Finding Affordable Car Insurance for Young Adults
Finding affordable car insurance for young adults can be tough. New drivers, particularly teens, are considered high-risk drivers by insurance companies. The less driving experience someone has the more likely he or she is to make a driving mistake, or so the insurance companies believe. This means they protect their own interests by charging higher premiums for new, young drivers. Even if a young adult is never involved in an accident, his or her car insurance rates will be higher than an adult driver with the same driving record.
Just because your son or daughter is inexperienced does not mean he or she should not be allowed to drive because of the expense of insurance. However, if money is tight, you might need to search a bit to find affordable car insurance for young adults. There are ways to find inexpensive auto insurance that still provides sufficient coverage. Sometimes even the best drivers are involved in car crashes and the odds are increased when a driver is new. An inexperienced driver might not cause an accident, but the lack of experience could make it difficult to avoid an accident a more experienced driver might be able to avoid. You need to be sure your son or daughter has enough coverage during the early years of driving. Luckily, there are a few factors that offers savings on car insurance for young adults.
Good Student Discounts
Many insurance companies offer discounts for good grades. When a young adult proves he or she is responsible through school grades, insurance companies assume that level of responsibility carries into his or her driving. If your child manages to earn high grades in school, usually A’s and B’s, he or she might be eligible for a discount on vehicle insurance.
Chances are your teenager will not be the only person in your home who needs vehicle insurance. When you add your child to your insurance policy it reduces the premium. Many insurance companies offer generous discounts when more than one person is covered by the policy, so this is a great way to reduce the rate your child pays. The downside is if your child is involved in a collision, it will affect the rate for the entire family. Parents should use their judgment to determine whether the discount is worth the risk of adding an inexperienced driver to a family policy.
Keep a Clean Record
Over time, car insurance premiums decrease if there are no incidents. Encourage your child to be responsible when driving and avoid risky situations. It might take a year or two of diligent driving, but you will eventually see a reduction in rates. Some insurance companies build good driver discounts into all policies, while others offer discounts to young drivers who prove they are low-risk over time. If you need assistance finding affordable car insurance for young adults, use our free easy search tool to find a policy that is right for your teen.