Affordable Car Insurance for Teenagers

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Driving a car for the first time is an exciting event for teenagers, but one that can come with a hefty price tag. Car insurance premiums are up across the board, but this is particularly the case for young drivers. According to statistics compiled by the road safety charity Brake, one in five drivers is involved in a car crash during their first six months of driving. Although this includes beginning drivers of all ages, teenagers are more likely to be involved than older drivers. As a result, insurance companies tend to charge more for young drivers. The higher premium is meant to offset the increased chance of an accident claim. How can a young driver find an affordable policy yet still remain covered? There are a few ways to save money and stay on the road.

Drive a Safe Car

There are many different factors that insurance companies take into account when issuing a quote, not pertaining to age. One of these is the type of car being insured. For teenage drivers to offset their age, it’s a good idea to choose a car that’s easy to insure. Low-priced cars with high safety ratings tend to fare best, so you don’t need to spend a fortune. For example, new drivers can pick up a used Volkswagen Up for a reasonable price and because Volkswagens are known for their reliability you’re likely to spend a lot less money maintaining the vehicle, saving you even more.

Attend Additional Driving Courses

Another way to lower costs is to take advanced driving courses. It’s important to check with the insurance company first to see if this will lower your premiums, because not all will factor these into their quote. However, some insurers will lower your rates if you are able to pass an advanced course and become a more responsible driver. Taking additional driving courses can give young drivers valuable experience behind the wheel, lowering the risk of accidents.

Add a Secondary Driver to the Policy

It may be worth your while to add an older driver to your policy as a secondary named driver. This could bring the rates down. However, take care that you are still listed as the primary driver if you will be the one doing most of the driving. Falsely listing yourself as a secondary driver is illegal and could lead to a host of fees or other consequences.

Store your Car Safely

Cars that are higher in value also have a higher statistical chance of being stolen. If you’ve purchased something sporty like a Nissan GT-R or Subaru BRZ, you may need to secure it with alarms, cameras, or other security features. Insurance companies also prefer that the car is parked in a locked garage rather than on the street.

By taking the time to shop around for a car that’s viewed favourably by insurers, you can reduce your insurance rates no matter what your age or experience level might be. As drivers gain experience without any accidents, their rates will also naturally fall over time. It’s important to compare quotes and find the best fit for your driving needs.

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One Response to Affordable Car Insurance for Teenagers

  1. Pauline says:

    If you are added as a second driver I don’t think you can have a no claim history. Unless the premium is really high it may be worth to build up a history to lower premiums in the future?
    Pauline recently posted..Financial Independence Day! When is yours?My Profile

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