Being a young driver brings with it an equal share of gains and challenges. To become fully independent, a young driver will go through the rigors of acquiring a driving license. Thereafter, they will have to pay car insurance premiums that don’t come cheap. It’s a little sad to note that the cost of young driver car insurance remains a little higher compared to the rate for drivers who fall into the 18-25 year old category.
Insurance companies regulate insurance premiums costs based on risk. Young drivers car insurance is often inflated above the usual level due to risks associated with young drivers. Generally, there are a number of factors that contribute towards pushing up this premium costs.
Elements That Can Push Up Car Insurance Costs for Young Drivers
Statistics done in most countries reveal that 1 in every 5 new drivers will experience a motoring related accident with 5-6 months of passing their driving tests. Same statistics also indicate that an eighteen year old driver is ten times more likely to involve themselves in an accident than a driver aged 30 and above.
Another unfortunate fact is that young male drivers’ insurance premiums tend to progressively become higher than for young female drivers. This is supported by statistical evidence claiming that males often spend more time driving and are more likely to indulge in driving related risks.
Other studies have revealed before that drivers aged between17-20 are 7 times more at risk than other drivers. This particular age becomes 17 times more likely to involve themselves in an accident between 2 am-5 am.
Other factors that push up the cost of car insurance premiums for young drivers include:
• Likelihood of the young drivers becoming over-confident
• Misguided feeling of invincibility amongst young people which often leads to unnecessary risk taking
• Lack of experience
• Lifestyle habits
On the bright side, still there are a number of things that young drivers can do to assist in bringing down the cost of insurance premiums.
Tips That Can Help to Lower the Cost of Car Insurance for Young Drivers
Keep a clean driving record
A single DUI infraction has the capacity to increase a young driver’s car insurance ten-fold. Worse, this may last not less than a year. Mostly it lasts up to 3 years. One will spend literally thousands of dollars in paying for such premiums. So as a young driver, make an effort to keep that driving record clean by observing all driving rules and generally doing what’s best to keep your record clean.
Maintain higher grades in school
There are insurance companies that will be willing to offer a discount if the driver is a college student with impressive grades. It’s believed that a steady and responsible student is more likely to be a responsible driver. When shopping car insurance quotes for young drivers, make an effort to ask about it.
Take an accredited driver safety training
Taking a local safety course can help a young driver to bring down the cost of car insurance. After passing the standard driving test, it’s always a good idea for the young driver to consider advanced driving tests. Such exams act as proof to the insurers that the young driver can be reliable and responsible. They will not be considered such a high risk and so the rate will be lowered.
Consider low performance cars
If a young driver doesn’t have a high performance car, then the cost of insurance premiums will certainly be down. Driving high performance cars attracts expensive insurance policies. You can save up to 50% on insurance premiums if you avoid expensive cars, SUVs and other also sports cars.
Stuff your car with safety features
Having safety features installed in your car can assist to bring down the insurance costs. Some of the things you might consider installing include:
• Central lock systems
• Side air bags
• Automatic seat belts
• Anti-lock brakes
• And many others.
Generally, there are plenty of good options when looking for affordable insurance premiums for young drivers. If you have been with your current insurance company for quite some time, and you share a great working relationship, talking to them about it can help you to get your teen or young adult an affordable insurance policy.
Once you take care of all the things we’ve looked at, you make yourself more informed and able to get cheaper young driver car insurance. Always request for quotes from different companies so as you can narrow down on the best.