7 Great Tips for Making Car Insurance Affordable To Young Drivers

B6TJ67 Learner driver, puts l  plates on  red car. Image shot 2006. Exact date unknown.
05 Sep 2016

Car insurance provides financial protection from any physical or monetary damage that may come from an automobile accident or collision. Thus, it is an important tool for all drivers to have, because it can provide property, liability and medical coverage. Purchasing insurance is imperative for all drivers, especially young drivers, who are statistically more likely to get into an accident as compared to experienced drivers. Due to these high risk statistics, insurance packages for young drivers are very high, with average rates for male drivers (aged 17 to 22) being as high as $2,519. This makes it very difficult for young drivers to obtain car insurance policies. However, there are a few precautionary steps that can be taken by young drivers, in order to bring down insurance costs.

These steps are:

  1. Pick a Good Car

    Young drivers should use and drive a car which is sensible and has a good safety rating. The car should generally steer clear from a ‘racing boy’ image and instead portray the driver as level headed and rational. If you are planning to purchase a new car, think about purchasing one that looks good to insurance companies. For example, insurance companies understand what type of cars is more likely to have problems. They also know what types of cars get stolen more. Hence, look for a car that falls in the good list of insurers. Another option is to lease a car rather than buying a new one. However, it is wise to have a complete know how of car insurance for leased cars.

  2. Make the Car more Secure

    Adding a burglar alarm, tracking device etc, can help bring down the insurance bill. Some cars come equipped with a number of security features, while others can be customized to become more secure.

  3. Add a Second, Responsible Driver

    Adding a responsible, sensible appearing individual as an occasional car user can help bring down the premium. It also lowers the risk if the second driver is a family member and is middle aged i.e. appears to be level-headed and responsible.

  4. Pass an Additional Driving Qualification

    Passing extra driving courses such as the ‘Pass Plus Schemes’, can help bring down a young driver’s liability level and bring them a discount on their car insurance.

  5. Pay Yearly, not Monthly

    If you can afford you should try to pay the premium yearly in one go, rather than installments per month. Paying yearly is cheaper since you can avoid monthly interest charges.

  6. Add Less Driving Hours

    The amount of usage of your car in terms of how much you drive will also influence your insurance payment. The more you’re driving, the more you’re paying. Young drivers who cover long distances will pay more than motorists who live closer to their institute.

  7. Other Factors

    Other things that could influence your cost are the type of car you drive and the place where you would drive. This means that if you reside in an area where there are high chances of accidents or vandalism, eventually your insurance will cost more.

Following these relatively simple steps will help lower your car insurance costs by a substantial amount.

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Suhail

Suhail is a journalist who loves everything about technology driven cars. He keeps a keen eye on the latest developments in automotive industry and shares the news as it breaks.