Everyone worries about having enough money for their child’s education but they tend to forget about another huge expense, young drivers’ car insurance. If you have a baby girl, you can wait a little to start your fund, but if your baby’s a boy, start saving money for that first policy the minute you get home from the hospital.
Okay, that was a bit of exaggeration there, young drivers car insurance may not be quite that bad, of course if your son or daughter has just become a teen driver you may think differently!
Insurance Is Simply Higher for Young Drivers
There are reasons why young drivers pay more. Their experience is often times limited, which studies have shown lead to more accidents and there is virtually no driving history for the insurance company to look at so you have the unknown to factor in as well.
Many parents feel that the insurance company’s exorbient prices are worth it, especially if they have ridden in the car with their teenage driver. Of course, this is where many parents would be wrong. In fact, if you shop around online and get several different quotes you may find you can get cheap young drivers car insurance.
Your teenage driver will need to be on the family insurance policy, so you will have to get quotes for everyone on the same policy. Some people try singling the young driver out and getting separate insurance, however your family insurance company will still raise your rates for having a teen driver in the household.
Most sites offer multiple quotes and you might find that in addition to saving money on the insurance for your young driver, you dramatically reduce the cost of insuring your other vehicles.
See if you can find discounts for your new driver. Often companies offer discounts for good students, additional savings if your child took a driver’s education course and multiple car discounts. You may also have a discount if you carry other types of insurance with the company, such as life or health insurance.
Due to the high cost of young driver’s car insurance, you might think about reducing your insurance coverage. If the car has, a current loan this probably will not be an option, as most loans require full coverage. You do not even want to consider going with your states minimum liability coverage, in most areas it will barely cover the cost of an ER visit, and will not touch an extended hospital stay.
The best way to keep your insurance rates lower when you have a young driver, besides comparing rates is to put specific rules in place for your child’s protection. For their first year of driving, don’t allow your child to become the crowd’s Taxi Cab. A vehicle filled with talking, rambunctious teenagers detracts from the driver’s focus on the road. Minimize the potential danger by limiting the taxi service they perform. Get your son or daughter a hand’s free headset for their cell phone. Set curfews for your child, when they drive. Late night drives mean sleepy drivers and an accident waiting to occur.
Insurance can be expensive but you can save yourself from bankruptcy by comparing rates. You will be thankful you took the extra time.
A cheap car insurance rate is easy to obtain. Shop around and look for young car insurance at Cheap-Motor-Car-Insurance.com
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