How to Get Cheap Auto Insurance for Young Drivers

Students, teenagers, and first-time drivers typically pay a premium price for auto insurance because car insurance companies put these drivers under the “high risk” category. Shopping around for the best price usually isn’t enough to get the lowest rates. Young, inexperienced drivers need to prove that they are responsible and won’t be prone to serious accidents and injuries when they’re on the road. While it may take some time to negotiate the best rates with the car insurance provider, it is possible for young drivers to reduce their insurance premiums.

Here are some tips for getting cheap auto insurance for young drivers.

Choose the Right Car

Economy cars and even newer cars are deemed “safer” in the eyes of the insurance company than luxury cars and flashy sports cars. If the student is in the market for a car, do some research to find out what average insurance rates are for that particular make and model. You’ll be surprised how much this amount varies by car manufacturer. A younger driver insuring a Honda Civic will be paying much less than one insuring a BMW Z3. (See also: Drive the Old Car or Buy a New Car?)

Share the Report Card

Some insurance companies extend a “good student” discount to high school and even college students. These drivers need to provide a copy of their report card and make sure the insurance company stays updated on their latest GPA. Above-average and honors students can get some of the best rates available, because the insurance company feels that these drivers are being responsible with their academic life and therefore may be more responsible on the road as well. A “good student” usually needs to maintain at least a B average to qualify for this discount.

Buy Only Necessary Coverage

As long as the student isn’t driving a brand new car, a financed vehicle, or a car purchased with a loan, they don’t have to get comprehensive and collision insurance coverage. Find out what the basic state insurance coverage requirements are and choose a plan that meets the student’s basic needs. For example, electing for only liability insurance when the student only uses the car to drive to and from school may be a wise financial decision.

Inform the Insurance Carrier About All Safety Features

If the car has advanced locking systems, anti-theft devices, or aftermarket safety features that make the vehicle less likely to be stolen or vandalized, make sure the insurance company knows about them. Most insurance providers do offer a safety discount because they feel that the car will be less likely to be broken into or stolen — which, in turn, means a lower likelihood of a claim.

Take a Driver Safety Course

Driver safety courses, or remedial courses, are often court-ordered when a driver is close to losing his or her license or has several traffic tickets. Younger drivers who are trying to build up a good driving history can also take these courses. Just make sure the insurance company has a copy of the certificate or a signed letter stating the driver has successfully completed the course. Plus, training programs improve a driver’s skills overall, so parents can have more confidence that their teens or college students are safer on the road.

Ask About Family Discounts

If the teenager or even college student is still living with his or her parents, you may be able to get their insurance through a family policy. Most insurance companies offer family packages that insure multiple drivers under a single policy. The younger driver’s rate may end up being much lower through this type of insurance plan.

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Guest's picture

I'm not a big fan of doing this, but if you REALLY want to get cheap insurance for your young driver, equip him/her with only liability insurance. Usually, that is the only type of insurance that is required by law. By skimping out on the other coverage, you will save on your overall premium. Sure, it's a bigger risk, but you will definitely save money if there is no accident.