Car Insurance For Young Drivers
Reader’s Question:
Why is the insurance cost for young drivers so high? Is there something we can do about it?
Lewis
Denver, CO
There are many reasons why car insurance for young drivers is expensive. Study shows that the chance of a young driver getting killed in a crash is three times than a driver who is 25 to 60 years old. Not only that, the leading cause of children dying of ages 15 to 20 was and still car accidents. With that said, you can’t blame car insurance company from raising the insurance cost of young drivers.
Still, getting those expensive car insurance for young drivers to drop is still possible. Try to compare if which one will be cheaper, adding your teen on your policy or is it cheaper to buy a 2nd vehicle and insuring it under your teens name. You know why? Because in most cases, adding a teen in their parents insurance policy will jack up the insurance cost up to 95% that’s why I want you to try the two approach.
Inexpensive car insurance for young drivers can also be acquired if you’re a good student. But this doesn’t mean that the “A” student is much safer than those students who are getting “C” grades. Still, having a good grade can acquire you 10 to 25 percent discount because they think of them as more responsible and can also be seen as “future risk”.
Good Student Discount Car Insurance
Reader’s Question:
Why are some insurance companies offer good student discounts on car insurance?
Michelle
Denver, CO
Good student discounts are offered by insurance companies as a way to help alleviate the high cost of car insurance for more responsible teens or young drivers by allowing this type of reduction in their car insurance rates.
According to statistics, students with higher grade point averages (GPA) tend to be more responsible when driving a motor vehicle. A discount is therefore offered to encourage responsibility in those teens or young drivers under the age of 25 who may be eligible.
To get more information if you would be eligible for a good student discount, you may contact your insurance broker and find out if they offer this discount and if so what their requirements are to acquire.
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