Cheaper Auto Insurance for Young Adults

July 14, 2017 · Posted in General Articles on Car Insurance 

If you are searching for cheap car insurance for young drivers, you’re quite simply not going to find it because it doesn’t exist. No matter what, from the start, premiums for a teenager will be in the $1,000-$2,000 range. Because teenagers are more likely to die from a car accident than from anything else, insurers give them high premiums to make up for this high risk. Although auto insurance for teenagers is expensive, you have many ways to make it more affordable.

The most oft mentioned way to save money on car insurance for young drivers is by making sure that the parent writes them down under their policy. The auto insurance cost will be lower because the teenager is affiliated with someone that has prior history in terms of finances, driving history, and credit score.

Increasing your deductible is recommended if you want to save on auto insurance in general. However, because rates for teenage drivers can be really expensive, increasing the deductible can really ease the pain. The deductible is the amount of money that is paid out of pocket before the insurance company comes in and pays the rest. When increasing your deductible, the key is to make sure that you are not exposing yourself too much.

young adults may qualify for a discount if they take some sort of driver safety course.

If you happen to have multiple cars on a policy, you have to make sure that the young driver is assigned to the most inexpensive car (just make sure that they drive it). Some insurers make it a practice of assigning teenagers to the most expensive cars. If the teenager can’t be reassigned it is highly recommended that insurers be switched.

Make sure not to report any minor bumps and bruises to the car insurance company. If you go to a junkyard you’ll likely find a cheap auto part for you to use.

The more inexpensive the auto, the better for the wallet. Many parents get safe and expensive cars for their kids. However, it’s not like you can’t have a car that is both cheap and safe.

The young driver can get a good student discount, which can save around 10% on the premium. All that the teenager needs as around a B average.

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