June 1, 2011

Keeping Cheap Auto Insurance Rates When Adding A Younger Driver

Every driver wants a cheap auto insurance policy, but this can be difficult when buying a policy for multiple drivers. Many families get especially worried about the effect of adding a younger driver to a car insurance policy, because car insurance companies typically see younger drivers as high risk. They're less experienced and stand a higher chance of being involved in an accident, and of course, this means higher rates. However, there are a number of ways to keep a car insurance policy's premiums low, even when adding a younger driver, and smart policyholders can take advantage of car insurance policies to avoid a huge rate hike.

First of all, an insurance provider will only offer a cheap auto insurance policy to a relatively safe driver. In order to keep a policy's overall costs down, it pays to take a few steps to make every driver on the policy safer. One way to do this is to take driving courses. A younger driver will probably not want to take extra driver safety courses, but statistics show that safety classes work. They can significantly lower the chances of an accident, and as a result, most car insurance companies offer special discounts to customers who take them. Every driver on a policy should look into these types of classes in order to get a discount, but it's especially important that younger drivers take them.

Most car insurance companies will also offer additional discounts to drivers who install car alarms and own homes, so it's always a good idea to ask about discounts. Younger drivers should also drive statistically safer vehicles, preferably cheaper vehicles with good safety ratings. Once every possible step has been taken to decrease both drivers' risks, it's a good idea to look online for car insurance rates from a few different major providers. This is an essential step, as it allows drivers to minimize their insurance premiums by using the competition of the car insurance market as an advantage.

Some drivers try to lower their car insurance rates by lowering the amount of coverage that they buy after a new driver is added to a policy. While this can be effective, it's not the best idea. Young drivers need car insurance coverage because there's a very high chance that they'll be involved in an accident, so comprehensive coverage, PIP and other elective coverages should be kept high. By getting discounts and comparing rates, it should be possible to keep car insurance premiums low without paying for less coverage or higher deductibles.