Whether you’re buying your first car for yourself or looking to add your children to an insurance plan, there’s no doubt that young drivers can mean big bucks when it comes to car insurance.
Luckily, there are options available that can mean cheap insurance for young drivers.
At Affordable Insurance, we can help you find solutions to many of your insurance issues, including helping alleviate your budget when it comes to adding a young driver to your plan. Luckily, there are many things you can do to help out your insurance situation.
Read on to find out some tips on how to get cheap insurance for young drivers.
1. Pick the Right Car
Just like in regular insurance scenarios, the type of car that your young driver will be driving can make a huge difference in insurance rates. In fact, buying a fast car for a young man or woman is a definite no if you’re looking into cheap insurance for young drivers, as many young men and women like to drive fast.
If you’re concerned with keeping your insurance rates to a minimum, there are lists of the cheapest cars to insure. When trying to insure a teenage driver, make sure that safety features are at a premium, and that the cars you pick are easy to drive and do not have the potential of driving at high speeds.
2. Avoid Car Modifications
Many young people love to personalize their belongings. From putting stickers on their laptops to making a custom case for their cell phones, no Gen Z teenager can avoid customization of their belongings. The same can be said for the modifications that are made to a young person’s car.
Unfortunately, these modifications will not only cost you money at the shop, they will also cost you money on your insurance. Cars that have added modifications can often increase insurance cost by hundreds of dollars, as the modifications can have impacts on the car’s safety features.
On top of that, modifications are a sign of racing, which is something insurance companies are very fearful of when it comes to insuring young people. If you are thinking of making modifications to your vehicle, make sure to understand what the added insurance costs are before changing anything.
3. Consider a Blackbox in the Car
As you may have noticed already, car insurance companies have a tendency of making assumptions about young drivers which are the reason behind the increased insurance rates.
Installing a black box in young person’s car, though, can help combat these assumptions and lower insurance costs.
Many companies, from All State to Progressive, offer insurance options with black boxes, actually telematics devices, that record your driving habits. These black boxes will make note of whether the young driver is texting, driving aggressively, or being distracted.
A black box is a great potential money saving option if you are confident in the young driver’s ability and discipline. If you are afraid that this young driver may be careless, be sure to avoid this option, and it can end up biting you in the back.
4. Pay For the Entire Year Rather than By Month
While this strategy is best used for any type of insurance policy, it should not be forgotten for young drivers. Paying your entire insurance policy annually, rather than in monthly statements, can save you hundreds of dollars at the end of the year.
5. Increase Security on the Road
Car insurers’ main goals are to keep you safe on the road, and the understanding that a safer car means a cheaper insurance for young drivers is just one reason that this next tip is an essential one. When purchasing the car for your young driver, focus on adding as many safety features as possible.
In today’s day and age, there are many ways our cars are keeping us safe. From rearview cameras to lane-departure monitoring, there are many safety features that can be added on to your car in order to add a sense of calm. This sense of calm will also be felt by your insurance company.
On top of lowering your insurance rates, many of these safety features can save lives and contribute to general road safety. Though the cost may seem prohibitive up front, the amount that you will save on insurance, as well as the added stability, will make the features a worthwhile investment.
6. Add an Experienced Driver to the Policy
An easy way to save a good amount of money on insurance is to add a second, more experienced driver, to the young adult’s policy. This policy will indicate that while the young adult is the main driver, the experienced driver does drive the car from time to time.
When doing this, be sure to avoid fronting. If the experienced driver will never be driving that car, it is illegal to add them as a named driver.
7. Look for Hidden Discounts
Many insurance companies have convenient discounts put in place specifically for young drivers, even though they may not tell you about them. For example, almost every company has a discount for drivers that take a certified defensive driving course, which can save you from $25 to $75 every month.
Other companies, meanwhile, have policies such as reducing insurance costs for students with high GPAs, so long as they show their transcripts. On top of that, there are policies that will discount the price of insurance for college students.
Speaking of college students, one important discount to consider is the “Student Away” discount, which can reduce your insurance costs by 20% if the young adult is a student attending college 100 miles away while their car is home.
Are You Looking for Cheap Insurance for Young Drivers?
If you’re looking for an insurance policy for a young driver that is affordable and will not break the bank, you need to pick a car insurance company that has these potential money saving tactics.
If you need a car insurance company now, then look no further! Visit our website for a free quote on creating a new policy for your young driver.