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”.
Car Insurance For Young Drivers In Utah
Reader’s Question:
My daughter just got her driving license and I am planning to buy her a car soon. Is car insurance for young drivers relatively expensive than that of an adult because I want her to have insurance coverage also.
Lisa
Salt Lake City, UT
Safety is the number one priority we want for our teens especially when it comes to driving. Young drivers aren’t experienced and when it comes to driving, they are not good at avoiding road risk or drivers who drive recklessly.
In reality, young drivers don’t have a driving history to prove that they are responsible drivers. With that said, car insurance for young drivers tends to go high because of the majority of their peers are liable for greater claims compared to a matured driver. The rate of car insurance for young drivers can sometimes triple compared to an experienced driver, but you can start lessening its cost by doing these simple tips.
1. Prove to your insurance company that you are a responsible driver by earning good grades. Car insurance for young drivers can greatly reduce if they can maintain a good grade.
2. Get your teen a sedan for starters. Don’t’ buy them a fast or high powered cars, it will only result in high insurance cost.
3. Install safety features in your car. You can get discounts if you can prove to your car insurance company that your vehicle is safe to drive, thus reducing the chance of an insurance claim.
4. It is proved by insurers that young drivers who enrolled for a defensive driving course are less likely to get into road accident and they are giving discounts because of this.
How Much Will Teen Auto Insurance Cost To Add To My Policy?
Reader’s Question:
Can you give me a range on how much will my car insurance go if I add a new teenager driver?
Rachel
Good Question Rachel.
Adding a teen driver on the policy will definitely cost you more since they have a high rates of accidents since they are newly licensed compared to experiences drivers who is more prone to avoid accidents than cause it.
It will actually depends on what your insurance rates already if you want to know the cost of adding a teenager on your policy. Other factor that may also affect your ate is the geographical location. For instance, it will cost you more on your premiums if you live in the congested area that your teen is more likely to get involved in an accident than in a rural area.
If a teenager has taken a formal driving lessons or a driver’s education, he may be able to get discount, If you also have a teen that maintains a higher GPA, this may cut the cost for auto insurance.
Generally, adding a teenager may cost $1200 up to $2500 a year. a minor may expect to pay 2.5 times the base rate of their insurance. Depending on the state where you reside, studies show that if you add a teenager on your insurance policy, your rates may go up 50-200%.
You may speak with your insurance agent about what your new premiums would be if you add a teenager in your policy. You may shop around to check which insurance company can give you a lower rate if you add a teenager.
Goodluck!
MariCAR
Loading ...