the difference if you change your coverage levels? How about going with an insurer that isn’t a big name, but offers a better deal? Comparing prices is the easy part, here are some additional tips to bring your price down.

Look for discounts

Try to qualify for as many discounts as possible. From good discounts for students to safe driver discounts, there are plenty of discounts available for young drivers and you can save a lot of money through these alone. Be sure to ask your insurer about other discounts you may be eligible for.

Discounts exist for college drivers going to school. Simply updating the mileage you drive could lower your rates. Oh, and don’t forget the discounts for good grades too! They add up so look for as much as you can qualify. You do not know where to start? We recommend that you speak with your current insurance agent. Tell them you need to reduce your rates, then ask if they offer any discounts you might qualify for as a student or parent of a student.

Try Driver Safety Courses

There is a wide range of driver safety courses available for young drivers. Completing these courses can lower auto insurance costs and turn expensive auto insurance into cheap auto insurance. Many states even require your insurance provider to give you a discount for taking the course. Discounts range from five percent to 20 percent. Learn more about driver safety courses and car insurance savings.

Driving a less exciting car

Statistics have shown that teenage drivers are more likely to be involved in serious accidents. It’s not helped by the type of car young drivers like to explore. Almost 50% of people who own a Mitsubishi Lancer, Volkswagen GTI, and Subaru Impreza are Millennials.

It’s tough being a young driver. You want to drive a nice car. You want everyone to see how cool you are and driving a soccer-mom minivan or your dad’s safe sedan won’t give you cool points. However, driving a less exciting car can significantly reduce the amount you pay in car insurance premiums. You can’t get stuck in a Honda Odyssey vs a Ford Focus RS too, but that’s what insurance companies love about them. So maybe settle for the four-door, four-cylinder car instead of the 2.0-liter turbo and use that money you saved for something else.

Have you watched your driving?

Having someone judge your driving might not sound like much fun, but installing a little black box in your car could help you save money. A whole series of companies are turning to “telematics”. It’s when you install a small device in your car or download an app and it tracks your driving for things like speed, hard braking, and what times of day you’re driving.

If you are a good driver, you can get a premium adjustment after a few months of monitoring. Some insurers offer discounts for not driving between 11 pm and 5 am or for limiting the number of miles you drive.

Compare car insurance prices

One way you can find cheap car insurance for young drivers is to compare car insurance prices. Car insurance providers each have a type of driver they prefer to insure because their business is built to bear that specific kind of risk. Drivers who don’t fall into this category may end up paying more.

Although there are insurers specializing in young drivers or drivers considered “high risk”. To get cheap car insurance for young drivers, try comparing car insurance quotes. You will immediately see the difference in price between the insurer and the insurer.

By Master James

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