If you’re a young driver, you’re probably thrilled with the freedom you now have when you get behind the wheel. You can go anywhere on your own now. Who needs a parent or guardian to drive you to soccer practice or to the movies on a Friday night out with friends? You’re independent and free. However, the exciting privilege of driving also comes with costs. Beyond the price of the car, you’ll also have to stay on top of your car insurance premiums.
Car insurance is a requirement for all car owners. And once teenage drivers are added on to their parent’s plan, costs can almost double. Any young driver, whether you’re a teenager or in your early twenties, will see higher rates simply because you’ve been on the road for a shorter period of time. But this doesn’t mean you don’t have options. With so many companies out there, you can search for discounts and compare prices to guarantee the lowest car insurance quote for you. There are ways to reduce your car insurance coverage, you just have to be smart, and savvy enough to look for them.
Shop around and compare prices.
There are dozens of car insurance companies that will offer you an insurance policy. It is up to you to find the most affordable option of insurance company. Know and understand what you need out of your auto insurance policy for when it comes to comprehensive coverage, including health coverage for potential bodily injury, collision coverage, and policies for potential property damage. From there, research different car insurance quotes to find a good deal. All the different companies are fighting for your business, so chances are they will be willing to provide discounts and options for you as a young driver, in order for you to have peace of mind behind the wheel without breaking the bank.
Stay on your parent’s plan.
As a teenager, you were probably added on to your parent’s insurance policy. Once you bridge over into being a young adult, you may wonder how much longer that can last. Unlike with healthcare, the length children can stay on parents insurance for your auto policy doesn’t have a limit. So you don’t have to leave on your 26th birthday if you didn’t want to. If you’re still living at home as a dependent child or an adult, you can remain on your parent’s plan to save money on your insurance.
Commit to your schoolwork.
While your driving record reveals a lot about how safe you are on the road, your academic record can also be a good indication. It is true that young people with a good record at school can often get discounts on their auto insurance. So remember as you go through high school and college that your good grades can actually save you money in the long run. Even as a college graduate, you may still be able to submit your transcripts to earn a discount.
Purchase an older vehicle.
Insurance is all about covering your vehicle in case of a fault accident or emergency. So logically, the more expensive and fancy your car is, the more pricey your insurance will be. If you’re looking to lower your rates as a young driver, consider investing in an older car. After all, the fancy sports car phase is much more “mid-life crisis” than “just got my license.” It’s okay to be in an older car that will cost less to insure.
Take a safety course.
Everyone has to take driver’s education to get your license, but that doesn’t mean you have to stop there. Agreeing to take a safety course or extra defensive driver’s education can be a good idea and help lower your car insurance costs. Just be sure to check in with your insurance provider before signing up, to guarantee that they’ll accept the additional discount. You’d hate to take extra steps that don’t end up saving you any money, so check in on your eligibility.