Cheap Car Insurance for Young Drivers
Finding the cheapest auto insurance for young drivers
For parents, insuring young drivers can make monthly auto insurance premiums jump. We ran the numbers, and adding a teen driver to a policy can make the premium increase 111 percent. When a parent buys their teen a driver a car AND add them to a policy, premiums can increase 156 percent.
For young drivers who make their own car insurance payments, they know just how expensive it is to be an inexperienced driver. Wouldn’t it be great if someone made cheap car insurance for young drivers? Compare.com has tips for bringing down the cost of auto insurance while maintaining the coverage limits young drivers need.
Young drivers need cheap car insurance
We understand why it costs so much to insure young drivers. The odds of a young driver being involved in an incident that requires the car insurance company to pay out are higher than they would be with older, more mature drivers. The problem is that for young drivers who are insuring themselves, it’s a hard cost to bear. Most young drivers work part time at jobs that pay either minimum wage or close to it, which means much, if not all, of their earnings are going to expenses such as insurance payments and gas. For these drivers, cheap car insurance is critical to their financial well-being.
Parents need a break
As the economy recovers, there aren’t many parents out their eager to take on the high cost of their young driver’s car insurance payments. Those parents that do pay their child’s insurance premium often feel the strain, especially if they have more than one young driver on their auto insurance policy at a time. For them, cheap car insurance for young drivers would save them a lot of worry as well as money. So it’s surprising that so many parents simply add their young driver to their existing car insurance policy without doing anything to lower the cost.
How do I get cheap car insurance for young drivers?
There are several steps you can take to get cheap car insurance for young drivers. The first thing you can do is qualify for as many discounts as possible. From Good Student discounts to Safe Driver discounts, there are a lot of available discounts to young drivers and you can save a good deal of money through these alone. But what do you do when basic car insurance discounts aren’t enough?
Try Driver Safety Courses
There are a wide range of driver safety courses available to young drivers. Completion of these courses can reduce car insurance costs and turn expensive car insurance into cheap car insurance. Many states even require that your insurance provider give you a discount for taking the course. Discounts range from five percent to 20 percent. Learn more about driver safety courses and auto insurance savings.
Look for Discounts
Did you know that discounts exist for college drivers who go away to school? Or that simply updating the mileage you drive could cut your rates? Oh, and don’t forget about discounts for good grades too! They all add up so look for as many as you can possibly qualify for. Not sure where to start? We recommend speaking with your current insurance agent. Tell them you need to lower your rates and then ask if they provide any discounts for which you might qualify as a student or a parent of a student.
Drive a less exciting car
It’s hard to be a young driver. You want to drive a nice car. You want everyone to see how cool you are and driving a grocery-getter hatchback or your mom’s four door family car won’t give you any cool points. However, driving a less exciting car can significantly reduce how much you pay in car insurance premiums. So maybe settle for the four-door, four-cylinder car instead of the V8 coupe with the sunroof and use that money you saved for something else… like a road trip to the beach.
Compare auto insurance prices
One way you can find cheap car insurance for young drivers is to compare car insurance prices. Auto insurance providers each have a type of driver they prefer to insure because their business is built to support their specific kinds of risk. Drivers who don’t fall into that category end up paying more. To get cheap car insurance for young drivers, try comparing car insurance quotes from multiple insurance companies. You’ll see right away the difference in pricing from insurer to insurer. The car insurance companies with lower prices are better suited to handle the risk you pose as a young driver.
Buying auto insurance can be a confusing and disoriented process. We want to make sure that our users can make informed choices about their car insurance, selecting from as many options as possible. Read our Auto Insurance Buying Guide to educate yourself before you start a quote.