If you are a parent of a 16-year-old, you are probably cringing because you know that once your child gets behind the wheel of the car, insurance rates are going to skyrocket. While some policies are higher, the truth is that if you look for the most affordable car insurance for young drivers, you will discover that many insurers actually offer discounts for a variety of things. Of course, you want to make sure your son or daughter has the appropriate amount of coverage, just in case.
The key in finding the most affordable car insurance for young drivers is to start with the better known companies, asking what type of young driver discounts they offer. If you have insurance for your car or home, then the best place to start would be with your insurer. The reason is that the more policies you have with an insurance company, the lower the rates. Therefore, adding a policy for your child with the company where you already to business should be the first place to look.
Of course, along with your insurance company, you could also request quotes from any number of local companies. In addition to this, another great place to find the most affordable car insurance for young drivers is online. Since online insurance is a highly competitive business, these companies are often eager to provide rates that beat another company. In fact, you might have a few quotes from other companies and then when you look for the most affordable car insurance for young drivers online, tell them what the other companies quoted to see if they would beat the premium.
As mentioned, no matter the company, one of the best ways of finding the most affordable car insurance for young drivers is by choosing the one that will provide discounts. The following are just a few of the discounts that are commonly offered, allowing you to save money while not sacrificing on protection for your child.
• Grades – If your child maintains a certain GPA, insurance companies provide a “good grade discount.” Most companies require the student driver to have a B average but this can vary so whenever you talk to different insurance companies, find out the criteria for this discount.
• Driving Class – Another common discount is for the student who completed a full driving class in school. Today, many high schools now offer this type of education and while not mandatory for your son or daughter to get a license and drive, this class does two things. First, it teaches your child to be a more cautious driver and second, it secures a discount on insurance.
• Parent’s Policy – Another of the most affordable car insurance for young drivers would be for you to keep your son or daughter on your policy. Most insurance companies allow a child to remain on a parent’s policy until around age 25 and when compared to the child having his or her own policy, staying under your coverage would be far more affordable.
• Good Driving – Even if your child were not offered a discount right away, if he or she maintains a good driving record, which means no accidents or tickets, the insurance company would gladly lower the premium. After all, insurers want to reward good behavior and what better way than saving money.
• Car Type – Finally, before you start looking for the most affordable car insurance for young drivers, make sure your child has a vehicle that would warrant a low premium. Cars with large engines, which are considered “performance cars”, are far more expensive, as are sports cars. However, some cars that you might think of as standard are listed under the “sports” category so find out the types of cars that would keep the premium low.