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How To Insure Young Drivers At The Lowest Possible Cost

Friday, August 20th, 2010

An auto insurance quote that includes a young driver can be significantly higher than a policy for an older driver. Insurance for young drivers will usually cost more because their lack of experience makes them a higher risk for filing a claim. There are strategies that can be used to pay the lowest possible premiums for a young driver.

Insurance statistics show that young drivers with good grades have fewer accidents. If the young driver is a student and gets good grades, then he or she can get a discount of up to 15 percent. Discounts usually apply to students with a GPA of at least 3.0. If the driver is continuously enrolled as a student, he or she may be able to earn these discounts up to age 25.

A young driver should drive carefully in order to avoid getting tickets or having an accident. His or her driving record should be as clean as possible. This is especially important for young male drivers because any incident will cause their rates to rise more than the same incident for a female driver. Statistics show that male drivers are more often involved in serious accidents. If a student takes a certified drivers education course or a defensive driving course, it could result in a discounted auto insurance quote.

Credit cards are readily available to college students, and it is important that they be used wisely and that payments are made on time. Any other loans or bills in their name should also be handled responsibly. If not, their credit score can be adversely affected and that can result in higher auto insurance rates.

If a student lives away from home while at school and doesn’t take a car with them, he or she will be driving less. Accordingly, the insurer may offer a lower auto insurance premium. If your student is not driving much, there is less of a chance that he or she will need to file a claim.

A student who belongs to a fraternity or sorority may be eligible for a reduction in his or her premiums. Memberships in other organizations such as an honor society can also result in a discount. Even joining MENSA qualifies for some insurers.

A younger driver can get a lower rate by choosing to drive an older car. Cars that are considered to be high powered or expensive to repair, or have expensive features, cost more to insure. Check with your agent to see which cars are rated lower.

A combination of these factors can result in paying much lower premiums. A young driver should be aware of all of the ways to influence his or her auto insurance rates.

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