Car insurance for young drivers is expensive; very expensive. Adding a teen driver to your policy will often double your rates. There are a few ways to keep your premiums low when it comes time to add your young driver to the policy. Here are a few tips:
Girl vs Boy – Insuring a girl will be cheaper, but not a lot cheaper. Statistically, boys are much more likely to be an accident, or get cited for speeding, so insurance companies will assign a young male driver a higher risk rating than a girl the same age.
Defensive Driving Course – One of the best ways to lower your premiums for young driver is sending them to a defensive driving course. These courses are inexpensive, and usually take only a day. Most allow you to take defensive driving courses online, which is an easy and convenient way to lower your premiums. Passing a defensive driving course can result in savings between 10-15% on your policy premiums.
Good Grades – The majority of insurance companies will offer a good student discount to young drivers. These programs usually require a B average or higher. You will have to provide copies of a report card, or a note from the principal. A good student discount will normally range between 10-20%.
Old Car – The older the car the better, when it comes to young drivers. Insurance companies will raise your rates if a teen driver is tooling around town in a brand new, luxury automobile. Using an old car for young drivers will result in savings. An older vehicle is cheaper to insure no matter who is driving it.
Keep a Clean Record – One of the biggest factors with young drivers is their driving record. If they keep their record clean, your rates will drop over time. On the other hand, if they are cited for speeding, or get in an accident, you can expect your premiums to skyrocket.