Having a driver’s license and being able to drive is one of the pillars of becoming an adult. When you get your license, people realize you are growing up and they start to respect you more. When your teen gets their driver’s license, your insurance premium costs add up quickly. Because of this, it’s important to think think ahead when it comes time to securing insurance for your young driver.
Young Drivers Are More Dangerous
Young drivers are the most inexperienced drivers on the road. Not only are you going to find younger drivers to be more distracted on the road, but insurance rates will differ even further between male and female young drivers.
Experience Takes Time
The only foolproof way to combat high upfront premium rates for young drivers is to wait to become a full-time driver. By all means, allow your student driver to get their license, but don’t add them to the policy as a full time driver. Don’t buy them a car and be sure to keep one less car on the policy in general than there are drivers.
It also helps to work with your young driver well after they’ve received their license. Continue to expose them to less than ideal driving conditions, such as inclement weather, heavy traffic, nighttime driving, highway driving and anything else that poses a bit more focus and caution.
It may not be a popular decision right off of the bat, but when you compare the costs of driving full-time to part-time, driving part-time is cheaper. People who are always checking in with the major insurance resources such as CoverHound know student auto insurance is competitive, you just need to look in the right places. This is all in addition to the fact that your student will be building up time behind the wheel, so that when they do go out on their own, they’ll be safe and ready.
Work with Your Insurance Carrier
Even though not all insurance carriers will have a plan or a program in place for young drivers, some are actually more than willing to work with you. They understand that young drivers might not be driving all of the time, and that’s exactly the reason they can offer certain sorts of discounts. Whether it’s the popular good grades discount, or you’re able to find a carrier with a lay-up credit program that only charges a small percentage of the initial premium, there’s a lot that can be saved just by asking a few questions. Discounts for students are everywhere, so why not in the insurance realm?
It’s also important to make sure your insurance carrier understands your specific situation, and that you’re leaving no stone unturned that could save you money off a premium. But you also need to remember that the whole point of insurance is being sure you are completely covered. Having a student driver behind the wheel may make you reevaluate your overall coverage.
Whatever methods you choose to go with, all you need to remember is that at the end of the day, you can take advantage of comparison insurance sites to get the best coverage for the most competitive price possible. Even though rates are higher for student drivers, it doesn’t mean you need to simply take the first quote you get, nor does it mean your teen will need to take out a loan just to drive a car.