For young drivers finding young drivers insurance is hard. For young drivers, finding cheap car insurance that doesn’t break the bank can be difficult. Insurance companies view young drivers as liabilities, as young drivers are statistically more likely to be involved in motor vehicle accidents and drive recklessly. Here are 4 facts about young drivers that help illustrate why young drivers face such high insurance premiums during their early years on the road:
- 20% of drivers will crash during their 1st year on the road
- Males under 21 are 10 times more likely to be involved in a motor vehicle accident when compared to male drivers over 35.
- 1 in 8 drivers are under the age of 25, however 1 in 4 drivers killed in motor vehicle accidents are from this age group
- 40% of passengers killed or catastrophically injured are in cars driven by young drivers
Unfortunately for the vast majority of young drivers who drive responsibly, this means sky high young drivers insurance quotes for young drivers at a time when they can least afford it.
Finding Cheap Young Drivers Insurance
What is the cheapest car insurance for young drivers? This will of course depend a great deal on the jurisdiction you’re in. However, whatever jurisdiction you’re in and no matter which insurance company you choose, there are steps a young driver can take in order to receive the lowest possible young drivers insurance.
1. Be A Secondary Driver On Your Parents Car Insurance Plan
This applies primarily to teenagers still living under their parents’ roof. While car insurance is still plenty expensive for young drivers in the 20-25 age group, drivers between the ages of 16-19 are often faced with especially high premiums when they seek their own insurance policies. By obtaining coverage under their parents’ insurance plan as secondary drivers, they can greatly reduce the cost of their young drivers insurance coverage.
2. Complete An Approved Driving Course
In some jurisdictions, young drivers can complete special driving courses – either in the classroom or on the road – that will enable the driver to obtain a discount on their young drivers insurance premium. These programs vary from jurisdiction to jurisdiction, thus the best way to see if your local municipality or state has an approved driving safety course that can lower young drivers insurance rates is to call your local department of motor vehicles.
3. Select A Vehicle In A Cheap Insurance Category
As unfair as it may be, insurance companies utilize statistics to determine their premiums. If you’re under the age of 25 – particularly if you’re male – you fall into a category that is at high risk for motor vehicle collisions, making young driver car insurance particularly expensive. If you choose to purchase a powerful sports sedan or a 2 seater sports car, you’re putting yourself into another high-risk category which will put your already high young drivers’ insurance through the roof. To lower the cost of your young drivers insurance, choose a safe, low-profile car that is generally driven by those outside your age group.
4. Avoid The Temptation Of Car Modifications
Many young drivers like to personalize their car with custom modifications. If you’re serious about obtaining the cheapest car insurance for young drivers possible, then it’s important to not only choose a safe, reliable vehicle, but to avoid adding spoilers, body kits, aftermarket exhaust, or other customizations that may cause your young drivers insurance provider to raise your car insurance premiums.
5. Drive Carefully & Obey Traffic Laws – Work To Earn A No-Claims Discount
The statistics that hurt young drivers can also work for them. Drivers with historically clean driving records are statistically more likely to have clean driving records in the future, meaning less cost to the insurance company and lower premiums for the young driver. Many young drivers insurance providers will offer no-claims discounts to drivers who can avoid accidents.
On the other hand, drivers of all ages with speeding convictions and previous collisions are more likely to cost the insurance company money down the line. While young drivers are often tempted to speed and push the limits of traffic laws – for those looking for cheap young driver insurance – the need for speed will have to be sacrificed in exchange for a spotless driving record. More importantly, obeying traffic laws helps reduce the already high chance of collision young drivers face.
6. Increase your Insurance Deductible/Excess
One way to decrease the cost of young drivers insurance premiums is to increase the amount of your insurance deductible – also known as an “excess” in the UK. The deductible is an amount the owner of an insurance policy agrees to pay out of pocket, regardless of the type or size of the claim. While this may result in higher costs to the driver in the case of a crash, in the longer term it may save the driver money, provided they can avoid involvement in motor vehicle accidents.
7. Limit Your Driving Hours
While this option may not be available with all insurance companies, some insurance companies offer young drivers insurance policies that lower premiums for young drivers who agree to limit the times of the day in which they use the car. For example, the young driver may agree that they won’t drive the car at night from 12am-6am. Once again, statistics can come into play to both hurt or aid the young driver looking to reduce their young drivers insurance premiums, as nearly 50% of motor vehicle accidents caused by young drivers occur at night.
8. Improve The Security Of Your Vehicle
Many insurance companies offer reductions on premiums for carrying approved security devices. An example of security features that may result in lower premiums (though this will depend on your auto insurance provider) include:
- Alarm & immobilizer systems
- Ignition locks
- Glass etching of the vehicle’s registration number
- A VIN visible through the windshield
Shopping Around For The Best Young Drivers Insurance
Lastly, the most important way to reduce your young drivers insurance premiums is to shop and compare young driver car insurance plans. There can be a huge disparity in car insurance premiums from provider to provider. With the advent of the internet and popularity of online young drivers insurance comparison websites, there is no excuse for not shopping around. By shopping around for the cheapest car insurance for young drivers and following the tips provided above, young drivers can ensure that they are obtaining the lowest insurance rates possible. Getting young drivers insurance can be hard but with these tips we hope it makes your search a little easier.