Finding young driver car insurance rates that won’t make you faint can feel like a impossible task. With little or no prior driving experience, it’s difficult for insurance companies to effectively determine the risk of each young driver. So, all young driver car insurance rates get the same price challenges. However, there are some car insurance rate factors for young drivers that are based on elements other than driving experience. Many of these car insurance rate factors are based on things within your control.
Young Driver With Good Grades
If you’re a young driver and have let your grades slide you may want to consider putting in a little extra study time. Almost every insurance company offers significant car insurance discounts to young drivers with a ‘B’ average or better. When you’re looking at the price increase of a teen driver this discount alone can make a huge impact on your final premiums.
Young Driver Only Drives Short Distance Or Part Time
If a young driver drives more than 10 to 20 miles one way to work or school each day it can impact your car insurance rates. The shorter your distances obviously give you less opportunity to get into an accident. The insurance company rates will reflect this situation.
Also, if you have two cars but three drivers, listing your teenage driver as a part-time driver on your policy will lower his or her rates. Since he/she is not regularly driving the car you won’t have to pay for full-time driver auto insurance rates.
Is Your Young Driver Employed?
Some insurance companies consider young drivers with longer employment history to be more responsible. If your student driver also has a job, this could help you. It may seem silly to think this way since your young driver will be driving more often but the insurance companies are looking at responsibility of the driver in this situation, like good grades.
How Many Vehicles In Your Household?
Each insurance company is different in how they require you to designate driving status on your policy. However, as I mentioned above, if you have three drivers and only two vehicles you may be able to list him or her as a part-time driver on your young driver car insurance policy, reducing the rate. You can also talk with your agent about what car your teenage driver would be less expensive for him/her to drive as a primary vehicle. Often, older cars are less expensive to insure.
Find An Old Car For Your Teen Driver
First, an older car may not be as safe as a newer car. If safety of your young driver is a concern, and it should be, buy the safest car you can find and ignore your car insurance rates. That’s what we do in our house.
However, in most states coverage to damage of YOUR vehicle is not required coverage. If you can find a car or truck for your young driver that you don’t have to finance then you won’t have to carry comprehensive or collision coverage. Eliminating this coverage can sometimes cut your young driver insurance rate in half.
Your Credit History And Your Insurance Rates
It’s even more important these days to maintain good credit. More insurance companies are using credit as a premium rating factor each day. Their experience has shown poor credit to lead to higher claims. It’s not fair, it may not be true with you, but they’ve been able to demonstrate it to help give people with better credit lower premiums.
Unfortunately, insurance companies don’t divulge how credit effects your young driver insurance rates. There’s no special “good credit discount” that ever shows up on your policy. And, each company treats credit differently for your car insurance rates.
How To Compare Young Driver Insurance Rates Fast?
With young driver car insurance, it’s important to compare quotes from many companies. We recommend at least five to make sure you get a good sample.
It can take a lot of time to compare young driver auto insurance quotes if you want to call around or go to various websites and fill out forms. Or, if you want to save the hassle, fill out this easy form here with all your driver information and let them get you auto insurance quotes from up to 5 local insurance agents that want to fight for your business. It’s the easiest and fastest way to compare young driver insurance rates.
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